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Economics A Level at St Angela's Ursuline School

Course description

From the moment a young child totters into the local sweetshop with his or her first pocket money to spend, ‘economic’ decisions have to be made. This type of decision making continues throughout a person’s life. Economics is the study of how a society decides to use its resources to provide the goods and services the community requires. As consumers, people have almost unlimited ‘wants’, but producers have limited means of satisfying those wants. The subject attempts to employ a scientific method of study to examine ways of resolving the problem, whilst observing the ‘real world’ in which economies operate.

Economics is a highly regarded subject by all universities and employers. A good grade in economics will be a major boost to many careers plans.

Course content

Economics A Level (Edexcel specification) is structured into four themes and consists of three externally examined papers.

Theme 1: Introduction to markets and market failure This theme focuses on microeconomic concepts. Students will develop an understanding of:
- nature of economics
- how markets work
- market failure
- government intervention

Theme 2: The UK economy – performance and policies
This theme focuses on macroeconomic concepts. Students will develop an understanding of:
- measures of economic performance
- aggregate demand
- aggregate supply
- national income
- economic growth
- macroeconomic objectives and policy.

Theme 3: Business behaviour and the labour market
This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of:
- business growth
- business objectives
- revenues, costs and profits
- market structures
- labour market
- government intervention

Theme 4: A global perspective
This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of:
- international economics
- poverty and inequality
- emerging and developing economies
- the financial sector
- role of the state in the macroeconomy

Entry requirements

Subject entry requirements- there is no need to have studied Economics at GCSE level.

We require a minimum of 5 A*- C grades at GCSE level including B grades at both Maths and English Language. Economics is a challenging subject requiring excellent numeracy and literacy skills.

Assessment

Students must complete all assessment in May/June in any single year.

Paper 1: Markets and business behaviour
Paper 1 will assess microeconomics and questions will be drawn from Themes 1 and 3. (35% of the total qualification)

Overview of assessment:
- Written examination.
- The paper comprises three sections. Students answer all questions from Section A and Section B, and one from Section C.
- Section A comprises a range of multiple-choice and short-answer questions.
- Section B comprises one data response question broken down into a number of parts.
- Section C comprises a choice of extended open-response questions; students select one from a choice of two.
- Duration: 2 hours.
- 100 marks available.

Paper 2: The national and global economy
Paper 2 will assess macroeconomics and questions will be drawn from Themes 2 and 4. (35% of the total qualification)

Overview of assessment:
- Written examination.
- The paper comprises three sections. Students answer all questions from Section A and Section B, and one from Section C.
- Section A comprises a range of multiple-choice and short-answer questions.
- Section B comprises one data response question broken down into a number of parts.
- Section C comprises a choice of extended open-response questions; students select one from a choice of two.

Paper 3: Microeconomics and macroeconomics
Paper 3 will assess content across all four themes. Students are required to apply their knowledge and understanding, make connections and transfer higher-order skills across all four themes. (30% of the total qualification)
Overview of assessment:
- Written examination.
- The paper comprises two sections.
- Each section comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; students select one from a choice of two.
- Duration: 2 hours.
- 100 marks available.

How to apply

If you want to apply for this course, you will need to contact St Angela's Ursuline School directly.

Last updated date: 15 March 2017
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