Economics

Theme 1: Microeconomics – You will be required to study a selection of microeconomic models and to apply these to current problems and issues. Microeconomic models such as demand and supply, the nature of economics, how markets work, market failure and government intervention.

Theme 2: Macroeconomics – You will gain a good knowledge of developments in the UK economy and government policies that you will see and hear about in the local and national news. Students will study measures of economic performance, aggregate demand & aggregate supply, national income, economic growth & macroeconomic objectives.

Theme 3: Microeconomics – Theme 3 builds on Theme 1 and focusses on business economics, specifically business growth, business objectives, revenues, costs and profits, market structures, the labour market & government intervention.

Theme 4: Macroeconomics – Theme 4 builds on Theme 2 and focusses on the global context, specifically international economics, poverty and inequality, merging and developing economies, the financial sector & role of the state in the macroeconomy.

You will develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. You will also build upon your quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important. The exams focus on the skills of knowledge, application, analysis and evaluation.

Economics is a good subject for developing personal transferable skills. It is intellectually robust and of contemporary relevance. It can prepare you for very high-powered jobs that can be rewarding financially and intellectually. Many economics graduates have excellent, demanding and rewarding jobs.

A-Level: Three 2-hour exams in the summer of Year 13. A mixture of multiple choice, calculation, data response and essay questions.

Paper 1 – Markets and business behaviour
Paper 2 – The national and global economy
Paper 3 – Microeconomics and Macroeconomics

GCSE 5 grades 9-4 including GCSE English and Mathematics at grade 6. If you have studies Business GCSE, we would expect you to have gained at least a grade 6.

Many Politicians, Prime Ministers and other World Leaders have studied Economics to some level. Economists are employed in a range of posts which may, or may not, be related to the discipline they studied. Obviously, there are teaching Economics roles and working as an Economist either in the public sector or for a leading company but Economists also work in manufacturing, transport, communications, investment banking, insurance, investment and retailing industries, as well as in government agencies, consulting and charitable organisations. Economics was the most common degree from the 100 wealthiest billionaires.

For further information contact: Mr B Herman (b.herman@finhampark2.co.uk)

Extended reading is recommended for this course where students are encouraged to read the news and be aware of political decision made so the effects can be discussed in the classroom. www.tutor2u.net is a recommended website for understanding concepts and reading topical news.

For more information on the course please visit Edexcel website:  https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html