Economics

Course specification: AQA: AS Level 7135, A Level 7136

Sixth Form StudentContent of AS Level

The operation of markets and market failure

  • The economic problem and economic methodology
  • Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets

The national economy in a global market

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

Paper 1 The operation of markets and market failure (50% of AS Level)
Paper 2 The national economy in a global market (50% of AS Level)

These units are assessed by 20 multiple choice questions and a written data response question.

Content of A Level

Individuals, firms, 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
  • The market mechanism, market failure and government intervention in markets

The national and international economy

  • The measurement of macroeconomic performance
  • How the macroeconomy works: the circular flow of income, AD/AS analysis and related concepts
  • Economic performance
  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies
  • The international economy

Paper 1 Markets and market failure
Paper 2 National and international economy
These papers will be assessed by data response questions and essay questions.

Paper 3 Economic principles and issues
This paper covers the whole A Level syllabus containing both microeconomic and macroeconomic topics. It will be assessed by multiple choice questions and an economic report.

(Each paper is 33.3% of the A Level)

Key skills

An interest in economic affairs and a desire to explore why and how the study of Economics contributes to an understanding of the modern world

  • A familiarity with various types of statistical and other data
  • Written skills
  • The enjoyment of discussing and debating key issues in the news
  • The ability to propose, analyse and evaluate possible solutions to economic problems

Enrichment opportunities

  • St Mary’s School, Cambridge Enterprise Scheme

Higher Education and career prospects

You will learn a variety of transferable skills, including collecting and analysing economic information from different sources, developing written communication skills and developing problem solving evaluation skills.

These will be valuable for university courses in areas such as Law, Business, Accounting, Politics and Economics. Students with A Level Economics have access to a wide range of possible careers, particularly in the financial sector

View our Leaver Destinations