Mr A Grant (Head of Department)
- To develop pupils’ knowledge and understanding of economic concepts and theories through a critical consideration of current issues, problems and institutions that affect everyday life.
- To develop students’ familiarity with the methods of economic enquiry and the economist’s way of thinking, hence providing knowledge, understanding and skills which will be of value in adult life.
The A Level course is divided into two units at AS and two at A2. All assessment is by examination.
Unit 1: AS 1 Markets and Market Failure (50%)
In this unit, students explore the nature of the basic economic problem and the role of markets and prices in resolving this problem. The unit outlines how and why markets fail and why the government may intervene. It also highlights why government intervention may sometimes be counter-productive.
Unit 2: AS 2 Managing the National Economy (50%)
This unit aims to introduce students to macro-economic issues in the domestic context of the United Kingdom economy. Students will analyse change in the economy using the basic aggregate demand-side and supply-side policies to achieve macroeconomic objectives.
Unit 3: A2 1 Business Economics (50%)
The aim of this unit is for students to examine in depth the decision- making processes of firms in the short term and long term. It explores various market models and their usefulness in explaining market behaviour. Students will examine the number and size of businesses, and the level of contestability – considering how firms grow by investigating organic growth, mergers and takeovers
Unit 4: A2 2 Managing the Economy in a Global World (50%)
The aim of this unit is to deepen and extend understanding of policy issues examined in AS 2. It includes trade barriers and participation in international organisations and agreements. Issues arising from the UK leaving the EU (Brexit) are investigated and the problems that arise from increasing globalization are examined. Students will investigate the significance of globalisation, international trade, the balance of payments and exchange rates
There are many careers’ options open to students studying Economics both at school and university. These include effectively any career in finance, business, accountancy, stock markets, human resources, management and politics – as well as actually working as an economist.