This course provides a comprehensive insight into the complexities of the global economy and the mechanisms that drive financial decision making. You will begin by exploring the fundamental principles of microeconomics where you will analyse how market forces of supply and demand allocate resources and determine prices. The curriculum expands to macroeconomics allowing you to investigate government objectives such as controlling inflation, reducing unemployment, and stimulating economic growth alongside the impact of international trade. You will also examine advanced topics including market failure, labour markets, and the challenges of economic development in a globalised world. By applying economic theories to diverse case studies, you will be equipped to evaluate conflicting viewpoints and make reasoned judgements on current economic issues.
AS Level Content: Fundamentals (Papers 1 and 2)
The AS Level focuses on core economic ideas, microeconomic principles, and foundational macroeconomic analysis.
1. Basic Ideas & Microeconomy
Covers scarcity, opportunity cost, factors of production, PPCs. Includes demand, supply, elasticity, market equilibrium, and government intervention.
2. Macroeconomy & Intervention
Focuses on national income, AD/AS analysis, economic growth, unemployment, fiscal and monetary policy, and international issues (trade, balance of payments, exchange rates).
A Level Content: Advanced Theories and Policy (Papers 3 and 4)
The A Level builds on AS knowledge with deeper evaluation, advanced analysis, and strategic policy topics.
Advanced Microeconomic Analysis
Covers **utility theory, indifference curves, market efficiency/failure**, externalities, costs, revenue, profit, and detailed analysis of **market structures**.
Advanced Macroeconomic Policy
Advanced circular flow, **the multiplier**, economic growth/sustainability, policy evaluation (trade-offs, **government failure**), and monetary systems.
Advanced International Issues
In-depth discussion on **balance of payments adjustment**, **exchange rate systems**, **economic development**, and the complexities of **globalization**.
Skill Development Focus
The course develops high-level analytical, evaluative, and communication skills necessary for economic study.
Knowledge & Analysis
Explaining concepts clearly (often with diagrams) and applying economic tools to interpret data and evaluate arguments.
Evaluation
Assessing arguments, recognizing model limitations, and communicating reasoned judgments effectively.
Communication
Presenting ideas and judgments clearly and logically using written, numerical, and diagrammatic forms.
Assessment Structure
The full A Level qualification is based on four papers (P1, P2, P3, P4), which can be taken as a staged assessment.
AS Level Papers (P1 & P2)
- Paper 1 (AS MCQ):1 hr | 30 questions | 33% of AS Mark.
- Paper 2 (AS Data/Essays):2 hrs | Compulsory data response + Micro essay + Macro essay | 67% of AS Mark.
A Level Papers (P3 & P4)
- Paper 3 (A Level MCQ):1 hr 15 mins | 30 questions (A Level content) | 17% of A Level Mark.
- Paper 4 (A Level Data/Essays): 2 hrs | Compulsory data response + Micro essay + Macro essay (A Level content) | **33%** of A Level Mark.