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Economics A-Level at St Clement Danes School

Course description

The field of economics is broken down into two distinct areas of study: microeconomics and macroeconomics. Microeconomics looks at the smaller picture and focuses more on basic theories of supply and demand and how individual businesses decide how much of something to produce and how much to charge for it. Macroeconomics, on the other hand, looks at the bigger picture, focusing on the national economy as a whole and provides a basic knowledge of how things work in the business world. This includes the role of Government in decision making, GDP and consideration of the impacts of unemployment.

Course content

Aims

  • To develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life
  • To apply economic concepts and theories in a range of contexts and to appreciate their value and limitations in explaining real-world phenomena
  • To analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it

This course is for those students who are interested in how economic agents go about making individual decisions (rational or irrational) and also how the UK economy functions as a whole. The course will engage students who are interested in understanding the motives and role of governments in the economy and whether interference is contributory to economic progress or a hindrance.

Motives explored include; Public spending on education and the NHS; Low inflation and high employment; Levels of interest rates and taxation; Protecting consumers whilst encouraging business competition; Joining the Euro.

AS

Unit 1: The operation of markets and market failure

  • Economic methodology Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets 

Unit 2: The national economy in a global context

  • The measurement of macroeconomic performance
  • How the Macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Macroeconomic policy

A2

Unit 1: Individuals, firms, markets and market failure 

  • Economic methodology 
  • Individual economic decision making 
  • Price determination in a competitive market 
  • Production, costs and revenue 

Unit 2: The national and international economy

  • The measurement of macroeconomic performance
  • How the Macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies and the international economy

Entry requirements

Attain at least a C grade in English Language/English Literature GCSE or Mathematics GCSE. English/English Language: B and Maths: B.

Assessment

AS Assessed by two written exams: Each exam is 1 hour 30 minutes, 70 marks. Each exam is 50% of AS. 

A2 Assessed by three written exams: Each exam is 2 hours, 100 marks. Each exam is 33% of AS. 

How to apply

If you want to apply for this course, you will need to contact St Clement Danes School directly.

Last updated date: 06 September 2016
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Key information

  • Start date: Next September
  • Duration: 1 or 2 years

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