Economics A Level EDEXCEL at Grey Court School
Economics is a fascinating subject that helps students to understand the world around them. It is the study of how to allocate scarce resources in the most effective way. It involves looking at microeconomics (firms, industries, individuals and households) and macroeconomics (the economy as a whole – inflation, unemployment, trade and development, tax and spending).
Aside from this being a wholly new subject for most students, there will also be differences in both the teaching and learning. In particular, there will be a focus on debate, discussion and the analysis using economic models. Students will continue to develop as independent learners.
The operation of markets and market failure
The focus of this unit is on how well the forces of demand and supply allocate scarce resources in a market economy. You will learn about why markets don’t always work well and why it may be necessary for government to intervene to improve the allocation of resources.
The national economy:
This unit focuses on the government’s macroeconomic targets (such as stable economic growth and low unemployment) and how economic policy can be applied to help achieve these targets.
You will study all the topics covered in Year 12 in greater detail as well as:
Individuals, firms, markets and market failure:
- individual economic decision making
- perfect competition, imperfectly competitive markets and monopoly
- the labour market
- the distribution of income and wealth: poverty and inequality.
The national and international economy:
- financial markets and monetary policy
- fiscal policy and supply-side policies
- the international economy.
5 A* - C including minimum grade 5 in Maths and grade 5 in English
The A-level course is assessed through three 2 hour examinations, each completed at the end of year 13. Each paper is worth one-third of the A-Level grade. Papers 1 and 2 include both data response questions and essay questions. Paper 3 includes multiple choice questions and questions based on a case study
Economics is well regarded by universities as a rigorous A-level, because of the analytical skills that it teaches. The model-based approach of the subject gives a good mental framework for almost any subsequent degree. Careers could include banking, management consultancy, accounting, regulation, public policy and journalism.
Enrichment opportunities: Where possible, various opportunities will be made available, including a trip to the Bank of England. You may also have the opportunity to attend lectures at universities
Economics is a very well regarded subject and complements and supports most other subjects. Students benefit when they study Economics with: The Humanities – Economics supports and is helped by the study of history and geography, for instance, as these subjects also use essay writing, source/data analysis and require understanding of the wider world. Mathematics – Economics often requires a logical and systematic approach and maths helps students develop this. Social sciences – Economics has a significant impact on Politics and both subjects incorporate current affairs.
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.