Economics AS and A Level ( Edexcel ) at Allerton High School
Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessment and demonstrate na awareness of current economic events and policies. Students are encouraged to use an enquiring critical and thoughtful approach to the study of Economics and develop an ability to think as an economist.
Student comment: "Economics is an appealing and attractive subject which helps you for the real world. The teachers are good and help you with the transition from GCSE to A Level."
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Theme 1 - Markets, Consumers and Firms
Students will learn about the market economy and how market forces shape the way in which firms meet consumer demand, how firms raise the finance they need and how they measure their performance.
Students will consider how markets work, looking at how supply and demand interact to allocate resources in local, national and international markets. They will learn how to apply supply and demand analysis to real world situations and be able to offer explanations to explain consumer behaviour.
Having investigated how markets work, students will then look at market failure. They will look at the nature and causes of market failure before considering the strengths and weaknesses of possible government invertentions to remedy market failure.
Theme 2 - The Wider Economic Environment
Business growth and competitive advantage lead naturally to the ways in which consumers are influenced by and respond to changes in prices and incomes. This theme goes on to develop an understanding of the nature of productive efficiency and the need to improve it. At this point the theme broadens out to cover global issues, fluctuations in the economy and the ways in which goverments respond to threats and changes with micro- and macro-economic policies.
Students will consider the different approaches that may be used by policy-makers to adddress the main economic issues.
Theme 3 - The Global Economy
Students develop their understanding of the meaning of globalisation. They then go on to explore ways in which firms expand into new markets and move to new locations for production, alongside looking at the issues relating to global trade and growth, and the trade policies that shape the global economy.
Multinational corporations figure significantly in this theme, along with the study of global labour markets, poverty, inequality and income distribution.
Students will apply supply and demand analysis to the labour market as they see how wages are determined and look at other influences on the rewards of labour.
Theme 4 - Making Markets Work
Students will investigate competition and market power in this theme, as well as other aspects of market failure, covered in greater depth from Theme 1, Markets, Consumer and Firms. The focus on regulation opens up the range of measures that can be used to prevent firms from using their market power in ways that are detrimental to the interests of society as a whole. In-depth coverage of macro-economic policy and the role of the financial markets allows students to explore the significant problems that have developed in recent years without needing technical understanding of the financial system.
You should preferably have studied Business or Business and Communication Systems at GCSE but this is not essential.
You should also have a minimum of 5 9-5 or equivalent grades at GCSE including English and Maths and preferably GCSE Business Studies or BCS grade 5 or above.
100% exam based
Paper 1 covers themes 1 and 4 = 35%
Paper 2 covers themes 2 and3 = 35%
Paper 3 covers all themes = 30%
At the end of the course you may decide to set up your own business or go work for someone else. Alternatively the skills and knowledge you acquire will equip you for further or higher education in a wide variety of courses.
For further information please contact Miss Oldroyd or Mr Walker at Allerton High on 0113 2034770.
How to apply
You can apply for this course through UCAS Progress. Add this course to your favourites so you can start making an application.