Economics

Overview

Economics enables students to use economic models to understand the complexities of the world, using data to analyse markets and economies, and understand how governments try and influence both.

By providing students with theoretical ideas that can be applied to topical areas of interest, like employment, trade policy and inflation, the intention is to build a critical understanding of the UK economy.

Economics requires some ability in interpreting statistical data, graphs, and diagrams, with more subtle interpretation needed as the course develops. The first year involves studying the principles that underpin economic thinking and developing a ‘toolkit’ of economic ideas.

Simple applications of mathematics are used and you will be assessed on those in the examinations. If you think you may want to study a pure Economics degree at university, you should be aware that most degree courses require A Level Mathematics. A Level Economics combines well with a range of courses including Mathematics, Politics, Geography, History and the STEM subjects.

For further information or to discuss in more detail, please contact:

Mr W Bohanna Head of Economics wbohanna@kgs.org.uk

Follow us on Twitter: @KGS_Economics

How is the course assessed?

The first year of the course covers an introduction to both Microeconomics and Macroeconomics. Within microeconomics topics such as the nature of economics, the functions of the market, market failure and government intervention are explored, discussed, and examined. Within macroeconomics, an analysis of the UK economy is undertaken, exploring topics such as measures of economic performance, economic growth, and economic policy. During the second year of the course more in depth explorations into both microeconomics and macroeconomics. From a global perspective, topics such as free trade, poverty and economic development are examined. An analysis of business behaviour, market structures, competition policy and the labour market are studied as part of the further microeconomics element. This is a two year A Level course. The course is assessed entirely by a final examination of four themes.

Paper One – Markets & Business Behaviour. The paper assesses themes 1 & 3 of the A Level specification. and accounts for 35% of the total A Level grade.

Paper Two – The National & Global Economy. The paper assesses themes 2 & 4 of the A Level specification and accounts for 35% of the total A Level grade.

Paper Three – Microeconomics & Macroeconomics. The paper assesses themes 1 to 4 of the A Level specification and accounts for 30% of the total A Level grade.

Examination board

Edexcel

Useful attributes

To follow the Economics course, you would be expected to meet the general requirements for A Level coursing. In addition, because the subject is largely based on developing certain numerical skills and requires higher level writing skills a grade 7 or higher at (I)GCSE Mathematics and English Language are required.

Personal development

You will develop a range of academic skills and attributes. By the end of the course, you will be able to question underlying assumptions, be able to understand the function of a society from different stakeholders’ perspectives and be able to evaluate and present a balance argument; you will learn how to use evidence, draw conclusions, and make judgements. In addition, you will be able to apply numerical analysis and applications to evidence driven decision making which can assist you in a variety of academic studies and professions.

Future directions

Economics at KGS has a longstanding history of excellent results. In addition, Economics, and economics related courses including Business, Business Management, Accounting and Finance have been extremely popular undergraduate courses for KGS Sixth Form students. The department regularly supports students winning entry into some of the world’s most prestigious universities including, Cambridge, Oxford, UCL, MIT, Princeton, and Brown to read Economics, Business and Accounting related courses.