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Economics *FEES PAYABLE* at Clifton College

Course description

We often hear it said that there is “no such thing as a free lunch”, but do we really know why? Economics is the study of how we allocate scarce resources between all the competing wants of consumers in the world. We look at the role that firms, individuals and governments play in this process. We consider how prices and markets are used as the main method of resource allocation, but also where the market fails to deliver. We aim to discover the costs and benefits of different policies aimed at dealing with these problems. The sorts of questions we may be studying in Economics include:

  • Should the level of taxation be increased or reduced?
  • Why is there still unemployment even when the economy is booming?
  • Why do we get grain mountains, wine lakes and other surpluses?
  • Who should provide health care: the public or private sector?

Economics is available at both AS and A level. Though Economics at AS and A level does not involve use of advanced mathematical techniques, it is helpful for pupils to be at ease with numerical data and concepts. Interpretation and analysis of economic variables are vital to the course, so we expect that pupils have at least a B grade in Maths GCSE and strong spoken and written and English.

Course content

The AS course and first year of A level are taught as one course in the Lower 6th year with the two AS exams taken in May/June. Pupils may then continue in the Upper 6th for the remainder of the A level course to take the three A level exams incorporating both years’ knowledge the next summer.

The course in Economics is designed to allow students to learn about microeconomics and macroeconomics in relation to the performance of the UK economy and other real world contexts. Students will study issues in a global context, such as looking at the impact of China’s recent industrial development on the UK economy, or the implications for the UK economy of EU enlargement.

An interest in and awareness of current affairs is important when studying Economics. The subject is about the application of theories to topical issues and problems and so an awareness of contemporary issues is vital. A considerable emphasis during the course is put on discussion of topical issues and we encourage pupils to read newspapers and journals to help them fit the subject into its real-world context. The course lends itself to discussion and debate as there is rarely any degree of certainty in Economics. It is said that if you get two Economists together, you will get three different opinions!

Assessment

The specification we follow is provided by AQA . The structure of the exams is shown below.

AS Modules

1. Economics, Markets and Market failure

Examination 1 hour 30 minutes, 50% of AS

Section A: 20 multiple choice questions worth 20 marks; Section B: data response questions requiring written answers, choice of one from two contexts worth 50 marks

2. The national economy in a global context

Examination 1 hour 30 minutes, 50% of AS

Section A: 20 multiple choice questions worth 20 marks; Section B: data response questions requiring written answers, choice of one from two contexts worth 50 marks

A Level Modules

1. Markets and market failure

Examination 2 hours, 33.3% of A Level

Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks; Section B: essay questions requiring written answers, choice of one from three worth 40 marks

2. National and international economy

Examination 2 hours, 33.3% of A Level

Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks; Section B: essay questions requiring written answers, choice of one from three worth 40 marks

3. Economic principles and issues

Examination 2 hours, 33.3% of A Level

Section A: multiple choice questions worth 30 marks; Section B: case study questions requiring written answers, worth 50 marks

 

Further information

The Business Studies and Economics Department is housed at the top of the Coulson Centre and in the Sixth Form Centre. The Economics Department is well-resourced and, in addition to an extensive collection of economics books and journals in the Percival Library, a variety of journals and periodicals is available in the department. T

How to apply

If you want to apply for this course, you will need to contact Clifton College directly.

Last updated date: 02 June 2015
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Key information

  • Start date: Next September
  • Duration: 1 or 2 years

Venues

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    • ATTENTION: Please ensure that you understand that course fees will be payable before submitting your application.