Economics

EDEXCEL : A LEVEL ECONOMICS

INTRODUCTION

Economics tries to answer many everyday questions:

Why do you have to pay tuition fees for university? Why did Apple launch their own music streaming service? Why do footballers earn more then firefighters? Will the Conservative government’s benefit reforms succeed in getting people back to work? Why is Singapore more economically developed than Nigeria? Basic economic concepts can be used to analyse a wide range of issues and it is vital that the student has an interest in current UK and world economic issues.

WHAT WILL I LEARN?

 In Theme 1, you will learn about how markets work and what happens when they do not work so well In Theme 2, you will learn about how the economy works in booms and recessions In Theme 3, you will learn how businesses compete and set prices, how the job market works and how competition can be encouraged  In Theme 4, you will learn about globalisation and international trade, how economies develop, financial markets and the public finances.

A LEVEL ASSESSMENT PAPER ASSESSMENT DURATION WEIGHTING

Paper 1: Markets and Business Behaviour Written exam: multiple choice, short answer questions, data response and extended open - response 2 hours Paper 1 will assess from Themes 1 and 3 35%

Paper 2: The National and Global Economy Written exam: multiple choice, short answer questions, data response and extended open - response 2 hours Paper 2 will assess from themes 2 and 4 35%

Paper 3: Microeconomics and Macroeconomics Data response including an extended open - response question 2 hours Paper 3 will assess across all 4 themes 30%

WHAT SKILLS WILL I DEVELOP?

Economics enhances:  Numeracy - understanding economics requires a reasonable level of numeracy to interpret data and graphs

Analytical skills - a good economist will analyse economic data, interpret graphs and tables, identify trends and explain these using economic theory Communication - good economists will be able to think logically and to write good quality English Independent research - the ability to discuss and give opinions on current UK and international news stories.

LOOKING FURTHER AHEAD

Careers in finance are the most common destination for those who go on to study an Economics related degree, which maybe the reason that Economics is the second most highly paid graduate subject. However, Economics is a highly respected course that fits well with many other subjects and can lead to a wide variety of careers in business, government, education or the charitable sector.