A Level Economics (AQA)

 

Course Overview

A Level Economics gives students the tools to understand the forces that shape everyday life, from the price of their weekly shop to interest rates, government spending and global trade.

Students learn to think like economists: analysing real-world problems, evaluating competing policy solutions, and using data and diagrams to build a persuasive argument.

The course is intellectually demanding but highly rewarding, combining logical reasoning with an understanding of current affairs, and is well suited to students who enjoy debate, problem-solving and making sense of the news.

What Will Students Study

Year 12

• Economic methodology and the nature of economics
• How markets work: supply, demand and price determination
• Introduction to the macroeconomy: economic objectives and performances
• Aggregate demand and aggregate supply
• Introduction to fiscal, monetary and supply-side policies
• Market failure, government intervention and government failure

Year 13

• Competitive & concentrated markets: perfect, monopolistic, oligopoly and monopoly
• The labour market, inequality and poverty
• International economics: trade, the balance of payments and exchange rates
• Economic growth and development
• The financial sector, money and interest rates
• Individual economic decision making (behavioural economics)
• Synoptic themes linking micro and macro topics

Assessment

Students sit three written examinations at the end of Year 13, each 2 hours long and worth 80 marks (33.3% of the final grade):

• Paper 1 – Markets and Market Failure (Microeconomics)
• Paper 2 – National and International Economy (Macroeconomics)
• Paper 3 – Economic Principles and Issues (a synoptic paper covering the whole course, combining both microeconomics and macroeconomics)

They include a mix of multiple-choice, calculation, data-response, data analysis and essay.

Skills Developed

• Analytical thinking and logical argument construction
• Evaluation of competing arguments and policy options
• Interpretation and use of economic data, graphs and statistics
• Essay writing and structured extended-response skills
• Application of economic theory to real-world issues and current affairs

Progression After Graduation

A Level Economics is a highly respected and versatile qualification, well regarded by universities and employers alike.

It provides an excellent foundation for degrees in Economics, PPE, Finance, Accounting, Law and Journalism, and combines well with Maths and other social sciences.

Beyond university, it opens doors to careers and apprenticeships in banking, financial services, consultancy, government and the civil service, journalism, and data analysis, as well as any field where quantitative, analytical and evaluative thinking are valued.