In essence, Economics is a theoretical study of the ways open to a society to organise its production and distribution of goods and services – what to produce, how to produce it, in what quantities and at what price. Is this task best achieved by market forces or by some form of government intervention? How the economy is best managed when we consider economic objectives such as inflation, unemployment, economic growth, the exchange rate and the balance of payments. These are some of the questions asked in the AS level syllabus.
The full A-Level builds on this by studying Business behaviour, Financial Markets, economic policy, globalisation, and economic development.
It is also important to make clear what Economics is not. It is not Business Studies, Commerce or Accountancy; it is not a vocational subject, which will specifically prepare students for a career in the world of commerce.
What will I learn on this A-Level course?
A person who has studied Economics to either AS or A-Level:
How will I be assessed?
As of 2015 this is now a linear A-Level course. Students will confirm whether they will be sitting AS or continuing to A-Level in the first half of Year 12.
Students are assessed using a combination of Multiple Choice, Data Response and Essay questions. Some themes contain context based multiple choice questions, testing knowledge and understanding. Data response involves using numerical information and applying it to the theory learned in class. Essay questions essay are also used as a form of assessment.
What kind of student is this course suitable for?
At least Grade 7 in both GCSE Maths and GCSE English either English Language or Literature accepted) is required by students wishing to study A-Level Economics.
Economics is a subject for those with an interest in current affairs and who enjoy studying a subject that affects their own everyday lives. A look at any TV news broadcast reveals just how much of the content is economic. If a student plans to do Economics at university, A-Level Mathematics would be useful. Economics combines equally well with Arts subjects such as History, English and Languages, with Social Science subjects such as Politics and Sociology, or with Science subjects.
Economics is relevant to a very wide range of careers including: