Economists recognise that we live in a world where resources such as oil, drinking water, plumbers, iPhones, etc. are limited whereas our wants are unlimited. Economics is therefore the study of allocating society’s resources. In practice we try to answer questions such as:
- Is university worth getting into debt for?
- Why are so many goods produced in China?
- Will interest rates rise or fall?
- What can we do to solve global poverty?
Why study Economics?
The skills you learn are valued by a wide range of universities and employers and can lead you into careers, such as government, finance, sales, marketing, research, etc. You develop insights into how the world works, an excellent understanding of current affairs, outstanding analytical skills and the ability to construct clear, persuasive arguments.
What makes a successful Economics student?
- An interest in how the world works
- A questioning, analytical mind
- Sound numeracy and literacy skills
- Enthusiasm and a willingness to think and work hard
To study this course, what qualifications will I need and in which subjects?
You do not need to have studied Economics or Business Studies before. However a good standard of literacy and numeracy is required.
Theme 1: Markets and Market Failure
This topic focuses on individual markets, e.g. the market for oil, gold or the housing market. You also study how markets fail and the role of government.
Theme 2: The UK Economy
You will develop a sound understanding of the UK economic policy and macroeconomic theories. Key topics include inflation, unemployment, and growth.
Theme 3: Business Behaviour and the Labour Market
Theme 1 is developed to explain firms’ behaviour in market structures such as monopoly and perfect competition. You investigate industries, such as banking, airlines and energy.
Theme 4: A Global Perspective
This topic deepens students’ understanding of macroeconomics by investigating the global economy, the financial sector and the increasing impact of trade.
The full A Level has 3 examinations at the end of the second year.
The examinations are a combination of data response, short answer questions and extended essays.
What opportunities are there for me to study beyond the classroom?
What kind of career does this subject/qualification prepare me for?
Universities regard Economics as a challenging subject. Employers value Economics as it balances both numeracy and literacy skills and shows an ability to analyse real world problems logically. It is an excellent route into higher education, finance, accountancy, industry and government. Just as importantly – it is fascinating!
For more information, please speak to Mr Barnes or Ms Desgland in C2 / C4 or
click here to visit the exam board website.