Economics (New for 2014/15)

 

The new Economics specification (Edexcel) has two strands. These are the full A Level and the AS Level specifications.

 

The A Level is a two-year course aimed at providing learners with a high level of understanding of many areas of the economy. The units covered are designed to provide students with core knowledge, understanding and skills. In addition to:

 

● Define and assess achievement of the knowledge, skills and understanding that will be needed by students planning to progress to undergraduate study at a UK higher education establishment, particularly (although not only) in the same subject area, for example economics degrees with a focus on theory, or degrees in applied economics such as environmental economics, labour economics, public sector economics or monetary economics.

● Set out a robust and internationally comparable post-16 academic course of study to develop that knowledge, skills and understanding.

● Enable UK universities to accurately identify the level of attainment of students. 

● Provide a basis for school and college accountability measures at age 18.

● Provide a benchmark of academic ability for employers.

 

The AS is a one year course that is made up of two units to be studied and assessed at the end of that year. The aim of the course is to develop students’ abilities in the following areas:

 

● Develop an interest in, and enthusiasm for, the subject.

● Appreciate the contribution of economics to the understanding of the wider economic and social environment.

● Develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts.

● Use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist.

● Understand that economic behaviour can be studied from a range of perspectives.

● Develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.

 

What will I study?

 

AS Units

Theme 1: Introduction to markets and market failure.

Theme 2: The UK economy – performance and policies.

 

A Level Units

Theme 1: Introduction to markets and market failure.

Theme 2: The UK economy – performance and policies.

Theme 3: Business behaviour and the labour market.

Theme 4: A global perspective.

 

How will I be assessed?

 

All units are externally assessed and the two units completed at AS will be assessed at by an external exam at the end of Year 12. The same format is used for the full A Level but there will be four external exams at the end of Year 13. All units in the Economics AS/A Level are awarded a grade A*-E.

 

Entry Requirements

 

Route 1 – Grade B in Mathematics and Grade B in a related subject

Route 2 – Grade B in Mathematics and Grade B in a related subject

Route 3 – Not available

Route 4 – Not available

 

Career Opportunities

 

Studying Economics can lead into many career areas. Some are obvious, others are not. Surprisingly, relatively few Economics students will begin a career as a professional economist directly after graduation – a postgraduate degree is usually required for such posts. Statistics show that the majority of Economics students after graduation obtain employment within six months of graduating. The jobs they get are many and varied, although with an emphasis on the finance sector (including banking, accountancy, tax advice, actuarial work, insurance and trading). Other roles that Economics graduates regularly go into include management; marketing, sales and advertising; human resources; IT and education.