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Economics A-Level is the study of scarcity, and concerns the allocation of society’s scarce resources amongst their many competing uses; it looks at the way the world works. One of the best things to help you succeed on this course is keep in touch with the news as we can apply economic theory to absolutely everything! It will really help you to bring your economics to life!
The course is split into two main parts, microeconomics, and macroeconomics, and you will study both in each year.
In first-year microeconomics, we study the basic economic problem, how markets work to allocate scarce resources, and what happens when markets don’t work efficiently or fairly. This is called market failure, and there are many different types, such as environmental market failures.
We then look at types of government intervention that can be used to fix market failures. In the second year we delve deeper into business economics, labour markets, inequalities in the distribution of income and wealth and poverty.
In macroeconomics, we study how the economy works, different measures of economic performance, such as economic growth, unemployment and inflation, and the different policies governments use to maintain economic stability and deal with economic shocks. In the second year we look at the costs and benefits of economic growth and consider how we measure standard of living. In addition, we study international trade, globalisation and development economics.
Economics is a highly versatile subject that could provide many different career pathways. Many students decide to study the subject at university, and from there go on to work as economists in various fields such as with the Bank of England, the CBI, accountancy firms, in economic ‘think-tanks’, for example, the Institute of Fiscal Studies, in charitable organisations, in multinational corporations, or in government departments.
Economics A-Level students are also very well-prepared for the workplace, with many taking up apprenticeship schemes, such as in accountancy or project management in firms such as BAE Systems and Rolls Royce.
At least five 5s at GCSE, including at least a 6 in Maths and English Language.
Have you considered studying a Mixed Programme (A-Levels and BTECs)? Whether you’re on target to achieve five 5s in your GCSEs or not, there may still be an option to study A-Levels alongside a BTEC qualification at Newman.