Examination Board : AQA Economics
Introduction and Structure: GCE Economics looks at the fundamental forces which affect our lives, such as employment, prices, international trade and poverty. Economists are often in healthy debate with each other over these issues. It is this controversy which makes Economics lively and interesting and which allows candidates the opportunity to make their own judgments and form their own opinions. The course is structured according to four units:
Markets and Market Failure:
Whilst studying this area you will cover topics such as the economic problem and 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
The National Economy:
Whilst studying this area you will cover topics like measurement of macro-economic performance; how the macro economy works; the circular flow of income, aggregate demand / aggregate supply analysis and related concepts; macro-economic performance and macro-economic policy
Individuals, firms, markets and market failure
This area introduces you to topics such as individual economic decision making, production, costs and revenue, perfect competition, imperfectly competitive markets and monopoly; the labour market; distribution of wealth and income; poverty and inequality and the market mechanism, market failure and government intervention in markets.
The National and International Economy:
Whilst studying this area you will cover topics such as financial markets and monetary policy, fiscal policy and government spending, and the international economy and globalisation.
You will sit three two hour written examinations – each exam will be worth 1/3 of the full A levels. Paper one will cover markets and market failure; paper two will cover the national and international economy and paper three will draw material from the whole course.
Careers: Having studied Economics possible career options includes accountancy, stockbroker, banker and online financial and business-related careers, however most require a higher level of education. A-level economics can lead to degrees in economics, business studies, social sciences and engineering.
Entrance Requirements: Standard entry requirement for entry onto A level programmes of study is 6 GCSE’s at grade C or above including a B for Maths and a C for English.