COURSE FACTSHEET
Advanced Level Foundation — Economics module Who is this course for?
Recognised by widest choice of quality universities
The Kings Advanced Level Foundation is based on A-level syllabuses, taught by A-level teachers, assessed against A-levels and moderated by an independent Advisory Board of external examiners. As such, it is one of the most highly academic and successful pathways to leading UK universities.
Kings does not work with a narrow range of university partners. This is because our Advanced Level Foundation is based on, and linked to, A-levels. It is therefore automatically recognised and accepted by the widest choice of universities. Out of the Top 25 universities listed in the Times and Sunday Times 2019 rankings, 20 have accepted Kings Foundation students.
Pearson assured
Benchmarking against A-Level grades
Key Facts
The Kings Advanced Level Foundation has Pearson assured status, awarded after an annual Pearson audit of quality assurance.
Typical top 30 university offers to students following the Programme are based on their normal A-level offers. The Programme is benchmarked against A-level grades as follows:
Start dates: 7 January, 8 April*, 1 July*, 9 September 2019; 6 January, 6 April*, 29 June*, 7 September 2020 (*Extended version) Locations offered: Oxford
London
Bournemouth Brighton
Level: Minimum IELTS 5.5 (standard version); IELTS 4.0 (extended version). Completed 11 – 12 years of schooling. Minimum age: 17 Length: 1 Academic Year (3 terms). Or Extended Advanced Level Foundation of 4 – 7 terms (including 3-term Advanced Level Foundation) Lessons: Average 21 hours per week (plus homework and private study) Class size: 8 – 12 Learning outcomes: à Raise academic qualifications to UK university entrance level à Raise English to university level à Develop learning and self study skills for degree level
Advisory Panel Standards for the Programme are set by an external and independent Advisory Board which meets three times each year to ensure best practice, moderate marks where required and hear appeals.
Assessment Paper
Weighting
Term 1 Assessment
30%
Term 2 Assessment
35%
Term 3 Assessment
35%
Typical A-level offer
Typical Kings Foundation offer
A*A*A*
80%
AAA
75%
AAB
70%
ABB
65%
BBB
60%
CCC
50%
Extended option Students with lower language levels can join an extended programme of 4 – 7 terms (including the 3-term Advanced Level Foundation), from IELTS 4.0. It offers practical content designed to provide a bridge into UK academic life. The main focus is developing suitable language proficiency for the Advanced level Foundation with concentrated IELTS lessons, but as the course is made up of English language classes and some 1:1 or small group study, it has the flexibility to also provide bespoke academic study skills and subject enrichment. The course can also include a Maths GCSE if required.
Advanced Level Foundation
Sept
Jun
Apr
Jan
Sept
Jun
Apr
Jan
Sept
Jun
Pathways
Vacation
Advanced Level Foundation IELTS 4.0
Extended Foundation IELTS 5.0 IELTS 4.5
Extended Foundation Extended Foundation
Top 20 university Top 20 university
Vacation
Advanced Level Foundation
Vacation
Top 20 university
Vacation
Advanced Level Foundation
Vacation
Top 20 university
Advanced Level Foundation
Vacation
Top 20 university
COURSE FACTSHEET
Course structure and content The programme is highly flexible, and able to adapt to the needs and academic aspirations of each student. It does this through a combination of core modules and a series of elective modules which can be combined in different ways to create main subject streams: Main subject streams à Business à Engineering à Life Sciences and Pharmacy à A rchitecture à Media and Communications à Humanities and Social Sciences à Mathematics, Computing and Science
Core modules are: à Communication and Study Skills à Data Handling and Information Technology Elective modules are: à A rt and Design à Biology à Business Studies à Chemistry
à Economics à History à Human Geography à Law à Mathematics à Media à Physics à Psychology à Politics and Government
2018 – 19 Sample academic timeline September
October
November
December
January
February
September starters
10 Sept: term starts Student induction
20 – 28 Oct: half term
University fairs/visits
14 Dec: term ends CSS Assessment 1 (Written) End of term exams
7 Jan: term starts
14 – 17 Feb: half term CSS Assessment 2 (Presentation) University fairs/visits
January starters
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—
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—
7 Jan: term starts Student induction
14 – 17 Feb: half term University fairs/visits
March
April
May
June
July
August
September starters
22 Mar: term ends Assignments* End of term exams
8 April: term starts Assignments*
Assignments*
14 June: term ends CSS Assessment 3 (Listening and Reading exam)
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—
January starters
22 Mar: term ends Assignments* CSS Assessment 1 (Written) End of term exams
8 April: term starts Assignments*
Assignments*
17 – 18 June: 2 day break CSS Assessment 2 (Presentation)
CSS Assessment 3 (Listening and Reading exam)
2 Aug: term ends
*students spend two weeks on each assignment and do three in total — one for each of their ‘elective’ modules. Please note that specific dates are subject to change.
