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Economics A level **FEES PAYABLE** at Marlborough College

Course description

Economics is the social science that studies the processes that govern the production, distribution and consumption of goods and services in our society. Economics provides a fascinating insight into some of the most important forces that shape the modern world. It is an intellectually demanding subject that requires and develops a wide range of skills. The global financial crisis from 2008 onwards has seen a large increase in the number of candidates choosing to study economics throughout the country. Economics is a lively subject full of debate, opinion and conjecture. Not a day goes by without several major articles being published in the press on the subject. As recent events have certainly shown, economics is not a subject where all the answers are already known. The subject is continuously evolving, making it an intriguing prospect for the intellectually curious. 

The Economics and Business Studies department aims to develop a spirit of enquiry that gives pupils the capacity to make critical judgments, as well as develop analytical and evaluative skills. Through in-depth debating of current issues, recent case studies and high profile visiting speakers, pupils are encouraged to be more confident and capable of critical thinking. It is important that pupils go beyond the confines of the specification and understand the subtleties and complexities of business issues. Recent speakers have included Sir Stuart Rose and Sir Terry Leahy as well as local business people.

Marlburians are encouraged to:

1.    Develop an understanding and appreciation of economic and business concepts and theories through a critical evaluation of current issues, problems and the institutions that affect everyday life.
2.    Apply economic and business concepts and theories in a range of real life and abstract contexts and to appreciate their value and limitations in explaining real world phenomena.
3.    Analyse, explain and evaluate the strengths and weaknesses of the market economy, the modern business world, and the role of government within it.
4.    Above all, to participate effectively in society as a citizen, producer and consumer.
5.    Develop their skills in written communication and analysis using diagrams and statistics.

Course content

The Pearson Edexcel Level 3 Advanced GCE in Economics A is structured into four themes and consists of three externally examined papers. Students build knowledge and understanding of core economic models and concepts in Themes 1 and 2, and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4.

Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.

Theme 1: Introduction to markets and market failure.

Theme 2: The UK economy - performance and policies. 

Theme 3: Business behaviour and the labour market. 

Theme 4: A global perspective. 

Teaching within the department concentrates on developing the higher orders of Benjamin Bloom's taxonomy, evaluation and analysis. It is fully expected that students in the department will read widely from a range of recommended texts. Prior reading is absolutely critical to the development of the spirit of inquiry vital for academic success. It also allows lesson time to be devoted to exploring contemporary issues in an environment of active and independent learning.

Entry requirements

Understanding economics requires a good level of numeracy..  A good economist needs to be able to analyse economic data, to interpret graphs and tables, to identify trends, and to explain these using economic theory. This requires a clear mind and an ability both to think logically and to write good quality English.

Assessment

PAPER 1: Markets and business behaviour 

Externally assessed; 35% of the total qualification.

Written examination; 2 hours; 100 marks available.

  • 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 2: The national and global economy

Externally assessed; 35% of the total qualification.

Written examination; 2 hours; 100 marks available.

  • 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

Externally assessed; 30% of the total qualification.

Written examination; 2 hours; 100 marks available.

  • 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.

Future opportunities

It is not surprising that a large proportion of leading corporate executives have studied economics, together with many leading politicians. Economics is also a crucial field of study for those wishing to pursue careers in banking and finance. 

A significant proportion of the A-level girls and boys go on to read this, or related, subjects at university. The great advantage is that these skills and subjects are transferable and will thus be useful in every walk of life.

Further information

Student Activities

  1. Annual ‘Bank of England Target 2.0’ Competition
  2. Economics Society Talks
  3. Annual Royal Economic Society ‘Young Economist of the Year’ Essay Competition
  4. 2011 St John’s College Cambridge – 500th Anniversary Essay Competition
  5. IFS ‘Student Investor’ Competition

How to apply

If you want to apply for this course, you will need to contact Marlborough College directly.

Last updated date: 18 November 2016
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