Economics has the advantage of being suitable for combining with both arts and science subjects. It can be studied by somebody wishing to prepare for an Economics/Business based course at university or by somebody who simply wishes to know more about the world around them.
Apart from the minimum requirements for entry into the Sixth Form there are no special requirements for Economics. However, anybody wishing to pursue this subject to degree level would benefit from A level Maths. A competence in the use of English is also a distinct advantage. Our exam board is Edexcel. (www.edexcel.org.uk/quals/gce/economics)
Like all A levels the Economics course is in two parts, AS and A2.
AS - studied in the Lower sixth.
Unit 1 Markets - How They Work
This introductory unit deals with the basic principles of Supply and Demand and elementary market theory.
Unit 2 Markets – Why They Fail
This unit deals with some of the problems that occur in the market system such as pollution, monopoly and the necessity of state provision of certain public services such as NHS and education.
Unit 3 Managing the economy
This unit moves on to the performance of the economy as a whole, macro economics. This involves things such as inflation, unemployment, economic growth and the balance of payments. Interest rates and taxation as means of controlling the economy are also introduced in this unit.
A2 - Studied in the Upper sixth
Unit 4 Industrial Economics
This unit deals the operation of firms and the ways in which they compete. It also covers privatisation and govt competition policy.
Unit 5 The Labour Market
This unit deals with wage determination and income distribution. Govt policy to combat poverty is also dealt with here.
Unit 6 The UK in the global Economy
This is the synoptic unit which draws together many of the topics started in earlier units. It concentrates on international economics looking at globalisation, trade, the EU, exchange rates and the balance of payments.
