Economics
The study of Economics enables students to understand how the material resources of an individual, a community, a country or the world are managed. It is an ideal subject for students who are beginning to become interested in current affairs and who want to develop an informed and critical knowledge of how the world works
A-Level Economics is welcomed by universities as a rigorous and academic qualification. The subject works particularly well with Mathematics, which is a prerequisite for a degree in Economics at most universities. It also complements subjects such as Politics, History, Psychology and Geography. Taking an enquiring, critical and thoughtful approach to the subject, students of our Edexcel A level in Economics A will develop the ability to think like an economist, and to appreciate the contribution of economics to an understanding of the wider economic and social environment.
Key Stage 3
N/A – Economics is not delivered as a subject Key Stage 3.
Key Stage 4
N/A – Economics is not delivered as a subject Key Stage 4.
Key Stage 5
The Edexcel Level 3 Advanced GCE in Economics is structured into two areas, micro economics and macroeconomics and consists of three externally examined papers. Students build knowledge and understanding of core economic models and concepts in Year One, and then build on this and apply their knowledge to more complex concepts and models in Year Two. 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.
Year 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
- government intervention
Year 1: The UK Economy- Performance & 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
- macroeconomic objectives and policies
Year 2: Business Behaviour & Labour Market This theme develops the microeconomic concepts introduced in Year 1 and focuses on business economics.
Students will develop an understanding of:
- business objectives
- revenues, costs and profits
- market structures
- labour market
- government intervention
Year 2: A Global Perspective This theme develops the macroeconomic concepts introduced in Year 1 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
Exams & Assessment
A Level
Board: Edexcel (Economics A)
Enrichment & Extra-curricular
The aims and objectives of the Level 3 Advanced GCE in Economics A are to enable students to:
● develop an interest in, and enthusiasm for, the subject
● appreciate the contribution of economics to the understanding of the wider economic and social environment
● develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts
● use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist
● understand that economic behaviour can be studied from a range of perspectives
● develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.
YES Club: Young Economists Society runs weekly sessions for Key Stage 4 and 5 students.
Mentoring club: Year 13 runs Mentoring club to support Year 12 students in Economics
Resources & Reading Lists
Bank of England Economics Student Resources: https://www.bankofengland.co.uk/education/education-resources
Books for staff and for students aiming for top universities
|
Title |
Author |
Publisher and Price |
ISBN |
|
Why Nations Fail |
Acemoglu & Robinson |
Profile Books £12.99 |
978 1 84668 4302 |
|
The Rise & Fall of American Growth |
Robert Gordon |
Princeton Press £20 |
978 0 69117 5805 |
|
The Big Short |
Michael Lewis |
Penguin £9.99 |
978 0 14104 3531 |
|
Fooled by randomness |
Nicholas Taleb |
Penguin £9.99 |
978 0 14103 1484 |
Resources: