Economics
Economics
Studying Economics at A-level can offer valuable skills applicable in various career paths. Economics provides a deep understanding of the economy's functioning, from supply and demand to inflation and government policies. It can help in making informed decisions as a citizen or business owner. Additionally, it is a respected subject in academia and industry, giving access to a wide range of job opportunities. Economic concepts are, of course, also relevant to daily life, such as setting prices and understanding the economy's impact. Therefore, studying Economics can provide students with a comprehensive understanding of the world and essential skills for their future.
Introduction to markets and market failure
Nature of economics
How markets work
Market failure
Government intervention
The UK economy – performance and policies
Measures of economic performance
Aggregate demand
Aggregate supply
National income
Economic growth
Macroeconomic objectives and policy
Business behavior and the labor market
Business growth
Business objectives
Revenues, costs, and profit
Market structures
Labor market
Government intervention
Global perspective
International economics
Poverty and inequality
Emerging and developing economies
The financial sector
Role of the state in the macroeconomy
Paper 1: Markets and Business Behaviour
Questions drawn from Theme 1 and Theme 3
100 marks, 2 hours
35% of qualification
Sections:
Section A: Multiple-choice and short-answer questions
Section B: One data response question
Section C: One extended open response question (choice of one from two)
Paper 2: The National and Global Economy
Questions drawn from Theme 2 and Theme 4
100 marks, 2 hours
35% of qualification
Sections:
Section A: Multiple-choice and short-answer questions
Section B: One data response question
Section C: One extended open response question (choice of one from two)
Paper 3: Microeconomics and Macroeconomics
Questions drawn from all themes
100 marks, 2 hours
30% of qualification
Structure:
Two data response questions broken down into a number of parts, each including one extended open response question (choice of one from two for extended).
If you have any queries about this curriculum, please contact: Mrs Laura Watson, Head of Business and Economics, on lew@farlingtonschool.com