Economics

Course summary

A Level Economics will help you examine the production and consumption of goods and services, and how this can best be organized to suit the competing objectives of consumers, firms and governments. In the first year, you will be introduced to the basic economic problem of scarcity, unlimited wants, and how the market allocates scarce resources. You will consider the government’s role in managing the economy and how it achieves the macroeconomic objectives of economic growth, reducing unemployment, and equality in the distribution of income. In the second year, you learn about the economics of business behavior. You will study how firms make price and output decisions and how the behavior of one firm is affected by the actions of another. You will also study global economics and consider issues such as trade, globalization, and development. As part of this, you will explore the role of banks and financial markets in the global economy. Throughout the course, you will develop knowledge of the main economic trends over the past 25 years and be able to compare recent and historical economic events. The course will introduce you to different economic thinkers and how these thinkers have influenced economic policy and debate.