Economics

Subject Leader: Miss N dela Fuente

Key Stage 5

Economics A level

Exam Board: LIBF

Course Overview

The AQA A Level Economics course provides students with a comprehensive understanding of both microeconomic and macroeconomic principles. It equips learners with the analytical tools and knowledge necessary to understand economic behaviour, market dynamics, and the economic issues that shape societies.

Assessment: The AQA A Level Economics is assessed through three exams at the end of the two-year course.

Paper 1: Markets and Market Failure (80 marks)

Focuses on microeconomics
Includes data response and extended essay questions

Paper 2: National and International Economy (80 marks)

Focuses on macroeconomics
Includes data response and extended essay questions

Paper 3: Economic Principles and Issues (80 marks)

Synoptic paper covering both microeconomics and macroeconomics
Includes multiple choice, data questions, explanation questions and extended essay questions.

Key Stage 5 Curriculum Content

The course is divided into two main components: Microeconomics and Macroeconomics, each covered over two years

Year 12

Year 1:

1. Introduction to Markets and Market Failure

The economic problem and economic methodology
Individual economic decision-making
Price determination in a competitive market
Production, costs, and revenue
Perfect competition, imperfectly competitive markets, and monopoly
The labour market
The distribution of income and wealth: poverty and inequality
Market failure and government intervention

2. The National Economy in a Global Context

Measurement of macroeconomic performance
How the macroeconomy works: the circular flow of income, AD/AS analysis, and
related concepts
Economic performance
Macroeconomic policy

Year 13

Year 2:

3. Individuals, Firms, Markets, and Market Failure

Further analysis of market structures
The theory of the firm
Labour market economics
Poverty and inequality
The role of government in the economy

4. The National and International Economy

Globalisation
The financial sector
Role of the state in the macroeconomy
International trade
Balance of payments
Exchange rates
Economic development
Sustainability and growth

Useful Information

Useful Website Links

https://www.physicsandmathstutor.com/economics-revision/

Suggested Revision Guides and Books

AQA A-level Economics - My Revision Notes: David Lewis

Out of School Learning (OSL) and Extracurricular Activities

OSL will be invite only based on mock exam and class assessment results.
Visit from London School of Economics to discuss their university courses