ECONOMIC S

Economics can be defined as the science of scarcity - a study of how we allocate scarce resources in a world of infinite wants Put simply, it aims to answer Who gets what, and why? The Economics A level provides a framework to analyse the problem of scarcity in our society The UK is currently experiencing record inflation, rising interest rates, labour shortages, and a cost-of-living crisis In Economics we ask questions, we look at opposing arguments and, through informed discussion, we learn to agree and disagree

What is the course content?

The subject is split into two branches and asks some of the following questions:

Microeconomics – concerned with individual markets and small aspects of the economy

° What determines the price of education in a boarding school?

° What strategies can be put in place to combat climate change?

° What happens when natural minerals and ores such as oil, zinc, copper, and aluminium start to run out?

° Why do famous footballers earn more money than doctors?

Macroeconomics – concerned with the whole aggregate economy Issues such as inflation, economic growth, and trade

° What will be the consequences of high inflation?

° What will be the consequences of higher interest rates?

° W ill the benefits of Brexit outweigh the costs?

° Should the government focus on economic growth or protecting the poorest?

How is the course assessed?

The Economics A level is a linear course - assessment includes three exams taken at the end of two years of study There is no requirement to complete coursework It is a topical subject - the questions asked in the final year of your course are likely to be based on the economic events that occur in the first year of your course - having an interest in current affairs is vital

What else should I consider?

Economics A level provides an excellent foundation for those interested in studying Economics, Finance or Management at university The skills are transferable across a broad range of subjects and careers

Pre-course material

There is a wide range of Economics Literature available in the School Library ‘Economics the User Guide’ by Ha Joon-Chang and ‘How Markets Work’ are both accessible texts