Exam Board: AQA
Aims
The aims of the course are as follows:
- Give students an understanding of the intricate relationships between households, governments and businesses.
- Encourage students to use their knowledge to combine analytical models with an awareness and consideration of the real world limitations.
- Provide students with the chance to understand the interactions of global forces which affect our everyday lives.
Entry Requirements
Students should have Grade 5 or higher in GCSE English and Mathematics, or the equivalent grade/mark in their national system of secondary education.
Course Structure
Year 1
Theme 1: Markets and Market Failure: Economic problem, types of markets, market mechanism, market failure and government intervention in markets
Theme 2: The UK economy: How macroeconomy works, economic performance and measurement, macroeconomic policy.
Year 2
Same as for Year 1, plus:
Theme 3: Business Behaviour and Labour Market: Behaviour economic theory, distribution of income and wealth, poverty and inequality.
Theme 4: Global Perspective: Globalisation, Trade, Exchange Rate, balance of payments
Assessment
- Paper 1 – Markets and Market Failure.
- Paper 2 – National and International Economy.
- Paper 3 – Economic principles and Issues.
All papers are 2 hour written papers for 80 marks each.
Core Text
AQA A Level Economics 1 & 2 by Ray Powell and James Powell.
Careers and Opportunities
The study of Economics is seen as a rigorous preparation for a wide variety of careers in both the public and private sector. Within the public (government) sector, students can go on to work as economists at the Treasury, at the Bank of England or with the European Commission. Economics graduates are employed directly by large companies as economic forecasters and market advisors. Economics is also seen as a good grounding for careers in accountancy, banking and law.
