Floreat Schola Cryptiensis
Y12
Economics (Pearson Edexcel)
Economics A Level POS 2024/2025
Students studying Economics develop rich knowledge of economic theory whilst reading and learning about current affairs, economic models and policy. Students utilise their skills in an applied context, which develops a love for learning through problem solving and achieving a wealth of transferable skills such as analytical skills and numerical stamina. The discipline promotes critical thinking and evaluative skills that enables our Economists to flourish, achieving outstanding, influential posts within School and society. Economics knowledge is the gatekeeper to a life of success in finance, Management, Economics analysis and accounting amongst many other influential professions.
Term 1
Theme 1
1 Introduction to economics
2 Understanding of theorists (John M Keynes, Frederick Hayek, Karl Marx, Adam Smith)
3 Productive potential
- PPF
4 Supply and demand
5 Elasticities (PED, PES, YED, XED)
Term 2
Theme 1
1 Application of the supply and demand model
2 Functions of price mechanism
3 Rational and irrational behaviour
4 Functions of money
5 Externalities
6 Types of market failure
7 Private and social costs and benefits to society of economic decisions and government intervention.
Theme 2 Introduction to Macroeconomics
Assessment
1 - topics 1,2,3
Multiple choice and short questions
2 - topics 1,2,3,4,5
Multiple choice and data response.
3
End Points
1 To understand the nature of economics
2 To be able to explain economic potential
3 To understand shifts and shapes of supply and demand curves
1 - full past paper. Topics: 1,2,3,4,5,6,7,8,9,10.
2 - full past paper. Topics: 1,2,3,4,5,6,7,8,9,10.
3
1 To be able to analyse the impact of external shocks on markets
2 To analyse the impact on society of markets
3 To understand why markets and government intervention can lead to poor allocation of resources.
Term 3
Theme 2
1 Introduction to macroeconomic variables and objectives
2 Economic growth, inflation, unemployment.
3 Balance of payments and patterns of international trade
4 Introduction of the aggregate supply and aggregate demand model
5 C, I, G, X and M
6 Circular flow of income and wealth
Term 4
Theme 2
1 Government objectives.
2 Government discretionary policy in order to influence the economy - demand side and supply side (Fiscal/ Monetary and Supply side policies)
3 Conflicts between policies
Term 5
Exam practice and revision Themes 1 and 2.
1. Fiscal policy
2. Monetary policy
3. Supply side policy Revision Theme 1 and 2 for mock exams
Term 6
Theme 3
Introduction to microeconomics at A2 level. Competition, market structure.
Research task on the UK’s economy and a less developed country of the students’ choice – in order to develop skills to succeed at A Level by improving their use of context.
1 Mock composed of papers 1 and 2. Including only topics learnt up to this point. 1 Past papers Theme 2 2 Mixed paper Theme 1 and 2 3
1 To consolidate how markets work and fail
2 To understand the macroeconomic variables, how are they calculated and their importance
1 To be able to assess the impact on markets and the economy of the changeable economic environment
1 Mock composed of papers 1 and 2.
1 To be able to interpret economic policy and fully analyse and evaluate impact
2 To be effective at micro and macro analysis of a set of data.
1 Week 4 summative assessment to include topics from all of themes 1 and 2.
To understand shifts of supply and demand, To understand the concept of market failure and government failure. To be able to create and analyse and macroecono mic model. To understand and critically evaluate economic policy
Y13
Economics
Theme 3 1 Introduction to
2 Business economics.
3 Growth of businesses and their objectives.
4 Costs and revenues
5 Types of profit
1 Perfect competition
2 Contestability
3 Monopolistic Competition
1 Oligopoly
2 Game theory
3 Monopoly
4 Monopsony
Theme 4 1 Macroeconomics at an international level.
2 Fiscal,monetary and supply side policy.
3 Public sector finance Taxation and public expenditure
4 Globalisation
Assessment 1 Multiple choice and 20 mark Q: globalisation.
2 - mixed paper 1 and
2 (theme 1,2)
3
End Points
Theme 3
1 Specialisation of trade
2 Terms of Trade,
3 Trading blocs and monetary unions
4 WTO
5 Protectionism - tariffs, quotas, non tariff barriers.
6 Exchange rates
1 Mock exam half paper 1 half paper 2.
1 International
2 Competitiveness
3 Inequality - Gini coeffient, Lorenz curve
4 Poverty
5 Redistribution of income and wealth
1 Efficiencyallocative, productive, dynamic, technical.
2 Government intervention to promote competition and protect consumers.
3 Labour market and wage determination
● Revision themes 1,2,3,4
● Exam practice
● Research to consolidate contextual understanding
A levels begin
End Points
Theme 4
1 To understand the motives driving firms to grow or remain small
2 To be able to draw and interpret cost and revenue curves
1 To understand the interconnectedness of markets and globalisation
2 To understand trade specialisation and comparative advantage.
1 To understand the assumptions for highly competitive models and be able to draw their short run and long run equilibrium
2 To be able to use the appropriate diagram for the context.
1 To evaluate the impact of protectionism
1 short questions and multiple choice topics
1,2,3,4,5,6,7,8,9,10,11
2 Essays topics
1,2,3,4,5,6,7,8,9,10,11
3
1 To understand the long term and short term equilibrium for all markets and the levels of efficiency
2 To understand the purpose of competition policy
1 To understand factors that affect international competitiveness.
2 To evaluate impacts and causes of inequality
1 Measures of development
2 Factors influencing growth and development
3 Measure to improve development
4 Financial Markets
5 Central banks and regulation
1- mock exam all themes Paper 3
2 - synoptic essays, all themes 1 - paper 3
1 To achieve a holistic understanding of global economics with in depth knowledge of micro and macro economic theories and models.
1 To confidently analyse and evaluate macro and micro economic information using contextual understanding
2 To be able to synoptically analyse data
1 To understand financial markets and
2 To know how the 2008 financial crash shaped our world economy.
To be able to confidently understand economic data and context using economic modelling and theories. To have a bank of factual information to enable students to compare and contrast information.
To have a broad understandin g of the UK and global economy. To be able to interpret macro and microeconom ic information