Economics module structure and content
Term 1 à Introduction to microeconomics à The economic problem à Opportunity cost and production possibility frontiers
à Positive and normative statements à Factors of production à Economic systems à Economic agents and their objectives à The market à Demand and supply curves à Movements and shifts in demand and supply curves à Consumer and producer surplus à Price determination and equilibrium price à Price, income and cross elasticities of demand à Price elasticity of supply à Economic, productive and allocative efficiency à Internal and external economies of scale à Specialisation, the division of labour and exchange à Total, fixed, variable, average and marginal costs
à Market failure à Types of market failure: externalities, merit and demerit goods, public goods, information failure à Government intervention to correct market failure à Types of government intervention: regulation, taxes, subsidies, state provision, price controls à Government failure Term 2 à Introduction to macroeconomics à Economic growth – short- and long-run, costs and benefits à Economic cycles à Real and nominal GDP, and GDP per capita à Unemployment: measurements, causes and consequences Continued overleaf æ
1233 07/15
Learning outcomes On successful completion of the Economics module, students should: à have a factual knowledge of the principles of economics at micro-, macro- and international levels à understand the tools of economic analysis and the problems to which these tools may be applied à understand economics as a discipline in its own right and be aware of its links to related subjects à be familiar with common sources of economics data and accustomed to using the principal reference sources.
COURSE FACTSHEET
Economics module structure and content continued à Inflation, deflation, disinflation and hyperinflation: measurements, causes and consequences à Recent trends in key UK macroeconomic performance indicators compared to other countries à The circular flow of income model à The multiplier à A ggregate demand: its components, its relationship with the price level, the determinants of the components of AD, causes of shifts in the AD curve à A ggregate supply: causes of shifts in the short run and long run à The AD/AS model and diagrams à Macroeconomic equilibrium: how changes in AD and AS affect macroeconomic performance à Fiscal policy à The government budget, and budget surpluses and deficits à Progressive, proportional, regressive, direct and indirect taxes à Budget deficits and the national debt à Discretionary fiscal policy and its effectiveness à Monetary policy: instruments and measures à Interest rates, money supply, quantitative easing, exchange rate
à How monetary policy instruments and measures affect macroeconomic performance à The role of central banks à The effectiveness of monetary policy at achieving macroeconomic objectives à Supply-side policies à Types of supply-side policies: education and training, tax and welfare reforms, more flexible labour markets, privatisation, deregulation, trade union reform, infrastructure investment à The effectiveness of supply-side measures in achieving macroeconomic policy objectives à Policy conflicts and trade-offs à The balance of payments and its components à The current account on the balance of payments, and its components à Causes and consequences of imbalances on the current account of the balance of payments Term 3 à Trade and integration à Absolute and comparative advantage à Specialisation and gains from trade à Terms of trade à The pattern of global trade à Exchange rate systems
à Purchasing power parity à Exchange rate fluctuations à Stages of economic integration (free trade areas, customs unions, single markets, economic unions, monetary unions) à Short-run and long-run impact of economic integration à Development and sustainability à Measuring development à Growth and development à H DI à Policies to promote economic development – the role of the market and the state à Constraints on development à The meaning and measurement of sustainability à National and regional policies and international agreements to promote sustainability à The economics of globalisation à The characteristics and consequences of globalisation à International financial flows à The nature and impact of MNCs and FDI à The role and impact of the WTO, IMF and World Bank à International trade negotiations and trade disputes
Continued overleaf æ
COURSE FACTSHEET
Recommended reading
Sample enrichment activities
Below is a list of text books normally used on this course. In many cases the textbooks will be supplied by the school, and you may borrow them for the duration of your time at school. However, if you already know what three subjects you want to choose you may prefer to purchase one before you arrive.
à BMW factory visit à Business Enterprise à Bank of England visit à Coca Cola factory tour
àA QA A- level Economics Book 1, Authors-Ray Powell and James Powell àA QA A -level Economics Book 2, Authors- Ray Powell and James Powell
Alumni who took the Economics module Below is a selection of degree courses some of our most recent alumni have gone on to study: Student name
Advanced Level Foundation Modules
University
Course name
Alexandr Filipov
Economics/Human Geography/Mathematics/CSS/Data
Loughborough University
Management Sciences
Min Fu
Economics/Human Geography/Mathematics/CSS/Data
Lancaster University
Business Studies
Aleskandar Kesic
Economics/Geography/Mathematics/CSS/Data
University of Warwick
Economics
Ju Yeon Kim
Economics/Business/Mathematics/CSS/Data
University of Leeds
Accounting and Finance
Alina Kurmanbayeva
Economics/Government and Law/Business Studies/CSS/Data
SOAS
Politics and Economics
Sungmin Lim
Economics/Geography/Mathematics/CSS/Data
University of Loughborough
International Business
Klea Mitri
Economics/Geography/Government and Politics/CSS/Data
University of Nottingham
Finance, Accounting and Management
Asset Omirzhanov
Economics/Geography/Government and Politics/CSS/Data
University of St. Andrews
Economics – International Relations
Zhidan Tan
Economics/Geography/Mathematics/CSS/Data
University of Surrey
Accounting and Finance
Valeriia Tylis
Economics/Geography/Mathematicss/CSS/Data
University of Birmingham
Business Management with Marketing
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Aleksandar Kesic, now studying Economics at the University of Warwick
1800 08/18
The Foundation helped me with some subjects, especially Economics as I didn’t study that before. It provided me with some good basic, and really useful, knowledge. Computer and data analysis is also a good module as I got experience working with computers and sorting out data, which is useful for university life. The communications skills part was also helpful as we learned how to write an essay properly — how to structure it and reference it.