Economics

Course summary

Economics is both a theoretical and a practical subject and the A Level syllabus reflects this. At the heart of the subject is the modern world, and a successful economist must be able to understand economic theory and be able to use and apply this theory in relevant ways to study local, national, European and world economic issues. The subject is often divided into microeconomics, which is the study of a part of the economy such as an individual firm or industry, and macroeconomics, which looks at economic problems at the national or international level, eg inflation, unemployment, exchange rates. In the theoretical components of the course we introduce basic principles, an understanding of which is necessary for a detailed study of the economy and economic problems.