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Economics

Why study Economics?

Economics is the social science that analyses the production, distribution, and consumption of goods and services.
 
Studying A Level Economics is a great way to start your career progression in Economics or a related discipline such as Business Studies or Politics. If you are interested in how the economy works and are concerned with how society sets about meeting people's demands for things they want to consume then this is the course for you.

What will I study?

Edexcel Level 3 Advanced GCE in Economics A level is structured into four themes and consists of three externally examined papers.

You will build knowledge and understanding of core economic models and concepts in Themes 1 and 2, and then build on this and apply your knowledge to more complex concepts and models in Themes 3 and 4.

You will need to apply your knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.

Theme 1. Understanding the nature of economics, how markets work, market failure and government intervention.

Theme 2. Develop an understanding of: measures of economic performance, aggregate demand & supply, national income, economic growth and macroeconomic objectives and policy.

Theme 3 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, market structures, labour market and government intervention. 

Theme 4 Develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of: international economics, poverty and inequality, emerging and developing economies, the financial sector and the role of the state in the macroeconomy.

Link to Edexcel Economics website


How is the course assessed?

Assessment is entirely based upon 3 written exams  at the end of year 13:

Paper 1 will assess microeconomics and questions will be drawn from Themes 1 and 3.

Paper 2 will assess macroeconomics and questions will be drawn from Themes 2 and 4.

Paper 3 will assess content across all four themes. Students are required to apply their knowledge and understanding, make connections and transfer higher-order skills across all four themes.


What grades do I need to study Economics at HSC?

To study Economics you must have at least five A* - C grades at GCSE, including Maths and English.