Economics

Key Stage 5 (AS/A Level)

Board: Edexcel A

Course Aims

The course should enable candidates to:

  • develop an interest in, and enthusiasm for, the subject
  • appreciate the contribution of economics to the understanding of the wider economic and social environment
  • develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts
  • use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist
  • understand that economic behaviour can be studied from a range of perspectives
  • develop analytical and quantitive skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.

Course Details

Students build knowledge and understanding of core economic models and concepts in Themes 1 and 2 and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4.

Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in assessments and demonstrate and awareness of current economic events and policies.

Theme 1: Introduction to markets and market failure

This theme focuses on microeconomic concepts. Students will develop an understanding of:

  • nature of economics
  • how markets work
  • market failure
  • government intervention

Theme 2: The UK economy - performance and policies

This theme focuses on macroeconomic concepts. Students will develop an understanding of:

  • meaures of economic performance
  • aggregrate demand
  • aggregrate supply
  • national income
  • economic growth
  • macroeconomic objectives and policy

Theme 3: Business Behaviour and the labour market

This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of:

  • business growth
  • business objectives
  • revenues, costs and profits
  • market structures
  • labour market
  • government intervention

Theme 4: A global perspective

This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of:

  • international economics
  • poverty and inequality
  • emerging and developing economies
  • the financial sector
  • role of state in the macroeconomy

Assessment

Exam - AS Level

Exam AS Level % of GCE Details
Paper 1 - Introduction to markets and market failure 50

Questions drawn from Theme 1.

Section A: Multiple choice and short answer questions.

Section B: One data response question broken down into a number of parts, each including one extended open response.

Paper 2 - The UK economy performance and policies 50

Questions drawn from Theme 2.

Section A: Multiple choice and short answer questions. 

Section B: One data response question broken down into a number of parts, each including one extended open response.

Exam - A Level

Exam A Level % of GCE Details
Paper 1 - Markets and business behaviour 35

Questions drawn from Theme 1 and Theme 3.

Section A: Multiple choice and short answer questions

Section B: One data response question

Section C: One extended open response question (choice of one from two)

Paper 2 - The national and global economy 35

Questions drawn from Theme 2 and Theme 4.

Section A: Multiple choice and short answer questions

Section B: One data response question

Section C: One extended open response question (choice of one from two)

Paper 3 - Microeconomics and macroeconomics 30

Questions drawn from all themes.

Two data response questions broken down into a number of parts, each including one extended open response question (choice of one from two for extended open response questions)