Board: AQA
Syllabus: AS Level (1141), A Level (2141)
About the subject
The syllabus focuses on the key concepts of modern economics. The subject itself is concerned with the allocation of scarce resources – our ‘wants’ are infinite, but we can provide for only a small number of them. How do we decide what to produce and how to produce it?
At AS level students will use concepts like demand and supply to learn how the majority of individual markets work (from money markets to housing markets, clothing and food). We also study what happens when the system fails; would everyone pay for education if they had to? Unit 2 looks at macroeconomics – the functioning of the whole economy. Students should gain insight into the debate on spending cuts and the age of austerity, for example.
The second year begins with business economics – how firms behave in different competitive environments – and the distribution of income; is inequality fair? Do people get what they deserve? Unit 4 develops the macroeconomics covered at AS and introduces an international context incorporating globalisation and the EU (including the Eurozone crisis).
The subject is studied within the context of contemporary life. Economic issues are current and dynamic and concepts are covered in a way that reflects this.
Learning styles
Learning includes a number of approaches, including; teacher led discussion and current debates, classroom experiments and research tasks involving the college VLE.
An interest in current affairs is assumed and students will be encouraged to debate and discuss topical economic issues.
Homework is set regularly each week.
It is assumed that students have a basic level of numeracy and that they are literate.
Subject Combinations and Progression
Economics can usefully be combined with any other academic subject. Sound combination subjects include Maths, History, Social Sciences, Politics, Law and any of the sciences and social sciences.
Subject Modules and Assessment
AS Level
Unit 1 Markets and Market Failure
1hr 15 mins multiple choice and data response. (50% of AS, 25% A level)
Unit 2 The National Economy
1hr 15 mins data response. (50% of AS, 25% of A level)
A2 Level
Unit 3 Business Economics and the Distribution of Income
2hrs data response and essay (25% of A level)
Unit 4 The National and International Economy
2hrs data response and essay (25% of A level)
Entry requirements
C in Maths and C in English Language