In A Level Economics (Specification - Edexcel) you will look at the fundamental forces that affect our lives, such as employment, prices, international trade, and poverty. Economists are often in healthy debate with others over these issues. It is this controversy that makes Economics lively and interesting and allows you the opportunity to make your judgments and form your own opinions. There are several definitions of economics, with each trying to encapsulate the essence of the subject. However, most seem to agree that economics concerns the allocation of society’s scarce resources amongst the many alternative uses to which they could be put. In year one you will focus on both Microeconomics and Macroeconomics. Microeconomics addresses individual issues such as: “Why are house prices so high?”, “Can pollution effectively be controlled?” and “Should governments interfere with these individual issues?” The macroeconomic issues covered include: “Why does the Government have an inflation rate target and how does it affect us?”, “What happens to the economy if people decide to spend more?” and “How are we affected by the Chinese and Indian Economies?”. In year two you’ll build on your micro and macro knowledge and study another two key topics; ‘The Global Context’ and the ‘European Union Context’. The first includes the impact of globalisation on UK economic performance and the second includes the effects of EU membership and economic policies on the UK economy.