Much time will be spent applying economic concepts. There is regular homework to check understanding. The course will also develop numeracy and communication skills. Students are strongly advised to read around the subject through newspapers and various websites. A Level Economics has regularly achieved 100% pass rate over the last 8 years.
Additional events to support students include: Trip to tutor2u revision conference and end of year trips to Nottingham University and DMU to sample taster sessions of economics in a Higher Education setting. Revision packs provided.
All exams are at the end of two years of study
The economic problem; decision making; elasticity; market equilibrium; production costs and revenue; market structures; contestability; efficiency; labour market; distribution of income; market failure; externalities; government intervention; government failure.
Macroeconomic performance indicators; circular flow of income; aggregate demand/ supply; economic cycle; inflation; unemployment; financial markets and monetary policy; banking; regulation; fiscal, monetary and supply side policies; international trade and exchange rates.
Paper 1: The Operation of Markets and Market Failure (2 hours)
Paper 2: The National and International Economy (2 hours)
Paper 3: Economics Principles and issues (2 hours).
At least 5 relavant GCSEs grades A*/9 - C/4 including English and Maths at grade B/5 and above.
Students find it useful to have a strong background in the basic Principles of Economics before going onto university to study Economics, Accounting and Finance, Business, Management or a Social Science based degree.