Key Stage 5

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A LEVEL COURSE OUTLINE

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This subject can be taken as a new subject at A-level without having studied Economics at GCSE.  We often find these students may outperform others who have studied GCSE Economics.  Previous students will describe Economics as an enjoyable and relevant subject that has enhanced their own personal development in terms of their ability to understand and discuss real world economic, social and political issues of the day.

 

Subject Content

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The specification addresses four compulsory modules:

1    Markets and Prices

2    The National Economy

3    Business Economics

4    The Global Economy

 

AS COURSE

 

Module 1:  Markets and Market Failure

 

This AS module introduces students to the market mechanism as a means of resolving the basic economics problem of limited resources and unlimited wants.  It examines the economics behaviour of consumers and producers in competitive markets and provides students with the opportunity to consider the causes and effects of changes in supply and demand through the application of the market model.  It introduces students to the notions of market efficiency and market failure.  The possible reasons for, and consequences of, markets failing to operate efficiently are explored.  The range of possible government responses to failing markets and the likely effectiveness of these responses are considered.

 

Module 2:  Managing The National Economy

 

The AS module introduces students to the macroeconomic issues in the context of the UK and Northern Ireland economies.  The basic aggregate demand and supply model, contemporary data and data relating to the period since 1979 should be used to examine economic performance and the effectiveness of government macroeconomic policy.

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AS Assessment

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Module 1

50% of AS

Written Exam

1hr 30mins

20% of A Level

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Module 2

50% of AS

Written Exam

1hr 30mins 

20% of A Level

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A2 COURSE

 

Module 3:  Business Economics

 

This A2 module builds on the content of Module 1 to examine in more detail how production is organised and how price and output are affected by the competitive structure of the market.  Various market models are considered and their usefulness and limitations as explanations of market behaviour are explored.  Written, numerical and graphical data from a range of different sources should be examined to provide students with opportunities to interpret information from the perspective of consumers, producers and government and to propose possible solutions to problems.

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Module 4:  The Global Economy

 

This A2 module builds on some of the content of Modules 1 and 2 to consider the theory and practice of international trade, payments and exchange.  The advantages and problems associated with specialisation and trade in an international context are investigated and the nature of the balance of payments and exchange rate determination are examined in more detail.  The domestic policy implications for the UK and Northern Ireland of recent developments such as the move towards closer economic and monetary integration in Europe and the increasing openness of work markets are explored.

 

Assessment

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Module 1       

Written Exam            

2hrs                

30% of A-Level

                       

Module 2        

Written Exam            

2 hrs               

30% of A-Level

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Skills Developed

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Economics is the study of how people, organisations and communities make the best use of available resources.  This specification is designed to provide students with a course of study in economics which will enable them to:

 

• recognise the main economic problems and issues faced by society and to comment on these in a thoughtful and informed manner;

• develop an understanding of the complexity of economic behaviour and an appreciation of the inter-relatedness of the economic decision-making and activity of individual’s businesses, institutions, communities and governments;

• appreciate the contribution of the discipline of economics to understanding the wider environment and society in which they live;

• develop skills, qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life.

 

Students should appreciate that the AS and Advanced GCE Economics courses require them to write clearly, coherently and at length.  The courses also require them to handle numerical data and to make calculations.  Before embarking on their studies, students should therefore satisfy themselves that they possess adequate levels of literacy and numeracy to cope with the demands of the course.

 

Careers

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Economics is an excellent subject choice – many A level students undertake courses such as Accountancy, Management, Banking, Business Studies, Law, European Studies, Finance, Politics etc.  Economics is a core element in these subjects and therefore makes university studies that bit easier.  It is a very useful subject in combination with Geography, History, English, Computers and Mathematics.  In previous years’ students have studied it along with Science subject to give them a broad balance.  Economics is a useful subject from a personal development point of view, helping you to understand and talk about the major economic, social and political issues of the day.

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Past Pupil Testimonials

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“I took economics as a new AS subject with no GCSE. I absolutely love it.  It provides an excellent balance for my other science based A levels.  Lessons are so interesting and I have learned things I will use forever!!”                                                              

- Clare Tracey, Year 14

 

“Having studied GCSE Economics, I was in no doubt about taking it for A Level.  Having the GCSE has certainly helped me.  I have really enjoyed being part of the prestigious Target  2.0 competition and can’t wait to travel to Manchester for the final.”

- Ruairi McPoland, Year 13 

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