Economics is the study of how groups of individuals make decisions about the allocation of resources.
Important decisions include…
›What should be produced?
›How should it be produced?
›Who should receive what is produced?
Watch this clip to find out about some of the introductory concepts!
Microeconomics involves studying markets and firms. It would be a really good idea to read news stories relating to the business world before starting to study the course. The BBC News website Business page is a good place to start and to keep up with daily stories about businesses and firms.
Macroeconomics involves studying the national economy and the global economy. It would very beneficial to read news stories relating to economic growth, unemployment, inflation and trade. The BBC News website Economy page is a good place to start and to keep up-to-date on a daily basis.
Head Start in A Level Economics is the new, free online transition resource to introduce Year 11 students to the A Level Economics course. Work your way through each new topic as it is added here.
Typically we begin the course by looking at topics from Theme 1 (you can see this in the specification document, linked from the Basic Info page). Initial topics will include:
examining the difference between free market and command economies
finding out what markets are
demand curves and what affects demand in various markets
supply curves and what affects supply in various markets
The best ways to prepare are to use the 'Crash Course' and 'Head Start' resources above.
A Level Economics requires a good level of numerical skill and we will frequently use graphs and numerical data to help us understand and explain the world. Economics students also need to be able to perform a number of calculations. You are strongly advised to continue to study GCSE mathematics topics to ensure you are confident on averages, ratios, fractions, percentages, percentage change, correlation and the construction and use of graphs.
A Level Economics requires a good level of literacy and we will frequently read news articles and other written sources throughout the course. Economics students also need to be able to write in a clear and accurate manner. You are strongly advised to continue to study GCSE English language topics to ensure you are confident on correct use of paragraphs, punctuation and other aspects of grammar. You should read regularly (choose news sources and non-fiction texts such as those suggested on the Further Reading page) to improve your reading ability and to increase your exposure to formal writing and relevant vocabulary.
See the Further Reading page for reading recommendations
Get organised by ordering your stationary:
o A4 lined book/notepad for keeping notes in order
o Some loose A4 lined paper
o Files/Folders
o Calculator
o Pens (a few different colours), pencils, ruler
See the Useful Websites page where you can find links for further reading and research
You do not need to print off your news stories yet - please collect a list of hyperlinks, either on your phone/device notes, or in a Google doc or similar. We may print some in Sept when we use them
Please read the following articles/sources to discover more about a minimum unit price for alcohol. This policy currently exists in Scotland and Wales, but should a minimum price be introduced in England too?
1. https://www.bbc.co.uk/news/uk-scotland-57293223
2. https://www.bbc.co.uk/news/uk-scotland-57501432
3. https://www.bbc.co.uk/news/uk-wales-51674263
4. https://www.bbc.co.uk/news/uk-wales-51633450
5. https://gov.wales/sites/default/files/consultations/2019-02/summary-of-responses_0.pdf
6. https://www.bbc.co.uk/news/av/uk-wales-51641996
Prepare a presentation or notes to help you to argue either for or against introduction of a minimum unit price for alcohol in England during our lesson.