Economics A Level at Ashington Community High School
Students are introduced to economics through building knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real-world businesses and the environments in which they operate. Students will study four themes/units over two years
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.
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 governments respond to threats and changes in micro and macroeconomic policies. Students will consider the different approaches that may be used by policymakers to address 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 for 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, Consumers 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 macroeconomic policy and the role of the financial markets allows students to explore the significant problems that have developed in recent years without needing a technical understanding of the financial system.
It is necessary for students to have gained a grade B in GCSE Business. Students will need to be able to work independently and as part of a team and it is essential that they are organised. Students should also have GCSE Mathematics and English Language or Literature at grade 5 or above
There will be three exams in total, relating to the four themes and lasting two hours each. Paper three involves a prereleased case study.
There are many options on completion of this course. Students may decide to go on to an apprenticeship, employment or university. Related areas are:
- Other related courses
How to apply
If you want to apply for this course, you will need to contact Ashington Community High School directly.