Economics

Key Stage 5 (AS/A Level)

Board: AQA

Students gain exposure to a wide variety of topical economic issues including:

  • How might the migrant crisis affect the UK economy?
  • Should the UK joing the Euro?
  • What does the future hold for Greece?
  • Should we be concerned about the economic slowdown of China?
  • Will there be a housing crash in the UK?
  • Has the London Congestion Charge worked?
  • What is the effect of changing oil prices on consumers and firms?
  • How can we stop pollution and save the planet?
  • Why have some countries become richer under globalisation and others much poorer?

Course Aims

The course should enable candidates to develop:

  • A critical understanding of the workings of a market economy and how it affects individuals and institutions within it
  • The ability to appraise the role of the government in a market economy
  • An understanding of economic concepts, principles and theories in the context of current economic issues and problems
  • An enquiring, critical and thoughtful approach to economics, economic models and methods of enquiry in order to think as an economist.
  • The ability to make rational and consistent judgments when economic influences are present
  • The ability to communicate logically and effectively in an economic context.

Skills developed through the course are:

  • Presenting arguments and making judgments and
     
    justified recommendations on the basis of the available evidence. This requires a clear mind and an ability to think and analyse logically and to write good English.
  • Data skills - students will be expected to manipulate data in a variety of forms and to interpret their results, identify trends and to be able to relate data to economic theory.
  • Independent learners, to be able to collect and use the information from many sources, including textbooks, quality newspapers, student journals, the web and their own experiences.

Course Structure:

AS Examination. The AS qualification is modular and candidates will be required to complete two units:

Unit 1: Introduction to Markets and Market Failure

50% of the total AS marks

  • The paper comprises of two sections
  • Section A comprises of a range of multiple-coice and short-answer questions
  • Section B comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; studetns select one from a choice of two.
  • Duration: 1 hour 30 minutes
  • 80 marks available

Unit 2: The UK Economy-Performance and Policies

50% of the total AS marks

  • The Paper comprises two sections.
  • Section A comprises a range of multiple-choice and short-answer questions.
  • Section B comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; students select one from a choice of two.
  • Duration: 1 hour 30 minutes.
  • 80 marks available

Advanced Level (AS and A2)

Paper 1: Markets and Business Behaviour

35% of total qualification

Paper 1 will assess microeconomics and questions will be drawn from Unit 1 and 3. The paper comprises three sections. Students answer all questions from Section A and Section B and one from Section C.

  • Section A comprises a range of multiple-choice and short-answer questions.
  • Section B comprises one data response question broken down into a number of parts.
  • Section C comprises a choice of extended open-response questions; students select one from a choice of two.
  • Duration: 2 hours.
  • 100 marks available.

Paper 2: The National and Global economy

35% of total qualification

  • Paper 2 will assess macroeconomics and questions will be drawn from Unit 2 and 4. The paper comprises three sections. Students answer all questions from Section A and Section B, and one from Section C.

Paper 3: Microeconomics and Macroeconomics

  • The paper comprises two sections.
  • Each section comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; students select one from a choice of two.
  • Duration: 2 hours.
  • 100 marks available.

Careers, Support Subjects and additional Information

Economics can be combined with many subjects. Universities and employers regard economics as a 'numerate' discipline. It has the reputation of being a demanding subject, and therefore a qualification in it is a valuable asset. A-level Economics crosses the arts/science divide. For degree level study many University courses require an ‘A’ Level pass in Mathematics.

It can be used in a wide range of occupations and currently there is a shortage of economists. Students typically go on to study Economics, Management, Law or other Business related courses. Also students often study courses combined with a wide variety of other subjects such as History, Maths or a language because of the strong logical base that the subject provides.

Teaching Approaches

A mixture of traditional teaching methods is used in combination with class and paired discussions, and pupil driven learning. 

Students are expected to research topics on their own and should use ICT to produce material for class presentations and coursework.  Access to the internet is available in School to search for additional information. 

Trip to Frankfurt to European’s financial capital is an essential part of the course. This four day residential trip visits Audi factory, Stock Exchange and the European Central Bank among the tour highlights