Economics

Assessment

Paper 1: Markets and Market Failure (33.3% of A-Level grade) •This paper assesses microeconomics themes relating to individuals, firms and market failure. Examining the nature of economics, how markets work, the application of supply and demand analysis to real-world situations, the nature and cause of market failure and government interventions to remedy market failures. Paper 2: National and International Economy (33.3% of A-Level grade) • This paper has a more macroeconomic flavour, focusing on how economic theories relate to a country and the world in general and how governments attempt to manage their economies for the wider benefit of society. Paper 3: Economic Principles and Issues (33.3% of A-Level grade) • This paper integrates the micro and macroeconomic issues covered over the course. It is divided into a multiple-choice section and case study; requiring students to analyse and evaluate the economic issues and principles raised in the case study.