| Overview | The A-Level Economics Course requires students to develop an understanding of economic concepts and theories through critical consideration of current economic issues, problems and instructions that affect everyday life; to analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it; and to develop a critical approach to economic models and methods of enquiry. |
| Examination board | The Sixth Form Economics course at Queen Elizabeth’s follows the Edexcel examination board specification. Full details of the specification and additional support materials can be accessed here. |
Unit 1 - Competitive Markets Examination to be taken in January of Year 12 | This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. Students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness. |
Unit 2 - Managing the Economy Examination to be taken in June of Year 12 | This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success. |
Unit 3 - Business Economics & Economic Efficiency Examination to be taken in January of Year 13 | This unit develops the content of Unit 1 and examines how the pricing and nature of competition between firms is affected by the number and size of market participants. Students should be able to analyse the pricing and output decisions of firms in different contexts. They should also be capable of making an appraisal of government intervention aimed at promoting competitive markets. |
Unit 4 - The Global Economy Examination to be taken in June of Year 13 | This unit develops the knowledge and skills gained in Unit 2 so that they can be applied in a global context. The application, analysis and evaluation of economic models is required as well as an ability to assess policies which might be used to deal with economic problems. An awareness of trends and developments in the global economy over the last 10 years is required. |
| Course support & enrichment at QE | AS and A2 level teaching is undertaken by two specialist teachers each sharing a set. There is a programme of visits to relevant institutions and conferences to support the course and a European study trip in the summer term of Year 12. Students can opt to take part in various competitions on offer to them such as Shares4Schools, the IFS Essay Competition and the Bank of England’s Target 2.0. |
| Progression from A-level Economics | The A-Level Economics qualification should enable students to progress to a straight economics degree with a focus on theory, or a degree in applied economics such as environmental, labour, public sector or monetary economics. Students may opt for a business economics or mathematical economics degree or a joint degree with another subject such as politics, philosophy, or history. Students should note that many of these courses also require A-Level Maths. Graduates are likely to find employment in Accountancy, Finance, Banking, Insurance or Management Consultancy or as Professional Economists. |
Recommended wider reading This is particularly relevant for those considering further study beyond A-level | - Naked Economics – Undressing the Dismal Science- Charles Wheelan, WW Norton & Co
- The Undercover Economist – Tim Harford, Little & Brown
- AS/A-Level Economics Essential Word Dictionary – John Hearn, Philip Allan Updates
- The business and economics pages of a quality newspaper such as The Daily Telegraph, The Times or The Sunday Times.
Useful websites: |