Economics

“The whole point of Economics is to solve people’s problems (and not just money problems).  It is about power and information, truth and credibility.  It will help in finding love as much as help in getting a job”.  

Tim Harford – The Undercover Economist (Financial Times).

“Study economics and you'll soon be able to impress your friends – and your parents’ friends – by knowing what phrases such as ‘the balance of payments’ and ‘budget deficit’ mean. However, economics is about so much more than high finance – it touches every aspect of our lives. Essentially, it is about how you, your family, the firm where you work on a Saturday and your Government choose to use the resources available (time, money, skills, buildings or land, for example) to maximum effect. Look at how and why these decisions are made and you'll soon have a much greater understanding of the way the world works. With an economics qualification, you'll be a good catch in business, banking and accountancy, as well as politics, journalism and the charity sector. It is a great subject for those with questioning minds, curious about what goes on around them. And what's more, it's fun!”

Lucy Rock, News Editor, The Observer

 “Economics is fascinating to study because it is so applicable to everyday life. Why is the economy taking so long to recover from the financial crisis? Will the government be able to repay its mountain of debt? There are very few subjects that you can study during the day and see the relevance of what you've learned on the news at night.”

Karen Ward Senior Global Economist, HSBC

Economics A Level is the right subject for you if you enjoy: debating economic issues such as inequality, immigration and how we should pay for healthcare using and interpreting data to analyse economic problems discussing alternative courses of action keeping up to date with national and international trends

Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you make better choices.

How is the Pearson Edexcel A Level in Economics structured?

The subject has been grouped into four broad areas of study. In Theme 1 and Theme 2 students will be introduced to the nature of economics, how markets work and why they fail. Students will also consider the role of government and the UK economy. In Theme 3 and Theme 4 you will explore how businesses grow and compete, the labour market and how the government intervenes to make markets work better.

Students’ will also explore international trade, inequality within and between countries, emerging and developing economies, and the public finances. Additionally they will also have an opportunity to consider the role and impact of the financial sector.

Year 12 Topics

Theme 1 – Introduction to Markets and Market Failure

This theme focuses on microeconomic concepts.

 Students will develop an understanding of:

● nature of economics including an introduction to behavioural economics

● how markets work

● market failure

● government intervention.

Theme 2 – The UK Economy performance and policies

This theme focuses on macroeconomic concepts. Students will develop anunderstanding of:

● measures of economic performance

● aggregate demand

● aggregate supply

● national income

● economic growth

● macro economic objectives and policy.

Year 13 Topics

Theme 3 – Business Behaviour and the Labour Market

This theme develops the microeconomic concepts introduced in Theme 1 andfocuses on business economics.

Students will develop an understanding of:

● business growth

● business objectives

● revenues, costs and profits

● market structures

● labour market

● government intervention.

Theme 4 – A Global Perspective

This theme develops the macroeconomic concepts introduced in Theme 2 andapplies these concepts in a global context. Students will develop anunderstanding of:

● international economics

● poverty and inequality

● emerging and developing economies

● the financial sector

● role of the state in the macro economy.

How is Pearson Edexcel A level in Economics assessed?

There are three examination papers at the end of the course, each paper is two hours long.

Paper 1 Short-answer, data response and essay questions on markets and business behaviour – this is the content you study in Theme 1 and Theme 3.

Paper 2 Short-answer, data response and essay questions on the national and global economy – this is the content you study in Theme 2 and Theme 4.

Paper 3 The questions in the exam – data response and essay questions – cover concepts and theory from the whole course.

How will I be taught?

Students are taught by subject specialists and the Head of Department is an examiner for the A level We use a wide range of approaches including:

  • Case studies
  • TV/Video clips
  • Examination skill development through essay writing and practice exam questions
  • Visits, conferences and outside speakers
  • Extensive resources and support materials on our own Google Classroom
  • Reading study texts and note-taking
  • Seminar style group work
  • Interactive quizzes and competitions using tools such as Kahoot!.

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School Office: +44 (0)1823 272559

contact@queenscollege.org.uk

© 2016 - 2019 QUEEN’S COLLEGE, TRULL ROAD, TAUNTON, SOMERSET TA1 4QS

Methodist Independent Schools Trust

Registered Office: Methodist Church House. 25 Marylebone Road, London, NW1 5JR

Charity No. 1142794. Company No. 7649422

School Office: +44 (0)1823 272559

contact@queenscollege.org.uk

© 2016 - 2019 QUEEN’S COLLEGE, TRULL ROAD, TAUNTON, SOMERSET TA1 4QS

Methodist Independent Schools Trust

Registered Office: Methodist Church House. 25 Marylebone Road, London, NW1 5JR

Charity No. 1142794. Company No. 7649422