Curriculum
Economics
Why study A Level Economics?
Economics is not simply all about numbers. It is the study of the world around us from a social, financial and cultural perspective, gaining an understanding of economic theories and interrelationships between macro and micro economic issues.
Whilst Economics is not listed by the Russell Group as a ‘facilitating subject’, it is a highly regarded academic field of study which can provide the underpinning knowledge, awareness and skills to progress to a wide range of further studies and professions.
What will I study at key stage 5?
The course is split into two main sections, the first section introduces students to microeconomic issues and the second section covers mainly macroeconomic issues. However, students should appreciate that microeconomics and macroeconomics are not entirely distinct areas of study. For example, microeconomic principles often provide fundamental insights into understanding aspects of the macroeconomy. Similarly, economic issues and problems often contain both a microeconomic and macroeconomic dimension.
Students acquire competence in quantitative skills that are relevant to the subject content and be familiar with the various types of statistical and other data which are commonly used by economists. They will be able to make relevant calculations from economic data and be able to interpret data presented in the form of index numbers. Examples of other relevant quantitative skills include: the construction and use of graphs and the application of statistical measures such as the mean, median and relevant quantiles.
Students will be encouraged to develop a critical approach to economic models and methods of enquiry. They will develop an appreciation that value judgements play an important role in economic decision making. Students will also understand the methodology of economics and the role of evidence whilst recognising that economics is a social science and that people’s behaviour is not necessarily rational or predictable.
Assessment at Key Stage 5
A LEVEL Economics: AQA 7136
| Overview | Focus |
|---|---|
| Paper 1: Markets and market failure Written exam: 2 hours 33.33% of the qualification 80 marks |
Individuals, firms, markets and market failure
Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks Section B: essay questions requiring written answers, choice of one from three worth 40 marks |
| Overview | Focus |
|---|---|
| Paper 2: Methods of Sociological Enquiry Written exam: 2 hours 33.33% of the qualification 80 marks |
The national and international economy
Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks Section B: essay questions requiring written answers, choice of one from three worth 40 marks |
| Overview | Focus |
|---|---|
| Paper 3: Economic principles and issues Written exam: 2 hours 33.33% of the qualification 80 marks |
Section A: multiple choice questions worth 30 marks Section B: case study questions requiring written answers, worth 50 marks |
Careers
Economics can lead to a wide range of careers in Economics and Finance-related professions including: Accountant, Actuarial Analyst, Chartered Accountant, Data Analyst, Economist, Finance and Banking, Financial Risk Analyst, Financial Planner, Forensic Accountant, Investment Analyst, Statistician, Stockbroker.
In addition, the knowledge and skills learned would also be useful for careers including: Actuary, Business Analysis and Development, the Civil Service, Data Science, Diplomacy, Economic and/or Political Journalism, Government and Politics, Management Consultancy, Policy Development and Management, Quantity Surveying.