Economics

Course summary

What will I learn on this course? Economics A Level encourages students to ‘think as economists’ and develop the appropriate range of analytical, questioning and reasoning skills to achieve this objective. Economics A Level will enable students to develop a strong grounding in the main economic concepts and theories and to develop a critical consideration of their value and limitation in explaining real world phenomena. Students will learn how to select and interpret economic data and graphical representations of economic problems as well as to understand their possible limitations. They are encouraged to make reasoned and informed judgements using both qualitative and quantitative evidence. Component 01 introduces students to the main microeconomic concepts, the economic agents, the basic economic problem and the role of markets, including business objectives, market structures and the labour market. Component 02 focusses on the main macroeconomic concepts such as aggregate demand and supply, policy objectives, how they are being implemented including policy conflicts and government failure as well as the importance of international trade, the impact of globalisation and the role of the financial sector.