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Economics

A level economics provides students with a better understanding of the world around them. Students study fundamental issues such as employment, process, international trade and poverty. These ever changing issues make economics a dynamic and interesting subject.

This course provides an introduction to the two main branches of economics: microeconomics (the way in which markets work) and macroeconomics (how economies operate).

Students will learn how to manipulate data, interpret results, present arguments and to make judgements with justified recommendations on the basis of the available evidence.

KEY STAGE 5

Exam Board: OCR

Component 01: Micro-economics

For this component, micro economic theories are introduced and applied to the behaviour of economic agents in the real world, especially the theoretical workings of the free market. Exploring imperfections and market failures introduces the merits and drawbacks of government intervention. This encourages students to evaluate the effectiveness of the theories in explaining real-world behaviour.

Component 02: Macro economics

This component introduces the technical and analytical tools required for understanding of how the macroeconomy functions on both a domestic and global level, and the potential impacts and limitations of a variety of governmental policies and approaches.

Component 03: Themes in economics

This component draws on the topics covered in the previous two components and applies the content of both, as appropriate, to a specific unseen theme.

 

Career Opportunities / Routes

This course supports progression into a varied range of higher education courses and careers. Employment rates for economists are among the highest for graduates. They are likely to find employment in finance, banking, insurance, accountancy, politics, management and consultancy. Many students go on to become professional economists.

Assessment

Paper 1: Micro economics

  • 33%

Paper 2: Macro economics

  • 33%

Paper 3: Themes in economics

  • 33%