Economics

Course summary

Studying A level Economics will allow students to apply economic theory to support analysis of current economic problems and issues, and encourage students to appreciate the interrelationships between microeconomics and macroeconomics. The A level covers the following 14 topic areas: *Indicates content will be a feature of the first year of study (Year 12). Individuals, firms, markets and market failure. 1. Economic methodology and the economic problem* 2. Individual economic decision making 3. Price determination in a competitive market* 4. Production, costs and revenue* 5. Perfect competition, imperfectly competitive markets and monopoly* 6. The labour market 7. The distribution of income and wealth: poverty and inequality 8. The market mechanism,market failure and government intervention in markets* 9. The national and international economy 10. The measurement of macroeconomic performance* 11. How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts* 12. Economic performance* 13. Financial markets and monetary policy* 14. Fiscal policy and supply-side policies* 15. The international economy