Economics

EXAM BOARD: EDEXCEL

Entry requirements:

Grades of 6 or above at GCSE in Maths and English/History.

Head of department:

Victoria Gibson

Economics looks at the question of how to allocate resources optimally both from an individual’s point of view (Microeconomics) and also from the perspective of society as a whole (Macroeconomics). At its root lie moral questions about how we want to live our lives both as individuals and as a social unit. Based upon a number of assumptions on these issues Economics builds a conceptual structure that allows us to explain how resources are allocated in the world today. Once you understand this conceptual structure you can then use it as a framework to assess the limitations of how society works and explore ways to improve it.

Economics is not all about money! The study of economics helps you to understand various aspects of finance but Economics is primarily about choice, scarcity, opportunity and the impact of decision making on our lives. You may be asked to think about questions as diverse as “Why do we have a sugar tax and is it fair?”, “Should those who are unemployed receive benefits?” and “Will the UK be better off outside of the EU?” Economics offers a way of thinking about the world that enables us to make the best of what we have both as individuals and as society as a whole.

In order to be able to enjoy studying Economics you need to be able to construct logical arguments from many different perspectives. Whilst the Maths component of the specification is not onerous you will need to be fluent with interpreting data in graphical form and with the concepts of ratio, percentage and index numbers. Classroom discussions will be based on a wider reading list that you will need to go through independently.

This is a challenging two-year linear course that is examined synoptically at the end. It gives you the opportunity to gain a deeper understanding of the subject whilst developing your study skills to prepare you for university life. Consequently it has a higher UCAS tariff than the modular A-level courses that are currently offered by the various exam boards.

Assessment

The 2-year linear course has 3 papers

Paper 1: Markets and business behaviour

• multiple choice (20) and data response (60) • 35% of final grade

Paper 2: The national and global economy

• multiple choice (20) and data response (60) • 35% of final grade

Paper 3: Microeconomics and macroeconomics

• two data responses (50 and 50) • 30% of final grade