ECONOMICS

 

 Course: AS and A- Level

 

Exam Board: Edexcel (Economics A)

 

Entry Requirements: 5+ in English Language or Literature, 5+ in Maths

 

Course description:

 

At AS, this specification will enable candidates to develop an understanding of, and an insight into, micro and macroeconomics.  There are two units:

  • Theme 1: Markets and market failure.  In this unit you will explore the economic problem & the allocation and production of resources.  It examines the issue of market failure and assesses government intervention in the market.  

  • Theme 2: The National Economy.  This unit teaches how the macro economy works including AD/AS analysis, the circular flow of income, and related concepts.  You will review economic performance and macroeconomic policy

 

At A2, candidates develop the micro and macroeconomics already learnt at AS, considering economic concepts and theories in greater depth and recognising the values and limitations of economic models. There are two units:

 

·         Theme 3: Business Economics and the Distribution of Income.  You will study a range of market structures, both competitive and concentrated and their effect on consumers and society.  The unit also explores objectives, costs and revenues experienced by the firm, labour markets and the role of government intervention in the market.

·         Theme 4: The National and International Economy. In this unit you will analyse macro-economic indicators, whilst exploring how the national economy is managed. You will also explore the International Economy.

 

All units are assessed by external examination, involving the study of data and extended writing.  There is no coursework.

 

Why you should consider this course:

 

Economics A-Level is designed to encourage you to develop an understanding of current economic issues, problems and institutions that affect everyday life.  After studying economics, you will be able to apply economic concepts and theories in a range of contexts and appreciate their value and limitations in explaining real world phenomena.  You will then be able to analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it.

 

As a student of economics you will gain a highly marketable set of skills which will enable you to undertake further study across a range of disciplines.   These include the ability to:

  • think analytically, critically and strategically,

  • reduce complicated problems to their important components, and formulate solutions to these problems,

  • apply up-to-date theoretical ideas as a framework for understanding the world around you,

  • develop your numeracy skills,

  • communicate effectively, both verbally and in writing.

 

Universities and employers regard economics as a ‘numerate’ discipline. It has the reputation of being a demanding subject, and therefore as a qualification it is a valuable asset. Successful candidates will be able to apply for a variety of university courses and careers in the business and economics field.

 

Contact Name: Miss R Jackson, rjackson@lampton.org.uk