Economics

Economics

 

AS Economics (AQA):

We live in an increasingly small world, with communications and trade changing everything.  However, there are only so many resources available to satisfy us all. This is the basic economic problem, so consumers, firms and Governments have to make difficult choices.  Economics studies and makes sense of theses fascinating problems. 

Method

A-Level Economics allows students to acquire knowledge and understanding of both Micro and Macroeconomic models and apply these to current problems and issues. They will by aware of the performance of the UK economy over the last thirty years and also understand the influence of European Union membership and the international economy. They will also develop their understanding of different markets and market failure. During their course of study, students are encouraged to develop a critical approach to economic models and methods of enquiry.

Topics

The operation of markets and market failure

1 Economic methodology and the economic problem

2 Price determination in a competitive market

3 Production, costs and revenue

4 Competitive and concentrated markets

5 The market mechanism, market failure and government intervention in markets    

The national economy in a global context

6 The measurement of macroeconomic performance

7 How the macro-economy works : the circular flow of income, AD/AS analysis, and related concepts

8 Economic performance

9 Macroeconomic policy

Assessment

A2 Economics (AQA)

Topics

At A2, the same broad categories of Micro and Macro-economics are studied in more breadth and depth through the following topics:

Individuals, firms, markets and market failure

1 Economic methodology and the economic problem

2 Individual economic decision making

3 Price determination in a competitive market

4 Production, costs and revenue

5 Perfect competition, imperfectly competitive markets and monopoly

6 The labour market

7 The distribution of income and wealth: poverty and inequality

8 The market mechanism, market failure and government intervention in markets

The national and international economy

9 The measurement of macroeconomic performance

10 How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts

11 Economic performance

12 Financial markets and monetary policy

13 Fiscal policy and supply-side policies

14 The international economy

Assessment

 

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