Economics A-Level at Freman College
Economics is a dynamic social science which is essentially about the concept of scarcity and the problem of resource allocation. It incorporates elements of History, Geography, Psychology, Sociology, Political Studies and many other related fields and yet it is studied as an integrated subject, requiring students to apply a broad range of economic theories models to different contexts. It examines the behaviour of consumers, households, firms and governments.
It is a significantly more academically rigorous subject than Business Studies, and considered a ‘hard’ subject by the Russell group of Universities. It is most suitable for highly committed sixth form students willing to consolidate their understanding through independent study and comfortable handling complex abstract and theoretical concepts, and making connections between them.
Economics is divided into the study of micro-economics and macro-economics. In micro-economics students gain an appreciation of the price mechanism, supply and demand, market efficiency and market failure and the theory of different competitive markets. In macroeconomics, students are introduced to key economic indicators such as inflation and exchange rates, and investigate the aims of government fiscal and monetary policy, considering potential issues and problems in managing the macro-economy.
Grade B or above in GCSE Maths and Business. Students who have not studied Business need to achieve grade B in History, Geography or RE.
In the summer of the Upper Sixth, students will sit three exams:
- Component 1: Economic Principles – multiple choice and structured questions.
- Component 2: Exploring Economic Behaviour – data response questions.
- Component 3: Evaluating Economic Models and Policies – three essays.
How to apply
If you want to apply for this course, you will need to contact Freman College directly.