Economics is the study of how society allocates scarce resources between competing claims on their use. Economic issues affect the lives of everyone: when we decide which goods to buy, how we divide up our work and leisure time, how businesses survive, and what policies governments use to run the country. Economics examines the issues and develops models of human behaviour. These models allow us to some extent to analyse problems, predict outcomes, and evaluate policies. How is money defined and what are interest rates and exchange rates? Is free trade a good thing? Why do unemployment and inflation keep going up and down and fluctuate between regions and countries? How do taxes affect the behaviour of firms and consumers? Component 1: Microeconomics • Introduction to microeconomics • The role of markets • Business objectives • Market structures • The labour market Component 2: Macroeconomics • Aggregate demand and aggregate supply • Economic policy objectives • Implementing policy • The global context • The financial sector Component 3: Themes in Economics • The assessment of this component is fully synoptic and draws on both the microeconomic and macroeconomic components. Synoptic assessment involves the explicit drawing together of knowledge, skills and understanding of different aspects of the A Level course.
Students should achieve at least a grade 6 in Economics and at least a grade 6 in English and Maths. A GCSE in Economics is not an essential requirement for students wishing to study A Level Economics.
The A Level in economics is a linear qualification with 100% external assessment. There will be three question papers each of two hours in length and each will carry a maximum of 80 marks. Within each of the three question papers, there will be a combination of short answer questions which carry a low tariff (maximum of 4 marks) and higher tariff extended response questions (ranging from a minimum of 8 marks up to a maximum of 25 marks) The assessment of Component 1 relates entirely to microeconomics and consists of a data response question and two high tariff questions. The assessment of Component 2 has the same format but focuses entirely on macroeconomics. Component 3 – Themes in Economics – consists of a series of 30 multiple choice questions (MCQs) and a series of short answer and extended response questions based on an unseen theme for a total of 50 marks. Each component is worth 33.33% of the total A Level.
About Education Provider
| Region | North East |
| Local Authority | Gateshead |
| Ofsted Rating | Outstanding |
| Gender Type | Co-Educational |
| ISI Report | |
| Boarding Fee | Unknown |
| Sixth Form Fee | Unknown |
| Address | Consett Road, Lobley Hill, Gateshead, NE11 0AN |
Economics is the study of how society allocates scarce resources between competing claims on their use. Economic issues affect the lives of everyone: when we decide which goods to buy, how we divide up our work and leisure time, how businesses survive, and what policies governments use to run the country. Economics examines the issues and develops models of human behaviour. These models allow us to some extent to analyse problems, predict outcomes, and evaluate policies. How is money defined and what are interest rates and exchange rates? Is free trade a good thing? Why do unemployment and inflation keep going up and down and fluctuate between regions and countries? How do taxes affect the behaviour of firms and consumers? Component 1: Microeconomics • Introduction to microeconomics • The role of markets • Business objectives • Market structures • The labour market Component 2: Macroeconomics • Aggregate demand and aggregate supply • Economic policy objectives • Implementing policy • The global context • The financial sector Component 3: Themes in Economics • The assessment of this component is fully synoptic and draws on both the microeconomic and macroeconomic components. Synoptic assessment involves the explicit drawing together of knowledge, skills and understanding of different aspects of the A Level course.
Students should achieve at least a grade 6 in Economics and at least a grade 6 in English and Maths. A GCSE in Economics is not an essential requirement for students wishing to study A Level Economics.
The A Level in economics is a linear qualification with 100% external assessment. There will be three question papers each of two hours in length and each will carry a maximum of 80 marks. Within each of the three question papers, there will be a combination of short answer questions which carry a low tariff (maximum of 4 marks) and higher tariff extended response questions (ranging from a minimum of 8 marks up to a maximum of 25 marks) The assessment of Component 1 relates entirely to microeconomics and consists of a data response question and two high tariff questions. The assessment of Component 2 has the same format but focuses entirely on macroeconomics. Component 3 – Themes in Economics – consists of a series of 30 multiple choice questions (MCQs) and a series of short answer and extended response questions based on an unseen theme for a total of 50 marks. Each component is worth 33.33% of the total A Level.