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Economics

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“To Change the World you need to understand it, to understand it you need Economics”

Email the Department: economicsdepartment@uptonhigh.co.uk

Staff:   Miss A Mclean (Subject Leader)

             Mrs S Larkin

What is Economics?

Economics is about choice and the impact our choices have on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The economic way of thinking can help us make better choices.

There is rarely a right or wrong answer in Economics, it is up to you to argue your point of view.

It is therefore a subject which develops analysis and critical thinking skills and the ability to coherently use theory to evaluate competing arguments.

Where will A-level Economics take you?

Economics is a great starting point for those looking for a career in finance, business or politics. However, it is also useful for a range of careers including marketing, law, journalism or teaching.

Possible degree options according to bestcourse4me.com, the top eight degree courses taken by students who have an A-level in Economics are:

  • Economics
  • Business/Management
  • Politics
  • Accounting
  • PPE
  • Mathematics
  • Finance
  • Law

Alternatively, you may decide to follow a career path which isn’t directly related to economics.  But the analytical and evaluation skills that you develop are highly desirable and will be useful whatever path you choose in the future.

A-Level Economics (Edexcel)

http://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html

The course is split into 4 Themes covering a variety of Microeconomic and Macroeconomic concepts.

Microeconomic

  • Theme 1 Introduction to markets and market failure (Year 1)
  • Theme 3 Business behaviour and the labour market (Year 2)

Economics is a social science and is essentially all about scarcity and choice, helping to provide answers to how consumers, producers and governments make difficult choices over how much to consume and how to allocate resources fairly and efficiently to gain maximum benefit for all.

Macroeconomic

  • Theme 2 The UK economy (Year 1)
  • Theme 4 A Global Perspective (Year 2)

As well as finding out how consumers and firms make choices, you will also learn more about the economic factors affecting national and global decisions such as BREXIT. 

Economics is a highly regarded academic subject and is relevant to a wide range of careers and further study such as law, finance, management and even medicine.  It works well in combination with any other subject and will appeal to any student who is interested in current affairs and the world around them.

Assessment structure

A Level Economics is assessed with three examinations, each lasting two hours.

The papers include multiple choice, calculation questions, short answer and extended answer questions in response to data.

          Paper 1: Markets and business behaviour (35% of the A-level)

  • Themes 1 and 3

    Paper 2: The national and global economy (35% of the A-level)

  • Themes 2 and 4

    Paper 3: Microeconomics and Macroeconomics (30% of the A-level)

  • Themes 1, 2, 3 and 4

Requirements

No specific prior knowledge is assumed, but an appetite for current affairs is essential as the examinations are based on the economic phenomena reported every day in the media.

The subject also requires numerical aptitude and the ability to consider an argument carefully and clearly, so pupils must have attained at least a Grade 5  in both GCSE Mathematics and English (individual decisions will be made on a case by case basis)

Economics is an attitude of mind, a technique of thinking which helps its possessor to draw the right conclusions” John Maynard Keynes