Economics

Level 3 Pathway - In order to enrol onto our Level 3 courses, students must have achieved a minimum of 5 grade 4s at GCSE Level across 4 different subject areas; this should ideally include a Grade 4 for English Language and Mathematics.

It is important that students also pay attention to any individual subject entry requirements.

It may be that a small number of students are recommended to sit AS qualifications at the end of Year 12 in order to inform decisions about progression into Year 13, however these AS examinations are standalone and do not contribute to the overall A Level qualification.

Why?

A level Economics uses logical thinking and detailed analyses to understand the way the domestic and global economies function. It is a way of thinking that is recognised and highly regarded by both universities and employers. As well as leading onto Economics degrees, this course is also a useful supporting subject for people wishing to study degrees such as Mathematics, Business, Politics, History and Geography. Students who have studied Economics have gone on to many different careers including accountancy, banking, management, politics and marketing.

Course Structure

Theme 1: Introduction to markets and market failure, covering:

• The nature of economics
• How markets work
• Market failure
• Government intervention

Theme 2: The UK economy – performance and policies, covering:

• Measures of economic performance
• Aggregate demand
• Aggregate supply
• National income
• Economic growth
• Macroeconomic objectives and policy

Theme 3: The UK economy – business behaviour and the labour market, covering:

• Business growth
• Business objectives
• Revenues costs and profits
• Market structures
• The labour market
• Government intervention

Theme 4: The global perspective, covering:

• International economics
• Poverty and inequality
• Emerging and developing economies
• The financial sector
• Role of the state in the macroeconomy

Assessment

Paper 1 – Markets and business behaviour: 2 hours (35% of the qualification). This paper assesses Theme 1 and Theme 3 content.

Paper 2 – The national and global economy: 2 hours (35% of the qualification). This paper assesses Theme 2 and Theme 4 content.

Paper 3 – Microeconomics and macroeconomics: 2 hours (30% of the qualification). This paper assesses content from all themes.

Extended Learning

Tasks will include case studies, research activities and exam practice questions. In addition, students will be expected to read the news, either online or from a quality newspaper.

Level 3 Sixth Form entry requirements. It is also recommended that students ideally have Grade 6 GCSE Mathematics