Economics A Level at Carmel College
Studying A Level Economics will develop your understanding of economic concepts and theories and you will develop a critical consideration of current economic issues. Economics is a study of scarce resources and how those resources are allocated to various uses in an economy.
The subject is split into three broad areas of study:
Microeconomics: this unit looks at the supply and demand of both goods and labour. Have you ever wondered why Gareth Bale earns in just seven days what many of his fans will earn in an entire decade? This unit also looks at costs, revenues and profits in a variety of different markets. Why do Businesses pay $4.4 million for a 30 second advertising slot in the Super Bowl?
Macroeconomics: this unit looks macroeconomic issues, such as inflation, unemployment, exports and imports. Do you want to know how much influence the financial sector has on the UK economy? What is the role of the Bank of England? Should the NHS be privatised? Is the HS2 a waste of resources? How much does the country owe and who do we owe the money to?
Trade and Development: this unit looks at why countries trade and the importance of Globalisation. What are the advantages and disadvantages of membership of the EU? What are the problems facing emerging economies? Why do companies like Apple and Nike set up factories in China?
You will need GCSE grade B in both Maths and English Language.
Exam Board – EDUQAS
You will sit 3 separate exams at the end of your two year course. There is no assessed coursework in A Level Economics.
Component 1 Economic Principles: this is a written examination, it will last 1 hour 30 minutes and will make up 30% of your qualification.
Component 2 Exploring Economic Behaviour: this is a written examination, it will last 2 hours 30 minutes. It is worth 30% of your qualification.
Component 3 Evaluating Economic Models and Policies: this is a written examination, it will last 2 hours and 30 minutes. It is worth 40% of your examination.
A high proportion of A Level students decide to continue their study of the subject at a higher level.
Degree courses in Economics and related disciplines (such as Money, Banking and Finance, Business Studies, Sociology, Management Studies, Economic History, Politics) are increasingly popular at a variety of Higher Education institutions. Economics also combines very well with Languages, and is a key component in the professional examinations for Accountancy, Law, Banking and Insurance.
The Economics department has a clear focus on giving you a head start for life after Carmel College regardless of your chosen career path. We have an established link with KPMG, listed as one of the world’s top employers. KPMG have an outstanding School Leaver’s Programme and have chosen to work with our students in order to help them apply. This includes in house workshops and seminars giving us a head start over other candidates.
What is the department like?
In A Level Economics we currently have around 76 students, in 4 classes. Our students study a varied mix of other subjects for example Mathematics, Languages, Law, History and Business Studies. We have 2 members of staff. The Economics classroom is equipped with a touch screen. Students have access to a computer suite and a student work base for quiet study and research. There is a lot of support on offer, including tutorials and drop in sessions every lunch time.
How to apply
If you want to apply for this course, you will need to contact Carmel College directly.