Economics

Course summary

What is Economics? A-level Economics will give you an excellent understanding of how economies allocate their scarce resources to meet the needs and wants of their citizens. You will develop a greater understanding of the economic problems which face individuals, firms and governments on a local, national and global level and the alternative ways these problems can be resolved. Course Structure: You will learn 4 main themes: Theme 1: Introduction to markets and market failure This theme focuses on microeconomic concepts. You will develop an understanding of the nature of economics and how markets work. You will also learn how and why market failure occurs, and how governments intervene to correct market failure. Theme 2: The UK economy - performance and policies This theme focuses on macroeconomic concepts. You will develop an understanding of the measures of economic performance, aggregate demand and aggregate supply. You will learn how national income is analyse and improved, the importance of economic growth and macroeconomic objectives. Learners will analyse how policy is used to improve the health of the economy. Theme 3: Business behaviour and the labour market This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of business growth, objectives, revenues, costs and profits. You will analyse market structures, the labour market and government intervention in these markets. Theme 4: A global perspective This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts ina global context. Students will develop an understanding of international economics, poverty and inequality. Analysing the influence of emerging and developing economies, the financial sector and the role of the state in the macroeconomy.