Economics AS & A Level
A Level Economics encompasses subjects associated with economics including the market system, market failure and government intervention, the national and international economy, economics of work and leisure, the UK economy and economics in a European context in order to give you the broadest knowledge possible.
As well as being equipped to handle modern life with a broad knowledge of economics, there are a number of university choices and career options where having A Level Economics is preferable or, in some cases, absolutely necessary. Having this qualification shows you have the ability to analyse and understand economic subjects, as well as sound financial knowledge and essay-writing skills.
Entry requirements
A minimum of 4 subjects at grade 5 or above at GCSE plus English Language at grade 5 or above. You should also have a grade 5 in Maths and a grade 5 in either English Language, English Literature or a Humanities subject.
What will I study?
Year One subject content:
The Operation of Markets and Market Failure
- Economic methodology and the economic problem
- Price determination in a competitive market
- Production, costs and revenue
- Competitive and concentrated markets
- The market mechanism, market failure and government intervention in markets
The National Economy in a Global Context
- The measurement of macroeconomic performance
- How the macroeconomy works: the circular flow of income, AD/AS analysis, and related concepts
- Economic performance
- Macroeconomic policy
Year Two subject content:
Individuals, Firms, Markets and Market Failure
- Economic methodology and the economic problem
- 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
Method of delivery
You will typically be in College four days per week. Your studies will be mainly classroom based but you will also experience some experiential learning. Your studies will have a combination of 30% online learning and 70% face-to-face on site, with 90% classroom based and 10% undertaking independent or simulated experiential learning or practical activities. Our methods of delivery will include to large groups of students online, accompanied by workshops, tutorials, some independent studies, problem solving and work-based learning, developing strong independent learning skills to equip you for your next steps.
How will I be assessed?
Year One
Two written exam papers of 1 hour 30 minutes duration each, involving multi-choice questions and written response, including essay questions.
Year Two
Three papers of 2 hours each, involving multi-choice, data response and essay questions.
Good course combinations
Economics combines well with A Level Business, Accounting, the Level 3 Certificate/Diploma in Financial Studies, Maths and any of the Social Sciences.
Your next steps
The course will prepare you for higher education economics courses or can form a component of a joint degree with a wide range of other subjects, or lead to higher apprenticeships. Possible careers could include working in financial markets, business management and corporate law.
“Economics has allowed me to form a new perspective of daily life and national issues, with the trips we go on allowing me to make clear links between my economics knowledge and the real world.”
