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Economics A level at Long Road Sixth Form College

Course description

Economics will enable you to understand the significance of much of the information you hear every day on the news. It examines how society can make the best use of its scarce resources. Economics is a social science, going well with subjects from the arts and the sciences. It is a subject based on theories which are then applied to a wide range of everyday examples. For example, you might consider: why footballers’ wages are so high; why the price of  a commodity such as oil rises and falls so often; whether students should pay for their higher education; why health care is free in the UK but charged for in the USA; what the consequences have been of a single currency in Europe; how the Chancellor of the Exchequer and the Bank of England manage the economy; why the tax on cigarettes and alcohol is so high; why the government has banned smoking in public places and raised the age for buying cigarettes to 18.

You will benefit from Economics if you:

  • have an interest in current affairs and want to focus on real world issues and problems;
  • have the ability to relate to theoretical models and to examine issues logically and systematically;
  • are keen to work with numbers (as 20% of the marks are from showing number skills) and diagrams;
  • can express yourself well, both orally in discussion and on paper;
  • are keen to carry out independent research to apply ideas rather than just listening and reading.

 

Course content

1. Microeconomics

This unit examines the nature of the economic problem (scarce resources and unlimited wants) and how different societies resolve it. It goes on to look at how markets operate via Supply and Demand to set the price of goods and services, including workers’ wages, and whether markets are operating efficiently or not. The module then looks at what happens if the outcome determined by the market is not desirable, for example high levels of smoking, alcohol consumption and obesity, and the actions governments can take to correct this market failure. Finally, market theory is applied to the labour market and the theory of how wages are determined.

2. Macroeconomics

This module looks at large-scale issues. It focuses on different theories of how the economy as a whole operates, looking at the standard measures of a country’s economic performance such as inflation and unemployment levels and the difficult, and sometimes conflicting, measures governments can take to move to a more ‘desirable’ level.

3. Global economics

This section looks beyond the UK economy, examining the theory behind (and the reality of) international trade. The arguments for and against free trade are considered as are the benefits and drawbacks of globalisation. Theories of economic development are looked at to try and explain why some developing economies achieve whilst others do not, and what may hinder, or help, that development.

Assessment

This is a totally examination assessed course. All examinations take place at the end of the two-year course.

Entry requirements

At least 7 GCSEs at Grade 4 in a range of subjects including Maths and English. A minimum of Grade 4 or equivalent is required in Economics if taken at GCSE level.

Future opportunities

Employment opportunities where your economics skills will be particularly valued include: business management; consultancy; journalism; media; the law; marketing; the Civil Service; politics and teaching.

Here are some of the university degrees being taken by students who completed this course at Long Road in 2017: Economics at Reading, Economics at Northampton, Financial Economics at Kent, Investment and Financial Risk Management at City, University of London, Law with International Business at Leeds Beckett, Economics and Accounting with Professional Development at Brunel, Economics with Business at Keele, Business Economics at Anglia Ruskin, Business with Management at Northumbria, Economics at Bristol, University of the West of England and Law at Sheffield.

 

Further information

Visit: www.longroad.ac.uk

Come to our Open Evening on 17th and 18th October 5-9pm.

How to apply

You can apply for this course through UCAS Progress. Add this course to your favourites so you can start making an application.

Last updated date: 27 September 2018
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