Examination Board: AQA
A-level economics is a subject rooted in real world application, combining both rational thought with behavioural economic insight. Students will confidently be able to use a range of mathematical skills alongside strong communication, both written and verbal, to present holistic arguments on a range of concepts. The course is designed to look at both microeconomics and macroeconomics individually before investigating synoptic links between the two, for example with the labour market.
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 consists of the following topics:
Individuals, firms, markets and market failure
Economic methodology and the economic problem
Individual economic decision making
Price determination in a competitive market
Production, costs and revenue
Perfect competition, imperfectly competitive markets and monopoly
The labour market
The distribution of income and wealth: poverty and inequality
The market mechanism, market failure and government intervention in markets
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
Financial markets and monetary policy
Fiscal policy and supply-side policies
The international economy
The course is taught in a linear nature over Years 12 and 13 with formal exams at the end of Year 13, with all units taught in a cohesive manner. The two introductory units (economic methodology and the measurement of macroeconomic performance) are covered first to ensure students have a secure knowledge base in the fundamentals before progressing to more complex units. Subject content will be fully delivered by Easter so that the summer term can be dedicated to retrieval, revision and examination practice in preparation for the A-level examinations.
Topics include: the economic problem and economic methodology; price determination in a competitive market; production, costs and revenue; perfect competition, imperfectly competitive markets and monopoly; individual decision making
Topics include: measurement of macroeconomic performance; how the macroeconomy works; economic performance; fiscal policy and supply side policy
Topics include: the labour market; the market mechanism, market failure and government intervention in markets
Topics include: financial markets and monetary policy; the international economy
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: economic principles and issues
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