Economics

Why choose A level economics?

Economics explores how individuals, businesses and governments make decisions about how to use limited resources to meet competing needs and wants. It helps us understand how markets work, why prices change and how economic decisions affect people, businesses and society.

The course examines both microeconomics, which focuses on individual consumers, businesses and markets, and macroeconomics, which looks at the wider economy, including inflation, unemployment, economic growth and international trade.

If you enjoy exploring current affairs, debating important issues and understanding the forces that shape our world, A level economics offers a fascinating and rewarding subject that develops analytical, mathematical and critical thinking skills.

How will A level economics be delivered?

A level economics is taught through five 50-minute teacher-led lessons each week, supported by a weekly 50-minute directed independent study session.

The course is structured around four themes, studied over two years:

• Theme 1: Introduction to markets and market failure – exploring how markets operate, supply and demand, and why government intervention may be necessary.
• Theme 2: The UK economy – performance and policies – examining economic growth, inflation, unemployment and the role of government economic policies.
• Theme 3: Business behaviour and the labour market – investigating business objectives, competition, market structures and how wages are determined.
• Theme 4: A global perspective – exploring international trade, globalisation, economic development and the challenges facing the global economy.

Students study themes 1 and 2 in year 12 before progressing to themes 3 and 4 in year 13.

Learning combines economic theory with real-world examples, current affairs, data analysis and discussion, helping students develop the skills to interpret and evaluate economic issues.

Assessment

A level economics is assessed through three written exam papers, each lasting 2 hours. All exams are taken at the end of the two-year course.

• Paper 1: Markets and business behaviour – covering microeconomics (themes 1 and 3).
• Paper 2: The national and global economy – covering macroeconomics (themes 2 and 4).
• Paper 3: Microeconomics and macroeconomics – a synoptic paper drawing on knowledge from all four themes.

Papers 1 and 2 each contribute 35% of the final grade, while paper 3 contributes 30%. There is no coursework component.

Progression

A level economics provides a strong foundation for further study and a wide range of careers. Studying this subject can help students to:

• Progress to university degrees in economics, finance, business management, accounting, politics and international relations
• Support applications for degree apprenticeships and professional training in finance, banking, business and the public sector
• Develop transferable skills in analytical thinking, problem solving, data interpretation and evaluating evidence
• Gain a deeper understanding of current affairs, government policy and global economic issues
• Prepare for careers in banking, financial services, consultancy, business management, economic research and government
• Build valuable skills for future study and employment through the ability to construct reasoned arguments and make informed decisions