Economics

Exam Board: Pearson/Edexcel

Economics, they say, makes the world go round. Few decisions are taken that are not influenced to some degree by economics. The Economics course offers the opportunity to learn about the latest economic theories and practice them in the context of different economic issues both nationally and internationally. It also allows us to explore the fundamental forces that affect our lives, such as employment, prices, inflation, international trade and many more. Economists are often in healthy debate with each other over these issues. It is this controversy which makes Economics lively and interesting. This course will develop a range of analytical skills which will enable you to progress in a business environment and provides you with an array of subject-specific and transferable skills highly sought after by employers and top universities.

Course Content

Theme 1: Introduction to markets and market failure

● nature of economics

● how markets work

● market failure

● government intervention

Theme 2: The UK economy – performance and policies

● measures of economic performance

● aggregate demand

● aggregate supply

● national income

● economic growth

● macroeconomic objectives and policy.

Theme 3: Business behaviour and the labour market

● business growth

● business objectives

● revenues, costs and profits

● market structures

● labour market

● government intervention

Theme 4: A global perspective

● international economics

● poverty and inequality

● emerging and developing economies

● the financial sector

● role of the state in the macroeconomy

Assessment

Paper 1

Duration: 2 hours

35% Of Grade

Comprises of a range of multiple choice questions, short answer questions, data response and extended open-response questions; all based on Themes 1 & 3.

 

Paper 2

Duration: 2 hours

35% Of Grade

Consists of a range of multiple choice questions, short answer questions, data response and extended open-response questions; all based on Themes 2 & 4.

 

Paper 3

Duration: 2 hours

35% Of Grade

Comprises two sections. Each section comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; students select one from a choice of two and are required to apply their knowledge and understanding, make connections and transfer higher-order skills across all four themes.

Enrichment Opportunities

  • Royal Economic Society – Young Economist of the year competition
  • LSE essay competition
  • Student Investor Challenge
  • Various talks, debates and conferences
  • Bank of England talks and virtual visit
  • Bank of England competitions