A Level Economics
A Level Year 12/AS Level
Level 3 Economics A Level is structured into four sections. Students develop knowledge and understanding of core economic theories and concepts over two years. Students will need to apply their knowledge and understanding to both familiar and unseen contexts in the assessment and demonstrate an awareness of current economic environment and policies.
Year 1 focuses on Micro Economics, students will develop their understanding of markets and market failure by focusing on nature of economics, how markets work and how does market fail. Also, detail study of Government intervention to correct the market failure is studied in year 1 microeconomics.
Year 1 also focuses on macroeconomics and students will develop an understanding of measures of economic performance and macroeconomic objectives. Key macroeconomic components such as aggregate demand, aggregate supply, circular flow of income are explored in detail. Also, students will be able to understand macroeconomic policies such as fiscal policies, monetary policies and supply-side policies and objective conflicts.
A Level Year 13
Year 2, focuses on business economics and Students will develop an understanding of the growth of the business, different business objectives, and various types of revenues, costs and profits. Also, various forms of market structures are studied such as perfectly competitive market, monopoly market, monopolistic competition and oligopoly. The labour market is also a key area which is studied in year 2. Students will be able to develop government intervention in the product market and labour market.
Year 2 also focuses on macroeconomics from a global perspective and students will develop an understanding of International economics, international trade, globalisation and protectionism. Students will also learn economic development and poverty and inequality in emerging and developing economies. A non-detailed study of the financial sector is also part of the A level economic specification.
This specification has no internally marked coursework or controlled assessment. Also, it is not necessary for students to have studied GCSE Economics before learning A level specification and no prior knowledge of Economics is necessary.
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