Economics
Examination Board | AQA
Specification Code | 7136
Subject Content
Economics is a popular A-Level subject and involves the study of how individuals, firms and governments make economic decisions and how markets and economic systems operate. Topics studied include demand and supply in markets such as housing, oil, transport and healthcare, the minimum wage, inflation, taxation and exchange rates. In Year 12, students will cover a variety of macroeconomic and microeconomic topics including markets and the price mechanism, market failure, national economic management and government policy. In Year 13, students explore further microeconomic concepts through an investigation of traditional theories of the firm and competition policy. They will also explore international economics through studying the global economy, development and trade.
Assessment Details
The course is assessed through three two-hour terminal exams which will involve essay-writing, case study questions, mathematical calculations, and diagrammatic analysis.
To be successful, students will need to be able to:
- Students of economics make frequent use of diagrams, data and models to help them examine theoretical concepts and topical issues. Due to the varied nature of the subject, lessons are varied and, over the course, will at times involve debates, essay-writing, reading case studies, direct teacher instruction, mathematical exercises, visual demonstrations and practical activities. Private study outside the classroom will involve practising homework exercises, content revision, textbook reading and keeping up-to-date with current affairs.
What can I do to support my child at home?
Share your real-world experiences in business. Ask what topic they are studying and possibly demonstrate how you or your workplace applies it. This will really help them to contextualise.
Encourage them to watch the news, read business blogs and discuss current economic and business topics.
Websites
- Tutor2U
- https://www.youtube.com/crash course economics
- https://www.economicshelp.org/
- https://aqa.org.uk/subjects/economics
Books
- The Economics Book Hardcover – 3 Sept. 2012 by Niall Kishtainy (Editor)
- Economics for Beginners (For Beginners): 1 Hardcover – 4 Feb. 2020 by Andrew Prentice (Author), Lara Bryan (Author)
- How Economics Works: The Concepts Visually Explained (DK How Stuff Works) Hardcover – 6 Jun. 2024 by DK (Author)
- AQA A-level Economics Fifth Edition Paperback – 26 May 2023 by James Powell (Author), Ray Powell (Author), David Horner (Author), Steve Stoddard (Author)
Teaching Staff Contact Details
Head of Business
Mr Wright - cwright@cottesloe.bucks.sch.uk
Teacher of Business
Mrs D'Souza - sdsouza@cottesloe.bucks.sch.uk
Economics Curriculum Intent and Ethos
Intent
The curriculum intent for Economics A-Level is to provide students with a comprehensive understanding of the fundamental principles of economics, enabling them to analyse and interpret economic phenomena in the real world. The course aims to develop students' critical thinking and problem-solving skills, prepare them for further study in economics or related fields and for informed participation in economic discussions and decision-making.
Key objectives of the Economics A-Level curriculum include:
- Understanding economic concepts and theories: Students should gain a thorough understanding of core economic concepts such as supply and demand, market structures, economic growth, inflation, and unemployment. They should also be able to apply economic theories to explain real-world economic events and policies.
- Developing analytical and evaluative skills: Students should develop the ability to analyze economic data, interpret economic models, and evaluate economic arguments. They should be able to identify strengths and weaknesses in economic reasoning and draw informed conclusions from economic evidence.
- Applying economic knowledge to real-world issues: Students should be able to apply their economic knowledge to contemporary economic issues such as globalisation, inequality, environmental sustainability, and government intervention in markets. They should be able to formulate informed opinions on these issues and communicate their views effectively.
- Preparing for further study and careers: The Economics A-Level curriculum provides a solid foundation for further study in economics, business, finance, and related fields. It also equips students with transferable skills such as critical thinking, problem-solving, and communication, which are valuable in a wide range of careers.
Ethos
The curriculum intent for Economics A level is to provide students with a deep understanding of the principles of economics and how they apply to the real world. Students will learn about the different economic systems, how markets work, and the role of government in the economy. They will also learn about a range of economic issues, such as poverty, inequality, and economic growth.
The curriculum is designed to help students develop the following skills:
- Critical thinking: Students will be able to analyse economic data and arguments, and to form their own informed opinions.
- Problem-solving: Students will be able to apply economic concepts to solve real-world problems.
- Communication: Students will be able to communicate their understanding of economic concepts and issues clearly and effectively.
Careers in Economics
An A-Level in Economics can open doors to a wide range of exciting careers. Graduates with an economics background are highly sought after by employers in various sectors, including:
- Finance: Investment banking, asset management, financial analysis, risk management
- Consulting: Management consulting, economic consulting, strategy consulting
- Government: Economic policy, public administration, international development
- International Organisations: World Bank, International Monetary Fund, United Nations
- Academia: University teaching and research
- Business: Corporate finance, marketing, operations research