Economics A Level at Bethnal Green Academy
Unit 1: Micro Economics – Market and Market Failures
Unit 1 will explore the basic economic problem of resource, allocation through pricing mechanism and the choices that the consumers and the producers make. The students will develop an understanding of the basic microeconomics models, such as demand and supply and how these models apply to the current economic issues. There are 5 sections to this unit: The Economic Problem, The Allocation of Resources in Competitive Markets, Production and Efficiency, Market Failure and Government Intervention in the Market. The last two parts are of significant importance and the students will be given opportunities to apply their knowledge and skills to a wide variety of situations and to different markets and examples of market failure, including environmental market failures. The ways in which government makes decision and implements new policies will be discussed. During their course of study, students will be encouraged to develop a critical approach to economic models and methods of enquiry.
Unit 2: The National Economy
This unit is an introduction to macroeconomics, which is the study of the economy as a whole, and will focus on the United Kingdom’s economy. At the heart of the discussions will be the developments in the UK economy and government policies over the past ten years. The performance of the United Kingdom is influenced by its membership of the European Union (EU) and other external events in the international economy. This unit will explore these issues and their impact on the UK economy. The students will be given the opportunity to widen their knowledge on the various types of statistical and other data which are commonly used by economists. The students will acquire knowledge and understanding of the AD/AS model. During their course of study, students will be encouraged to develop a critical approach to economic models and methods of enquiry.
Unit 3: Business Economics and Distribution of Income
This unit builds on the knowledge and skills students have developed in Unit 1. It will require students to use and evaluate more complex microeconomic models; for example, perfect competition, monopoly and oligopoly, and to develop further their critical approach to such economic models and methods of enquiry. Students will need to demonstrate a realistic understanding of the decisions made by firms and how their behaviour can be affected by the structure and characteristics of the industry. The five main parts to this unit are:-
The Firm: Objectives, Costs and Revenues, Competitive Markets, Concentrated Markets, Labour Market, Government Intervention in the Market.
Unit 4: The National and International Economy
Students will need to be able to apply the AD/AS analysis from Unit 2 to the issues raised in this unit. They should be able to analyse and evaluate the causes of changes in macroeconomic indicators in greater depth than expected at AS Level. There is an emphasis in Unit 4 on the consequences of changes in macroeconomic indicators such as GDP, interest rates and inflation.
Grade B GCSE in Maths and English.
How to apply
If you want to apply for this course, you will need to contact Bethnal Green Academy directly.