Economics

Course summary

The A Level economics course is open to all prospective Sixth Form students. No prior knowledge of course material is expected or presumed. The specification is designed to develop an understanding of contemporary economic problems. Issues for analysis are wide-ranging, from ‘Why do we have poverty in rich countries and multi-millionaires in poor countries?’ to ‘Can economists help save the planet from the effects of climate change?’ The greatest attribute any aspiring economist can have is an inquisitive mind. Curiosities are much more easily unravelled when thinking is done within a rigorous theoretical framework. Economists have their way of thinking and this course aims to pass on this methodology to others. Of course, your early years in maths, English, science and other lessons will have equipped you with the analytical, quantitative and critical thinking skills that will allow you to make sense of the course material. What topics will I study? • Resource scarcity and the need for economics • Demand, supply and the role of prices • How businesses behave under different market conditions • The labour market - who does what why and how much do they get paid for doing it? • Income, wealth, poverty and inequality. How much inequality is efficient and tolerable? • When, why and how markets can fail and how far should governments try to correct this failure? • Macro-economic performance; how economies function at the national level • Globalisation, trade and economic development