Economics (A Level)
Making Sense of the Financial World.
Head of Department: Mrs K McNae
We see Economics as an insight into how human societies function, and more importantly a way of thinking. It is far more than a dry study of statistics on abstract concepts such as GDP and Trade Deficits. From the very biggest issues that affect us all like Climate Change, to the reasons popcorn at the cinema is priced as it is, economics is everywhere.
Since Economics has been running at Gumley House we have experienced the Brexit Referendum, numerous General Elections and a once in a century pandemic. Economics never stands still and is always topical - nevermore than today. Whether students go on to related study or work, or different fields entirely, we aim for all our students to have a better understanding of the world and the ability to ask the right questions.
CURRICULUM DOCUMENTS (Economics)
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Introduction to Economics: |
Edexcel: A Level Specification
At Key Stage 5, students will first encounter Economics in Year 12, and there are no requirements in terms of previous subjects studied. Economics is both a logical and analytical subject that requires you to communicate and apply concepts to situations. It is for these reasons that students must have both good English and Maths skills.
We follow the Edexcel exam board. At A Level the subject is split into two halves; Microeconomics and Macroeconomics. Microeconomics is the study of individual people and specific industries and goods. How do people make choices? What is Supply & Demand? How much should we tax cigarettes? Macroeconomics looks at the Economy as a whole. What is a recession? How do we reduce unemployment? What should the Government response to the Coronavirus pandemic be?
The course is assessed 100% by three exams at the end of Year 13. One Microeconomics, one Macroeconomics and a Synoptic exam which brings everything together.
Along the way there will be plenty of essays, discussion and debate.
HEAR FROM THE STUDENTS:
STUDYING Economics AT A LEVEL
Why study this course?
Economics is a traditional subject which is relevant to the world you live in and to your future. It is a fascinating subject because it includes the study of how people behave and interact with each other. The dynamic relationship between consumers, firms and government makes economics a vibrant subject that can lead to careers in large companies, banking
and finance, media, law, marketing, government, journalism and teaching.
What will I learn?
By studying Economics, you will develop skills in research, analysis and evaluation, communication and working with others to solve problems using economic theory and models. You will look at the fundamental forces which affect our lives, such as employment, prices, international trade and poverty. Economics is a lively and interesting subject which
allows you the opportunity to make your own judgements and form your own opinions.
How will I be taught?
You will be taught through a combination of discussion and debate, research, modelling of scenarios to explore current economic behaviour, data response questions, case studies, group activities and visits to and by industry.
How many hours a week private study will I have?
As an A Level student you must spend at least six hours doing private study per week to consolidate your learning and learn how to apply subject knowledge to different contexts.
You’ll enjoy this course if…
Economics is the study of how people deploy resources to meet human needs. Economists are interested in incentives and prices, earnings and employment, investments and trade among many things. If you are interested in why some countries
are richer than others, whether being in the EU is a good idea or how to tackle poverty, then Economics is for you.
Course Description
Economics studies how people allocate scarce resources. The reason people have to make choices is scarcity, the fact that we don’t have enough resources to satisfy all our wants. The course is divided into two parts:
1. Microeconomics studies the behaviour of individual people and individual firms.
2. Macroeconomics studies national economies, concentrating on economic growth and how to prevent recessions and encourage economic growth.
Assessment
Paper 1: Markets and Market Failure
External written examination (33.3% of A Level)
Paper 2: National and International Economy
External written examination (33.3% of A Level)
Paper 3: Economic Principles and Issues
External written examination (33.3% of A Level)
Where can Economics take me?
Our students regularly go on to study Economics at University, as well as related courses like Politics, Philosophy and Economics (PPE) and Business & Finance. A Level Economics can be seen as a good grounding for studying Law due to its need to communicate complex situations clearly. Increasingly Science students take Economics to improve their communication skills and make them more rounded academically. Economics graduates are amongst the best paid, in careers ranging from Finance, Management Consultancy, Education, and the Civil Service.
CAREERS AND LABOUR MARKET INFORMATION:
Please see below for careers and labour market information for Economics - use the refresh buttons to find out about different courses and careers, and use the left and right arrows to view more detailed information: