Economics

Course summary

This is a subject concerned with how prices are established in a market, how resources are allocated in an economy, and how and why governments try to manage the economy. It is a subject offered at ‘A’ level without any prior knowledge and covers: - What is economics? - Theory of demand and supply - Making choices and allocating resources - Market failure and government intervention - Macroeconomic policy - The international economy - Evaluating economic performance - Analysing market structures - Environmental impact of economic decisions - Economic integration Economic theories are the basis of this A Level which requires both competent numeracy and literacy skills. Current issues are frequently discussed in the classroom and students need to have a keen interest in keeping up-to-date with national and international news.