Economics
Course Content
Examinations are a mixture of multiple choice, short-answer and data response questions and essays.
Paper 1: Markets and business behaviour (35% of A Level), 2 hours, 100 marks Tests Themes 1 and 3.
Paper 2: The national and global economy (35% of A Level), 2 hours, 100 marks Tests Themes 2 and 4.
Paper 3: Microeconomics and macroeconomics (30% of A Level), 2 hours, 100 marks Tests all four Themes.
Theme 1: Introduction to markets and market failure
This theme focuses on microeconomic concepts. Students will develop an understanding of:
β’ The nature of economics
β’ How markets work
β’ Market failure
β’ Government intervention
Theme 2: The UK economy β performance and policies
This theme focuses on macroeconomic concepts. Students will develop an understanding of:
β’ Measures of economic performance
β’ Aggregate demand and supply
β’ National income and economic growth
β’ Macroeconomic objectives and policy
Theme 3: Business behaviour and the labour market
This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics:
β’ Business objectives and growth
β’ Revenues, costs and profits
β’ Market structures
β’ Labour market