Economics​

Exam Board

Pearson Edexcel               ECONOMICS

 

Description

Economics, they say, makes the world go round. Few decisions are taken that are not influenced to some degree by economics. This thought-provoking course offers the opportunity to learn about the latest economic theories and practice in the context of different economic issues both nationally and internationally. The course allows us to explore the fundamental forces which affect our lives, such as employment, prices, international trade and poverty. 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 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 – 2 hours     (35%)

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 – 2 hours     (35%)

Comprises 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 – 2 hours     (30%)

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.