Our Lady Of Sion

Sixth Form Psychology

Sixth Form

Economics

A Level Economics aims to provide students with an understanding of some of the central approaches to the fundamental problem of Economics: How should scarce resources be allocated?

Economics often helps us understand what we read about in the news, and a big part of being successful on the course is being interested in, and prepared to discuss, current affairs.

Since Economics is a subject about the world around us, time will be spent examining source materials to recognise the use of economic theory, and evaluating the arguments presented in source materials. This is also an important skill for examinations.

No previous knowledge of Economics is required.  It is recommended that students have attained at least a grade 6 at English Language GCSE. The course does not involve any Mathematics beyond GCSE level, but interpreting graphs is a key skill, and students should be able perform basic Mathematical calculations.

Key Stage 5

A Level- Topics and Assessment

The 2 year A level course is assessed through examination at the end of the period of study.

Year 1

Microeconomics

  • The fundamental problem of Economics
  • Price determination in a competitive market
  • Production, revenue and costs
  • Market failure and government intervention

Microeconomics

  • Measurement of macroeconomic performance
  • Circular flow of income
  • Financial markets and monetary policy
  • Globalisation and international trade

Year 2

Microeconomics

  • Individual Economic decision making
  • Imperfect and monopolistic markets
  • The labour marketing
  • Poverty and inequality

Microeconomics

  • Economic performance
  • Government failure
  • Fiscal policy
  • Exchange rate systems and growth and development

Exam papers (Year 2)

  • Paper 1 – Markets and market failure
  • Paper 2 – National and international Economy
  • Paper 3 – Economic principles and issues

Trips and Enrichment

There are trips to the Crown Court, Parliament and the Old Bailey during the course of the A Level.

University Courses and Careers

Economics provides an excellent background knowledge for any student wanting to move onto a career related to public policy or finance.

 

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