Economics
Economics studies the models and concepts that help understand how micro and macroeconomics impact and influence the world around us.
Qualification Information
Subject Leader for Economics
Entry Requirements: 5 GCSEs at 5 or above including English and Maths
Length of Course: 2 Years Full Time
Assessment: 100% Examinations
Components: Theme One: Introduction to markets and market failure
Theme Two: The UK economy
Theme Three: Business behaviour and the labour market
Theme Four: A global perspective
Qualification: Edexcel: A-Level Economics
The Pearson Edexcel Level 3 Advanced GCE in Economics A is structured into four themes and consists of three externally examined papers. Students build knowledge and understanding of core economic models and concepts of markets and market failure, and then build on this and apply their knowledge of the UK economy. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an 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 and government intervention.
Theme 2: The UK economy – performance and policies
This theme focuses on macroeconomic concepts. Students will develop an understanding of; measures of economic performance, aggregate demand, aggregate supply, national income, economic growth and 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 and 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 and the role of the state in the macro economy.
If you are interested in how the world works, why some countries are rich and some poor, how supply and demand affect prices etc this is the course for your.
Economics can lead to a wide range of careers in Economics and Finance-related professions including: Accountant, Actuarial Analyst, Chartered Accountant, Data Analyst, Economist, Finance and Banking, Financial Risk Analyst, Financial Planner, Forensic Accountant, Investment Analyst, Statistician, Stockbroker.
- Is there a lot of maths is economics?
Yes you do need to be strong in interpreting and working figure out. - Is there a lot of essay writing in economics?
Yes you do need to answer essay questions for your assessments. - Is it similar to business studies?
Whilst there are a few similar topics it is delivered and taught very differently.