Economics
Economics is an important part of the world around us. It affects everything from how much we pay for goods and services to how much employees get paid.
An introduction to A-level Economics
A brief overview from our A-level teachers.
What does it involve?
Economics is more relevant that ever; austerity, bankers’ bonuses, house price increases and fears over BREXIT and COVID are just five topics rarely out of the news in recent years that all relate to this subject. Taking this subject will provide students with a complete understanding of the economy which helps to develop an understanding of current affairs and world events.
The subject is split into two main sections; microeconomics and macroeconomics. Macroeconomics looks at the big issues affecting the economy as a whole including unemployment, inflation, growth, exchange rates and so on. This section also considers the performance of different countries around the world, and the range of issues affecting both emerging and developed economies.
Microeconomics on the other hand looks at individuals, businesses and markets; the pricing of individual products like oil or gold, the salaries paid to different people, and the introduction of policies such as the sugar tax.
How is it assessed?
Economics is assessed through three 2-hour examinations. Paper 1 assesses microeconomic theory, Paper 2 macroeconomic theory, and Paper 3 is a synoptic paper that covers everything. Each paper contains a mixture of multiple choice, short and longer style questions which are based on case study information.
What skills and qualification do I need?
Students must be interested in the world we live in, be happy taking part in discussions and debates, and be willing to share and justify their own point of view. A solid grasp of mathematics is essential, as is the ability to structure a strong written answer.
University and employment prospects?
Most students who study Economics will go on to University to study a related-degree such as Economics, Finance and Banking, Global Development, Business Economics or Politics, Philosophy and Economics (PPE). A-level Economics will help students to develop a wide range of transferable skills, which are sought after by industries and employers. Career options are wide ranging, but can include Stockbroker, Statistician, Government Advisor, Civil Servant, Risk Analyst, Quantity Surveyor and others.