Economics

What is A-Level Economics?

A-Level Economics introduces students to the fundamental principles that underpin how individuals, firms, and governments make choices in a world of scarce resources.

The study of Economics gives students the opportunity to learn about the mechanisms that drive economies and affect our daily lives. Students will study two main areas: microeconomics and macroeconomics. Microeconomics focuses on how individuals and firms make decisions and how markets operate. We tackle important questions such as how to address income and wealth inequality in the UK, how can governments intervene to correct market failures such as pollution and is privatisation of certain industries preferable to nationalisation?

Meanwhile, macroeconomics examines broader economic factors such as inflation, unemployment, economic growth, and international trade. Throughout the course, students will weigh up the need for intervention in markets and the wider economy and the consequences of this. Through the study of various theories and diagrammatic models, A-Level Economics equips students with the skills to apply their knowledge to important topical issues which brings the subject to life and gives them a deeper understanding of the world around them.

What Will You Study on A-Level Economics?

The Economics A-Level course is divided into two key areas: microeconomics and macroeconomics, with both themes explored in depth across the two years of study.

Microeconomics - Individuals, firms, markets and market failure
• The economic problem and economic methodology
• Individual economic decision making
• Price determination in a competitive market
• Production, costs and revenue
• Perfect competition, imperfectly competitive markets and monopoly
• The labour market
• The distribution of income and wealth: poverty and inequality
• The market mechanism, market failure and government intervention in markets

Macroeconomics - The national and international economy
• The measurement of macroeconomic performance
• How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
• Economic performance e.g. inflation, unemployment, economic growth
• Financial markets and monetary policy
• Fiscal policy and supply-side policies
• The international economy (Globalisation, Economic Development, Trade, Balance of Payments, Exchange Rates)

This content will be examined at the end of Y13 through three papers which are equally weighted.
• Paper 1: Markets and Market Failure (2 hours)
• Paper 2: National and International Economy (2 hours)
• Paper 3: Economics Principles and Issues (2 hours)

What Next After Completing A-Level Economics?

After completing A-Level Economics, many students continue their studies at university, often progressing to roles as economists in sectors such as banking, consultancy, and governmental organisations. Economics graduates are in demand for their analytical skills and understanding of economic frameworks.

The skills acquired through the A-Level Economics course also prepare students well for the workplace, with some students opting for apprenticeships in fields like accountancy or project management at prominent companies including BAE Systems. Several students have secured degree apprenticeships at leading firms in the finance and consulting sectors such as Deloitte.

What is the Exam Board for A-Level Economics?

The AQA (Assessment and Qualifications Alliance) is the designated exam board for the A-Level Economics course. They are responsible for setting the syllabus and conducting the assessments to ensure students meet the educational standards required in economics.

What are the Entry Requirements for A-Level Economics?

To enrol in the A-Level Economics programme, students must have achieved at least five GCSEs graded 5 or above, with a minimum of grade 6 in both Maths and English Language. This ensures that students have the necessary analytical and language skills required for the course.

For those who may not meet these specific grades, or who wish to combine different fields of study, we offer a Mixed Programme. This lets students pursue A-Levels in conjunction with BTEC qualifications, providing a flexible path that accommodates a range of interests and strengths.

What Enrichment is on offer in this subject?

Students have opportunities to engage in several extra-curricular activities relating to Economics. For example, students have enjoyed sessions from guest speakers from institutions such as the Bank of England and have participated in an online finance course delivered by Lancaster University. In previous years, the wider department has run trips to destinations such as New York, where students have visited Wall Street. Students are encouraged to enter national economics competitions such as The Young Economist of the Year and the IEA Budget Challenge. Several students choose to undertake an EPQ (Extended Project Qualification) relating to Economics to further explore their interests beyond the A-Level curriculum.

What other subjects go well with this subject?

A-Level Economics complements a variety of different subjects due to the quantitative and qualitative aspects of the course. If you are considering pursuing Economics at university, it is recommended to take A-Level Mathematics as this is a requirement for many Economics degree courses. For the most selective universities, Further Mathematics A-Level may also be desirable. Economics can also work well alongside Science courses given the analytical nature of the course. Essay based humanities subjects such as History and Politics are also complementary as they support the critical thinking and essay writing skills developed in Economics.

Back to All Courses