A Level: Economics

Course title: Advanced GCE in Economics

Exam board: Edexcel

Subject specific entry criteria: You do not need to have studied Economics at GCSE to study the subject at A Level. However, you will need to have achieved a Grade 7 in English or Mathematics.

Course overview

Our A Level Economics course is structured around the Edexcel A specification, providing a robust and comprehensive understanding of how economies work. The course is designed to develop your skills as a critical and analytical thinker, exploring the real-world economic issues that shape all our lives.

The A Level is built around four key themes, taught over two years:

  • Theme 1: Introduction to Markets and Market Failure
    You will explore the fundamental economic problem of scarcity and how the price mechanism allocates resources in a market economy. We also investigate why markets can fail to produce the best outcomes for society, examining issues such as environmental pollution and the under-provision of merit goods, and the role of government intervention.
  • Theme 2: The UK Economy – Performance and Policies
    This theme focuses on the national economy. You will learn how key indicators like GDP, inflation, and unemployment are used to measure economic performance. We analyse the causes and consequences of changes in these indicators and critically evaluate the use of government fiscal, monetary and supply-side policies to manage the UK economy.
  • Theme 3: Business Behaviour and the Labour Market
    Here, we delve into the economics of business. You will study the objectives and decisions of firms, competition between businesses, and how different market structures affect prices and consumer choice. This theme also includes a detailed study of the labour market, including factors that determine wages and employment levels.
  • Theme 4: A Global Perspective
    This theme broadens your understanding to the international stage. You will analyse the impacts of globalisation, international trade, and exchange rates. We also explore the complex challenges of economic development and poverty in different parts of the world, and the role of the financial sector in the global economy.

 

Assessment overview

The A Level is assessed entirely through three written examinations at the end of the second year. There is no coursework component.

Paper 1: Markets and Business Behaviour (35%)

  • A 2-hour exam assessing the microeconomic content from Themes 1 and 3

Paper 2: The National and Global Economy (35%)

  • A 2-hour exam assessing the macroeconomic content from Themes 2 and 4

Paper 3: Microeconomics and Macroeconomics (30%)

  • A 2-hour synoptic paper that requires you to apply knowledge from all four themes to solve complex economic problems using real-world data.

 

Future progression

A Level Economics is a highly respected qualification that develops analytical, quantitative, and evaluative skills valued by leading universities and employers.

We place a strong emphasis on preparing students for higher education, recognising the diverse range of courses available.

While strong mathematical ability is a key advantage and a requirement for some competitive Economics degrees (typically a Bachelor of Science, or BSc), it is not essential for all pathways. Many excellent universities offer Economics as a Bachelor of Arts (BA) degree, which focuses more on political economy and qualitative analysis. These courses are still highly rigorous, often requiring a Grade 6 or 7 in GCSE Maths, and we will support you in finding and applying for the course that best fits your strengths and ambitions.

Potential careers

The ability to analyse complex data and make informed judgements opens doors to a vast range of rewarding careers. These include opportunities in:

  • Finance: Investment banking, financial analysis, stockbroking, insurance, accountancy
  • Consultancy: Management consultancy, economic consultancy
  • Government: The Civil Service (including the Government Economic Service), the Treasury, the Bank of England
  • Data Analysis: Actuarial science, data science, market research analysis
  • International Development: Working for charities, think tanks and NGOs

 

How to succeed in Economics

To excel in Economics, you should be curious about the world and ready to engage with current affairs.

  • Stay Informed: Regularly read and watch quality news to see economic theory playing out in the real world.
  • Develop Analytical Skills: Get comfortable interpreting graphs, charts, and data to support your arguments.
  • Think Like an Economist: Learn to weigh up the pros and cons of an issue, consider the short-term and long-term consequences, and evaluate different perspectives before reaching a well-justified conclusion.
  • Master the Language: Use economic terminology correctly and precisely in your written work.
  • Practice Exam Questions: Regularly applying your knowledge to past paper questions is the most effective way to refine your exam technique.

 

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