Level: Advanced (Level 3)Awarding Body: Edexcel
Why study Economics?
Studying Economics is about having a greater understanding of the world we live in and being able to appreciate the interdependence of consumers, firms and governments at a local, national and international level.
2018-2019 was a year where controversial economic issues made the headlines. In the field of Microeconomics (the study of the behaviour of individuals or groups such as consumers, firms or workers) the growth of technological firms like Google, Uber and Spotify dominated the headlines. In the field of Macroeconomics (the study of the economy as a whole) the UK, Europe and the rest of the world (ROW) were faced with a combination of issues such as; Brexit, the election of Donald Trump and the demise of Venezuela.
Economics will help you to explain and analyse such issues using economic data, models and indicators. You will be able to use key theories to explain changes in the economic environment and learn how to organise, present and communicate ideas. You will also develop the confidence to make economic judgements on economic policy prescriptions in a structured and convincing manner.
What can it lead to?
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.
How is the course organised?
For more information see: Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
The Edexcel Economics specification gives a strong grounding in both microeconomics and macroeconomics, through a three-component externally assessed qualification. The specification content has been designed to capture and inspire the learner’s interest in making links to modern life and the world around them. It provides the opportunity to study a wide range of concepts which can be applied in a variety of contexts. At the heart of OCR Economics is its relevance to the modern world; its topicality will engage the learner and facilitate an understanding of their role in society. The stimulating specification content will encourage learners to develop their skills as independent learners, critical thinkers and decision makers – all personal assets that can make them stand out as they progress to higher education and/or the workplace.
How is the course assessed?
Year 12 – We will cover the units for AS
Regulated Qualifications Framework (RQF) - (QN) Advanced Subsidiary GCE – 601/4106/2
Subject codes - GCE – 8EC0
Paper code: Paper 1: 8EC0/01 Paper 2: 8EC0/02
Year 13 – We will cover the units for A level
Regulated Qualifications Framework (RQF) - Advanced GCE – 601/4105/0 (QN)
Subject codes - GCE – 9EC0
Paper code: Paper 1: 9EC0/01 Paper 2: 9EC0/02 Paper 3: 9EC0/03
What do I need to qualify for this course?
In addition to normal College entry requirements, students must have at least a grade 4 (C) in Mathematics AND English Language.
Students do not need to have studied this subject before. Students aspiring to study Economics at most Russell Group universities will also need to study A level Mathematics.
An interest in the news, both on a national and international level is crucial and you will be expected to read newspapers, books and journals to keep abreast of the news on a weekly basis. All students will receive free login details for the Economist, the Financial Times and the Guardian to help them achieve this goal.
You will need to purchase a core textbook for the A Level course and a revision guide (approximately £20 each per year.)
Who are the teachers?
There are currently two teachers in the department who will deliver the new A level curriculum; Miss Coyle (Head of Department) and Richard Smith.
Miss Coyle has a degree in Economics and Politics from University College Gateway in Ireland and has experience teaching Business and Economics for the past 30 years. Mr Smith has a degree in Economics from Newcastle University and has also taught Economics and Business for 6 years. Both teachers obtained a 2:1 grade at their respective universities and have gone on to gain experience as examiners for different examination boards to equip them to help their students achieve the best possible grade in economics.
The economics department shares a vision in creating a department that is engaging, skills driven and exam focused. Both teachers within the department have taught different examination specifications ranging from AQA to OCR and are well equipped and settled on delivering the Edexcel A linear specification.
In addition, the department has built strong links with financial and technological firms such as Deutsche Bank, Google & General Assembly so that students can benefit from trips, research and employment opportunities.
What do students say about the course?
‘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’. Nasim Rahman, Y2 Microeconomics
I find the lessons beneficial as we are constantly going over examination techniques and developing skills so that I can improve my grades. Jamila Karamoko, Y1 Macroeconomics
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. Ronaldo Wray, Y1 Macroeconomics
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’ Nana Addae-Aboagye, Y1 Macroeconomics
The Economics department has built close links with a series of finance and technological firms such as Deutsche Bank, Google & General Assembly. Visits to campuses across London will be arranged so that students can see the breadth of job opportunities and roles that are available in these fields. For example, a handful of students visited Google Campus on Demo night so that they can grasp how entrepreneurs created and present their inventions.
In addition, students will visit the Bank of England to grasp the role of the Monetary Policy (MPC) in setting interest rates to target the 2% inflation rate.
The department also works closely with several leading universities who come to give presentations or offer our students workshops 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 to discuss his views on topics issues such as Brexit and give advice to students wishing to study Economics at university.