ECONOMICS

A Level AQA Economics 7135/7136

Economics is a ‘social science’ that examines the behaviours of individuals and their interaction with firms and the external 

environment - local and global economies.

The course will examine the rules, concepts and theories that are the key drivers, and questions why things happen within an 

economy and their impact.

Economics requires logical thinking, an interest in current affairs and the ability to analyse key concepts, discuss economic themes

and be self-directed in terms of research and evidence collection. Having good data handling skill is beneficial.

It is important students know why decisions are being made by governments and world leaders to kick-start growth within the

economy is important.  

Understanding the policies and support packages that have been set up for individuals, and industry are explored. This will enrich

your understanding,

initially of basic theories linked to scarcity of resources, supply and demand, inequality and poverty, financial systems and market

failure, amongst others.

This will make your learning experience more dynamic, applicable and transferable to the real world.

THE COURSE

Over the course of two years you will study a range of topics across both:

Micro Economics - Microeconomics focuses on issues that affect individuals and companies.

Macro Economics - Macroeconomics focuses on issues that affect nations and the world economy.

Year 12 Subject Content

The operation of markets and market failure.

1.      Economic methodology and the economic problem.

2.      Price determination in a competitive market.

3.      Production costs and revenue.

4.      Competitive and concentrated markets.

5.      The market mechanism, market failure and government intervention in markets.

The national economy in a global context

6.      The measurement of macroeconomic performance.

7.      How the macroeconomy works: the circular flow of income, AD/AS analysis

and related concepts.

8.      Economic performance.

9.      Macroeconomic policy.

Year 13 Subject content

Individual firms, markets and market failure.

1.      Economic methodology and the economic problem.

2.      Individual economic decision making.

3.      Price determination in a competitive market.

4.      Production costs and revenue.

5.      Perfect competition, imperfectly competitive markets and monopoly.

6.      Labour markets.

7.      The distribution of income and wealth: poverty and inequality.

8.      The market mechanism, market failure and government intervention in markets.

The national and international economy.

9.      The measurement of macroeconomic performance.

10.  How the macroeconomy works: the circular flow of income, AD/AS analysis and

related concepts.

11.  Economic performance.

12.  Financial market and monetary policy.

13.  Fiscal policy and supply-side policies.

14.  The international economy.

EXTRA CURRICULAR ACTIVITIES

Economics students are encouraged to develop their awareness and wider economic skills alongside their core teaching.  We have guest speakers that have

provided insights into key economic and business themes, and it is hoped that extra-curricular trips to the Bank of England can be undertaken.

Students have also been encouraged to sign-up for online conferences, webinars and attend virtual seminars to support learning.

Students have an excellent awareness about the economy and how this impacts on local and global businesses and communities.  Students are encouraged and

supported to seek outside experiences and link up with organisations and local businesses. This can be engaging with local and national firms to highlight the

current economic climate, and understand strategies used for survival and growth.