Economics

Why study Economics?

It allows to answer key questions such as:

  • Why do we worry so much about inflation?
  • Why do house prices change so much?
  • How can the USA be so rich and also be so much in debt?
  • How can we use economic measures to control pollution?

“Economics examines what drives human beings to do what they do and looks at how they react when faced with difficulties or success.”

  • Preparing for University Courses such as Economics, Business, Geography, Law, Accounting, History and Social Sciences
  • Preparing for the work force providing skills such as research, analysis and evaluation skills. It also develops communication and ability to work with others. It deepens understanding of current events.

Who should study Economics?

  • Economics encompasses history, politics, geography, psychology and just a little bit of maths.
  • Anyone who wants to understand how people interact and behave with each other.
  • Anyone who wants to understand how the world works.

Awarding Body: AQA

AS level modulesA2 level modules
Unit 1 Markets and Market Failure Unit 3 Business Economics and the Distribution of Income
Unit 2 The National Economy Unit 4 The National and International Economy
Examined work of 1.25 hours and 1.25 hours Examined work of 2 hours and 2 hours

Year 12 AS level introduces students to microeconomic theory with topics such as supply and demand, the operation of the price mechanism and the causes of market failure in Unit 1. Unit 2 introduces students to macroeconomic theory providing students with an understanding of aggregate demand and supply analysis and knowledge of the UK economy and government policies over the last 10 years. During the AS Level students will develop a critical approach to economic models and methods of enquiry as well as developing a familiarity with statistics and data used by economists.

In Year 13, Unit 3 builds on Unit 1 allowing students to recognise the value and limitations of economic models. Students will develop a more formal understanding of economic efficiency and government intervention especially in global contexts. In Unit 4 develops macroeconomic theory especially on the consequences of changes in macroeconomic indicators. Students will understand the developments in the UK economy in relation to the global and European Union economy.

Minimum entry requirements

In order to study Economics at this level you must have achieved a grade B in GCSE Mathematics and a Grade B in GCSE English Language as an absolute minimum.

For more information see Miss Townend.