On a fundamental level, Economics is the academic study of how people choose to use resources. Yet truly, Economics bridges the gap between the theorical and the “real-world”, introducing students to ideas and concepts we often witness playing out before our very eyes. Ranging from analysis of the Governments’ “greener policies” and their impact on the Economic Welfare of the entire UK, to the specific impact on the labour force within certain previously industrialised areas of the UK, students will come to understand the interconnectivity of all economic decisions from the top down and the bottom up.
Major economic events such as the credit crunch, international trade deals, global warming, sustainable development and inequality are all hot topics at present, where students discover how economics can be applied to find solutions to global problems. Indeed, recent economic crises have challenged governments and expert economists in ways that have led to the development of new language, from quantitative easing to furlough schemes.
Furthermore, Economics is changing. The theories explored in this subject have been turned on their head and the challenge this subject brings to students is that of being able to comprehend original economic theory, yet appreciate how economics has adapted to deal with not one, but two, history-changing events: Brexit and the Covid-19 pandemic.
What can I expect?
The skills you will gain from studying Economics include the ability to both create and interpret complex diagrams, representative of both micro-economic (single industry) and macro-economic (monetary and fiscal policy) issues, as well as evaluating the impact of key economics policies we see implemented by government.
You will learn to analyse key contemporary social issues, such as the closing of Ratcliffe-on-Soar’s Coal power station, through both traditional and behavioural economic theory, while responding to these issues in both quantitative and qualitative form.
Economics holds a unique footing in the academic world as it traverses the space between the Social Sciences and Academic Essay writing, and the rationality and quantitative responses of Maths and Statistics. As such, Economics enables the continued development of both numeracy and rationality, as well as written analytical and evaluative skills
Which Stem Pathways can I follow?
You will be assessed at the end of the course through three 2 hour written examinations, all of which include extended periods of writing. Paper 1 relates to Markets and Market Failure (Micro-economics), Paper 2 relates to the National and International Economy, while Paper 3 covers both areas through a wider context of Economic issues and principles.
Paper 1: Markets and Market Failure —33.3% of A Level—Questions:
Paper 2: National and International Economy—33.3% of A Level—Questions:
Paper 3: Economic Principles and Issues—2 hour written exam—33.3% of A Level—Questions:
Our general entry requirements are that you need 5 Grade 6s in your GCSEs to study A Levels.
Economics provides valuable preparation for university and any job involving evaluation and judgement, as well as numeracy and statistical analysis.