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  • Economics

    Department Profile

    Mr K Madhav BA - Head of Business & Economics

    Mrs R Symons BA (Hons)

    Ms R Mahil BA (Hons)

     

    THE COURSE

    Economics is the study of how society can best organise itself to overcome the fundamental problem that mankind has had from the beginning: that its material needs and wants can be fulfilled only by resources that are scarce (land, labour, raw materials, capital and enterprise). In particular, we study the operation of markets, and determine how the operation of the market can be improved, in order that we can better satisfy those material desires. But the key to studying Economics is to take an interest in what is going on around you.  It is a social science and as such, tries to investigate theories and reasons for human decision making in our society and attempts to explain how and why we (individuals, firms and governments) behave the way we do!

    The A Level in Economics (A) course is structured into four themes.

    • Theme 1 – Introduction to Markets and Market Failure
    • Theme 2 – The UK Economy
    • Theme 3 – Business Behaviour and Labour Markets
    • Theme 4 – The Global Perspective

     

    Students build knowledge and understanding of core economic models and concepts in Themes 1 (Introduction to Markets and Market Failure) and 2 (The UK Economy), and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4 and analyse, evaluate and propose possible solutions

    Entry Requirements

    • Minimum of 4 GCSE grades at B and 2 GCSE grades at C,
    • To include a 6 in GCSE Mathematics and English Language

     

    ADDITIONAL ACTIVITIES WITHIN THIS SUBJECT

    If you want to begin to ‘think’ like an economist, you should read a book like The Undercover Economist or the Logic of Life by Tim Harford, Freakonomics by Dubner and Levitt or Choice and Consequence by Schelling amongst a few. Economics students also have the opportunity to participate in competitions such as the Investor Challenge, The Bank of England and The Times 2.0 challenge.

     

    WHY STUDY THIS COURSE?

    Economics is highly respected by universities and provides you with the skills necessary to succeed in the work place. These include writing skills and analysing data, allowing you to challenge yourself in a subject that is applicable to the real world and provides you with brilliant career opportunities.

    Economics will allow you to gain a sound understanding of quantitative skills and be able to apply these skills to various types of statistical data commonly used by economists. This will involve calculations using economic data and the interpretation of data presented in the form of index numbers.

     

    ASSESSMENT

    We follow the Edexcel Economics A specification. This is a new-style linear A level course.  In the second year of the course, you will take three external exams that assess content covered in the first and second year.  These exams will determine your A level grade.

    Paper 1 will assess Markets and Business Behaviour.  Questions will be drawn from Themes 1 and 3.

    Paper 2 will assess The National and Global Economy. Questions will be drawn from Themes 2 and 4

    Paper 3 will assess content across all four themes focusing on Macroeconomics and Microeconomics.

    There is no coursework, though regular reading and viewing of quality news sources is highly beneficial and is strongly encouraged.

     

    YOU SHOULD TAKE THIS COURSE IF:

    You enjoy applying your learning to real-world practical scenarios and have an interest in current affairs then Economics may be the course for you!

     

    WHAT CAN I DO WITH AN A-LEVEL IN ECONOMICS?

    An A-level qualification in Economics can lead to a variety of degree courses at university such as Accountancy and Finance, Business and of course Economics. It is also a useful qualification for students who intend to pursue a career in Banking and Finance, Marketing, Law, Journalism, Tax Advice, Actuarial work and offer services as business analysts or Teaching.