Economics A Level Course Outline
Advanced Level 3
Awarding Body: Edexcel
Study Economics
Studying Economics is about gaining a greater understanding of the world we live in, how it works and how it could be changed for the better. At its core Economics is a study of scarcity, and students over the two year course will learn about the key role that consumers, firms and governments at a local, national and international level play when it comes to the process of allocating scarce resources.
How can Economics A-level studies benefit students?
1. Understanding the world: Economics helps us understand how the world works and how people make decisions about what to buy, how much to save, and how to invest their money.
2. Solving real-world problems: Economics provides tools and frameworks to analyse and solve real-world problems, such as poverty, inequality, climate change, health crises and unemployment.
3. Career opportunities: Studying economics can lead to a wide range of career opportunities, including working in finance, management, government, consulting, and academia.
4. Personal finance: Economics can help individuals make better decisions about their personal finances, such as how to save, invest, and manage debt.
5. Global perspective: Economics provides a global perspective on issues such as trade, development, and environmental sustainability, which are increasingly important in our interconnected and globalised world.
Economics will help you to explain and analyse such questions as;
- Why are some countries very rich and others very poor?
- Does Automation and Artificial Intelligence create jobs or destroy them?
- Are very profitable companies desirable for a country and its economy?
- Is Free Trade a good thing? Or should countries try to produce what they need domestically?
- Why do Financial Crises happen and what can be done to stop them?
- Can Climate Change be helped by businesses or do governments need to do more?
You will learn how to use key theories to explain changes in the economic environment and learn how to organise, present and communicate ideas as well as how to develop the confidence to make economic judgements on economic policy prescriptions in a structured and convincing manner, which will serve as solid practice for undergraduate study which many of our students progress on to after St Charles.
The General entry requirements for A Level courses are six GCSEs grades 9-4 and above, including English Language.
Grade 4 English - 5 in Maths
Edexcel GCE in Economics A is structured into four themes.
In the first year Students are introduced to Microeconomics in Theme 1 ‘Markets and Market Failure’. Microeconomics is all about the study of individual decision makers in the economy, such as consumers, workers and firms and how their decisions impact the wider economic environment.
Students are also introduced to Macroeconomics in Theme 2 ‘The UK economy performance and policies’, Macroeconomics is all about the study of the economy as a whole and looks at key indicators such growth, inflation, unemployment and trade statistics.
In the second year students build on this and apply their knowledge to more complex concepts and models.
In order to succeed, students need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.
Further Information available in the link below to the Specification
https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html
Students study the full A level and at the end of the two years the course will be assessed with three external examinations:
Paper 1: Markets and business behaviour
This is a 2-hour paper which is worth 35% of the total qualification and draws on themes 1&3.
Paper 2: The national and global economy
This is a 2-hour paper which is worth 35% of the total qualification and draws on themes 2&4.
Paper 3: Microeconomics and Macroeconomics
The final paper is again 2- hour paper but is worth 30% of the total qualification. This paper is synoptic and draws on all four of the themes studied over the two years.
Regulated Qualifications Framework (RQF) - Advanced GCE – 601/4105/0 (QN) Subject codes - GCE – 9EC Paper code: Paper 1: 9EC0/01 Paper 2: 9EC0/02 Paper 3: 9EC0/03
As one of the fastest growing and increasingly relevant A Levels, Economics is highly valued by both employers and higher education institutions. Many of our Economics students’ progress onto University after leaving St Charles; around 75% go onto study an Economics related degree.
The analytical approach required of the subject means that students will have a good foundation for opportunities in a number of areas including:
Degrees: Economics, Economics and History or Politics or Economics and Computing. Students could also apply to study coding via providers such as; General Assembly, Code Bar or Founders and Coders.
Employment opportunities: Stock Broking and Merchant Banking, Law, Accountancy, Journalism, Politics, Management, Civil Service, Insurance, and the City.
The Higher Education Statistics Agency's Destinations of Leavers from Higher Education survey (DLHE) examines first degree graduate destinations six months after they graduated. According to their research 81.45 of graduates were in employment six months after graduation. They also found that 57.2% worked in Business, HR & finance where job roles included Financial Analyst, Auditing and Investment Banking
"Mr Smith has supported me from the very beginning of my journey, and has given me the strength to believe that everything is achievable and offered me unstoppable motivation even in a tough situations, I strongly believe that other classmates feel the same way as me. Our college is highly interested in exploring new opportunities for us, so it is an amazing way for us to understand concepts of working in big industries and organizations with economic spectrum, it is giving me additional rare experience which is not focused only on exams and books."
"Economics has enriched my breath of knowledge of the wider world and has given me skills to apply outside my learning. My teacher provides specialist knowledge to give this digestible, yet detailed, learning experience."
"Economics is very interesting because it explains how almost everything is related to money and the relationship between others . My teacher is very helpful and the way they explain lessons is easy to understand. The subject has helped me have a greater understanding of how the world works."
"I chose to study A-level Economics as I wanted to develop analytical, critical thinking, problem-solving, time management and communication skills, which would help me when pursuing a career in Law. My Economics teacher has helped me push myself to complete tasks to the best of my ability, his teaching methods help me understand the subject as he explains each concept in immense detail."
"Economics is a wonderful subject which has given me a better understanding of the world we live in. I have also been able to develop my evaluation skills with the help of supportive teachers who have exceptional subject knowledge and the relevant expertise to boost your grade."
"I find the lessons beneficial as we are constantly going over examination techniques and developing skills so that I can improve my grades."
"What I have really enjoyed about Economics is the ability I have gained to apply theory to real life events. For example, I learnt about the long term effectiveness of supply side policies in helping to combat the UK’s persistent current account deficit."
"Economics is an interesting topic which I wish to continue to study at university. In particular, I have really enjoyed learning about the UK economy as I feel I can analyse government policies a lot better as a result."
The Business & Economics department has close links with numerous employers and academic institutions. Students get the opportunity to attend both internal and external revision workshops and conferences.
In addition, there is the opportunity to enhance learning with enrichment activities such as investing competitions, business challenges and current affairs clubs.
The department works closely with several leading universities so that students can see the breadth of further education options that are open to them once they leave College. Students have attended presentations and workshops at the London School of Economics and City University to encourage higher order skills and application of economic theories to real world events. Phillip Coggan, the Editor of the Economist Magazine visited Economics students last year to discuss his views on topics issues such as Brexit and give advice to students wishing to study Economics at university and we regularly get speakers and visits from leading professional across a diverse range of sectors to give students advice on career options and career development.
The Department has built close links with a series of finance and technological firms such as Deutsche Bank, Google & General Assembly, Bank of England, The institute of Economic Affairs, Innocent and Barclays and students will get the opportunity to go on visits to organisations such as these across both years of their course.
In the past two years, Economics and Business A-level students have been given the opportunity to go on career and educational visits to the following businesses and institutions;
PWC, LLoyds Bank, Savills IM, Bank of New York Mellon, PA Consultancy, The Bank of England, London School of Economics and City University.
The economics department shares a vision in creating a department that is engaging, skills driven and exam focused. All teachers within the department have extensive teaching experience and are committed to helping students reach their full potential in the subject area and to helping them with their next steps after College.
For more information contact Mr Smith, Head of Department (rsm@stcharles.ac.uk)
