WHY STUDY THIS COURSE? Economics is fundamentally a social science and not simply all about numbers. It is the study of the world around us from a social, financial and cultural perspective, gaining an understanding of economic theories and interrelationships between macro and micro economic issues. Economics is a highly regarded academic subject which can provide the underpinning knowledge, awareness and skills to progress to a wide range of further studies and professions, not only that, it is incredibly relevant given the current state of the world economy. You will cover a wide range of topics, broadening understanding of economic issues, from understanding supply and demand and the difference between economies and diseconomies of scale through to differing market structure and the price mechanism. Other topics include AD/AS analysis, aggregate demand, fluctuations in economic activity and economic growth, inflation, monetary and fiscal policy, how and why governments intervene in markets and why, and the labour market COURSE DESCRIPTION The Edexcel Economics course is structured into four themes and consists of three externally examined papers. You will build knowledge and understanding of core economic models and concepts in Themes 1 and 2, and further develop this and apply knowledge to more complex concepts and models in Themes 3 and 4. You will need to apply knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies. · Theme 1: Introduction to Markets and Market Failure · Theme 2: The UK economy – performance and policies · Theme 3: Business behaviour and the labour market · Theme 4: A global perspective