Economics
The Economics course covers the behaviour and success (or failure!) of firms within a market, how the government influences the economy and the UK economy within the context of the EU, possible styles of withdrawal from the EU and within a changing world economy.
Future Prospects
Economics is a highly regarded A level in which you will learn to interpret data, explain statistics, question assumptions and understand and explain both the behaviour of individual firms and issues applicable to the whole economy such as exchange rates, interest rates, the budget deficit, the tax system etc. Economics is directly applicable to jobs in business, finance, law, journalism, accounting etc.
Synopsis of A level
Unit 1 Markets and market failure
There will be a two hour paper on individual firms and markets based on recent data.
Why does a 3 bedroom house that cost £18 000 in 1972 now cost £600 000? Why does BP make over £350 profit per minute whereas British Energy (nuclear) relies on state subsidies? Why does a premiership footballer earn 50 times the salary of a nurse? Why has the Aral sea disappeared?
Unit 2 The national and international economy
There will be a two hour paper on the macro economy based on recent data. Why will the UK government spend £43 billion on debt interest this year? Why do the poorest 50% of the world’s population earn just 5% of the world’s income? Why will a fall in the sterling exchange rate make Cadbury’s chocolate more expensive in the UK but cheaper in France? How did China become the world’s second largest economy with 40% of the world market for socks and 80% of the world DVD player market? Should Greece leave the Euro? Should Britain make a clean break with the EU or should we remain in the single market? What is the likely economic impact of restricting migration on the UK economy?
Unit 3 Economic principles and issues
There will be 30 multiple choice questions testing theoretical understanding and a business decision based question based on recent data.
Economics students will have the chance to take part in Economics Conferences in London where previously speakers have included Vince Cable, John Redwood, the chief UK economist at Nomura Bank, Tim Harford, author of the Undercover Economist, Ed Balls, Alistair Darling and Douglas Carswell. They will also take part in debates and competitions including the prestigious Bank of England’s 2.0 competition.
