Advanced Subsidiary/Advanced Level
To develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life. Students will be able to explain, analyse and evaluate the strengths and weaknesses of the Market Economy and the role of government within it. The new specification also includes modern economics including behavioural decision making and analysis of the financial crisis of 2008.
- An interest in the business world / current affairs
- An ability to organise ideas into a coherent argument
- An ability to find and use multiple sources of research material
- A commitment to hard work
- Personal organisational skills
- A minimum of grade B in Mathematics and English at GCSE
The new two year linear A Level includes micro economics and macro economics applied to the modern global economy. In Year 12 students will learn about Markets and Market Failure & The National Economy. In Year 13 students will learn about Individuals, firms, markets and market failure & The national and international economy.
Students will still be entered for AS Economics in Summer 2017 however under the new A Level system this will have no bearing on their final A Level grade which will be entirely based on their final 3 A Level papers in Summer 2018. The course is delivered using a wide variety of current materials, including newspaper, magazine, TV and web-based content.
Assessment at the end of year 12 – AS Economics
Paper 1: Markets and Market failure, 1 hour 30 minutes, 70 marks. Section A – 20 marks, 20 objective test questions (multiple choice). Section B – 50 marks, complete one from a choice of two data response questions.
Paper 2: The National and International Economy, 1 hour 30 minutes, 70 marks. Section A – 20 marks, 20 objective test questions, Section B – 50 marks, data response.
Assessment at the end of year 13 – A Level Economics
Paper 1 Markets and market failure, 2 hours, 80 marks, Section A – Data response 40 marks, Section B – Essay question 40 marks.
Paper 2 The National and International economy, 2 hours, 80 marks, Section A – Data response 40 marks, Section B – Essay question 40 marks.
Paper 3 synoptic, economic principles and issues, 2 hours, 80 marks, Section A – 30 marks, 30 objective test questions, Section B, Investigation – Data response 50 marks.
This website is useful for Revision notes:
This website is useful for researching economics data:
Recommended text books, revision guides and reference books
Text book year 12:
AQA A-level Economics Book 1 Paperback – 24 Apr 2015
Text book year 13
AQA A-level Economics Book 2 Paperback – 26 Feb 2016
Revision Guide – 12 and 13 CGP Economics, ISBN 978-1782943471
A level Combinations
Students often combine Economics with Mathematics and another Social Sciences or Humanities option, such as Politics, Law, Sociology, Geography or History. It is also an excellent option to combine Economics with Business Studies or Sciences.
Career and Higher Education Opportunities
An excellent option for students wishing to study Economics or any Business-related course at a higher level. An A level in Economics is well regarded and an advantage for anyone seeking a career in the business world.
Subject: GCSE Economics
Specification Code: 8136
QAN Code: 603/0126/0
General Statement about the Subject
Economics is the study of consumers, businesses and government and the workings of the whole global economy. It includes key areas of study such as how prices are determined, business revenues, costs and profits, the role of the government to influence consumers and businesses and the wider management of the economy in terms of taxation, benefits, interest rates and trade. The course is based on using real world examples to explain economic issues and analysing the possible outcomes of different government policies in the current economy. Students will need to be able to use their mathematical ability to analyse data, to spot trends and suggest reasons for relationships. Due to the data analysis and practical mathematical applications used within the subject students must have strong ability in Maths. (Students who are judged to be on track for a GCSE grade 6 or above).
Areas of Study
Micro Economics: markets, market failure and government intervention. Macro Economics: the management of the economy and the impacts of globalisation and international trade.
Economics will teach students to become analytical thinkers, to base conclusions on data and to explain the implications of government actions. Independent reading and research skills will be developed as well as discussion and presentation skills. Practical applications of mathematics will be used for example interpreting graphical information and using percentage changes.
You will probably enjoy this course if you are interested in current affairs, the workings of society, the
government and the world around you. You must be a logical thinker and have strong maths skills that will be used in a practical setting.
What students say
Current Year 10 and 11 students have commented that as it is relevant to their lives now and in the future. It helps them understand the world we live in and means they are better informed to make important life decisions.
Exam assessment only. Two equally weighted exam papers, both 1 hour 45 minutes with a mixture of multiple choice questions, calculations and both short and long written questions based on industry examples.
Progression to Post 16 Studies/Training/Careers
Economics gives an understanding of the wider business environment therefore will be useful in any future employment. The GCSE gives a good grounding from which to continue on with A Level Economics or alternatively A Level Business Studies. The analytical approach to writing is a good foundation for any essay based A Level subject.
Recommended text books, revision guides and reference books
‘Economics GCSE 9-1 by Bancroft, Riches and Miles-Kingston, published by Hodder
OR ‘Economics IGCSE 0-1’ by Ellis, published by Anforme