You should study Economics if you have a genuine interest in finding out about what affects people’s demand for goods, how the economy works and how we make difficult choices in a world of unlimited wants with limited resources. It is recommended that those considering Economics as a possible degree course, particularly a BSc, should also consider studying Mathematics at A-Level and will require a minimum B grade at GCSE Mathematics.
You will be assessed through essay style questions and past-paper exam questions. These exams are based on real world examples and allow students to practice the complex economic theory learned, such as the cause and impact of the global economic downturn and the UK credit crunch. Students ultimately battle between difficult decisions to reach acceptable and justifiable solutions. The lessons will be a mixture of teacher-led activity, workshops and student investigations. At times, you may work in a group and at other times individually.
Paper 1: Operation of Markets and Market Failure (1 hour 30 - 70 marks) 50% of AS Level.
Paper 2: The National Economy in a Global Context (1 hour 30 - 70 marks) 50% of AS Level.
Paper 1: Markets and Market Failure (2 hours - 80 marks) 33.3% of A-Level.
Paper 2: National and International Economy (2 hours - 80 marks) 33.3% of A-Level.
Paper 3: Economic Principles and Issues (2 hours - 80 marks) 33.3% of A-Level.
University degree in economics or a related subject.
Economics will allow you to work within a range of exciting top institutions from investment banking to diplomatic services, accountancy to financial risk analyst where the requirement for top economic advisors has never been greater!
• Individuals, Firms, Markets and Market Failure.
• Economic Methodology and the Economic Problem.
• Individual Economic Decision Making.
• Price Determination in a Competitive Market.
• Production, Costs and Revenue.
• The National and International Economy.
• The Measurement of Macroeconomic Performance.
• How the Macro-economy Works : The Circular Flow of Income, AD/AS Analysis, and Related Concepts.
• Economic Performance.
• 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 .
• Financial Markets and Monetary Policy.
• Fiscal Policy and Supply-Side Policies.
• The International Economy.