SUBJECT CONTENT Theme 1: Introduction to markets and market failure This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. At the end of this unit, students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness. Theme 2: The UK economy- performance and policies This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success.
It is not necessary to have taken GCSE in Economics, however you are required to meet the sixth form ‘A’ level entry – 5 GCSEs grades 9 to 6, a Grade 7 in English and a Grade 7 in Mathematics)
Assessment: Paper 1 -Introduction to markets and market failure -Questions drawn from Theme1 80 marks, 1.5 hours -50% of qualification. -Section A: multiple-choice and short-answer questions. -Section B: one data response question broken down into a number of parts, each including one extended open response question. Paper 2 -The UK economy - performance and policies -Questions drawn from Theme 2 80 marks, 1.5 hours -50% of qualification. -Section A:multiple-choice and short-answer questions. -Section B: one data response question broken down into a number of parts, each including one extended open response question.
About Education Provider
| Region | London |
| Local Authority | Brent |
| Ofsted Rating | Outstanding |
| Gender Type | Mixed |
| Address | Donnington Road, Kenton, Harrow, HA3 0NB |
SUBJECT CONTENT Theme 1: Introduction to markets and market failure This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. At the end of this unit, students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness. Theme 2: The UK economy- performance and policies This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success.
It is not necessary to have taken GCSE in Economics, however you are required to meet the sixth form ‘A’ level entry – 5 GCSEs grades 9 to 6, a Grade 7 in English and a Grade 7 in Mathematics)
Assessment: Paper 1 -Introduction to markets and market failure -Questions drawn from Theme1 80 marks, 1.5 hours -50% of qualification. -Section A: multiple-choice and short-answer questions. -Section B: one data response question broken down into a number of parts, each including one extended open response question. Paper 2 -The UK economy - performance and policies -Questions drawn from Theme 2 80 marks, 1.5 hours -50% of qualification. -Section A:multiple-choice and short-answer questions. -Section B: one data response question broken down into a number of parts, each including one extended open response question.
