Economics AS/A-Level at Rickmansworth School
Economics is a social science that focuses on the study of how society copes with the ‘economic problem’ – the existence of unlimited wants and scarce resources. How do consumers, firms and governments make decisions regarding resource allocation? As a society, how do we decide who gets what? It is broken down into micro and macroeconomics.
Microeconomics is a study of individual markets. It explores how the interaction of supply and demand determines the price of goods and services, and the quantity produced and consumed. In micro economics students will study: how markets work, objectives of firms, how supply/demand are affected by a number of factors, market failure, government intervention and the labour market amongst many other themes.
Macroeconomics examines broader issues that apply to the national and global economy. Students will learn about macro-economic objectives, performance indicators, aggregate demand and supply, national income and growth, poverty and inequality, the financial sector, emerging and developing economies.
The qualification requires students to think critically, creatively and logically. There is a requirement to be comfortable with mathematical models to demonstrate economic concepts. To gain successful outcomes in the subject it is vital that students have a good understanding of real economic events over the last 10 years.
COMPONENT 1 Introduction to Markets & Market Failure
COMPONENT 2 The UK Economy - Performance & Policies
COMPONENT 1 Markets & Business Behaviour
COMPONENT 2 The National & Global Economy
COMPONENT 3 Microeconomics & Macroeconomics
A Grade in Business (if taken)
B Grade in Maths
B Grade in English
AS LEVEL - comprised of two exams
A LEVEL - comprised of three exams
Being a social science Economics lends itself to many areas of further study or employment. You can use Economics to progress to a degree in Economics, PPE, Business, Management, Accounting, Maths, Geography and many others. You can move onto working in a range of organisations from those supporting humanitarian issues to banking. There is no limit to where this A Level will take you.
How to apply
If you want to apply for this course, you will need to contact Rickmansworth School directly.