WHY SHOULD I STUDY A LEVEL ECONOMICS?
Most students choose to study Economics, at least in part, because they want to understand better how our society works, how businesses are run and to have a further understanding of current affairs. We aim to develop your knowledge of the many different issues facing households, governments, firms and consumers and the theories, which underlie explanations of their decision making.
In recent years we have experienced great upheavals in the way our world works such as global warming, the global financial crisis, Brexit and the Covid 19 Pandemic. It has never been more important to understand clearly the ways in which all our lives are shaped by the decisions on how we make use of the relatively scarce resources of the planet. Students will apply economic theories and concepts to current issues such as austerity, financial markets, global warming, globalisation, the UK’s productivity gap, the growing inequality in modern economies and Brexit (the impact on the UK economy of leaving the European Union).
The Eduqas course involves understanding the theories and models that underpin economic thinking; developing a ‘toolkit’ of economic concepts, and then applying these to a wide range of contemporary issues and practical problems.
PROGRESSION ONTO YEAR 2
Progression to the second year of this A Level course will be dependent on having made satisfactory progress in the first year of the course, including achieving at least an E grade in a formal spring internal assessment, as well as the maintenance of a good level of attendance and commitment throughout the year.
The A Level course is divided into three discrete areas of study:
- Microeconomics: involves scarcity and choice, markets (demand & supply), theory of the firm, resource allocation and market failure.
- Macroeconomics: involves indicators of macroeconomic performance, government objectives, aggregate demand and aggregate supply, policy instruments and their limitations.
- Global Economics: involves international trade, international competitiveness, the balance of payments, the EU, globalisation, the role of multinational companies and economic development.
Economics requires some ability in interpreting statistical data, graphs and diagrams. 20% of the A Level assessment will test these quantitative skills. Economics students also need to have strong written skills as the main assessment method is through essays.
FINAL ASSESSMENT AT THE END OF YEAR 2
A Level Economics is assessed by three examinations:
- Economic Principles: 30% of marks (multi-choice and short answer questions).
- Exploring Economic Behaviour: 30% of marks (data response questions).
3. Evaluating Economic Models and Policies: 40% of marks (essays).
MINIMUM ENTRY CRITERIA
Standard College entry requirements and a minimum of:
GCSE English Language or English Literature
In at least one predominantly written based GCSE subject (from English Language, English Literature, History, Religious Studies or Sociology)
Please note that it is not possible to study A Level Economics alongside A Level Business in your first year – although, for those who choose to study A Level Economics, in year two A Level Economics students will then have the option of adding an accelerated ‘double option’ A Level Business to the study of A Level Economics.
WHAT CAN I DO AFTER STUDYING A LEVEL ECONOMICS?
Economics can lead to degree level study of the social sciences and business-related courses. Typical university entry criteria for this subject are AAB grades at A Level and many universities require one of the grades to be in A Level Mathematics and most prefer it.
Some students choose not to go to university and take up apprenticeships or study for professional qualifications in accountancy and banking. In recent years many of our students have had great success on the Government Economics Service (GES) Degree Apprenticeship Programme at Kent University: a fully funded degree that guarantees a permanent position in the GES to those who pass with a 2:1 or above.
Students that perform well in the end of year assessment can, in their second year, follow an accelerated A Level Business course alongside their A Level Economics. This ‘double-option’ is delivered in two double lessons per week. This route enables good economists to gain four A Levels which gives them a considerable edge when applying for university courses in popular subjects at sought after institutions (including Russell Group universities).
A Level Financial Certificate is a ‘4th academic course option’ which will interest and be of value to a number of A Level Economics students (see page 94). it offers a practical look at the financial products we use on an everyday basis and how we can make the most of our personal finances.