Examination Board: AQA
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 judgements 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.
Three two hour written examinations, each worth one third of the full A-level.
- Paper 1: markets and market failure
- Paper 2: national and international economy
- Paper 3: material from the whole course
Careers and Progression
Having studied economics possible career options include 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.
Minimum requirement: 6 GCSEs Grades 9-4 (or equivalent), including Grade 4 or above in English and maths
Strongly recommended: Grade 5 in maths
Recommended: Grade 5 in economics