Economics

Course summary

“Economic issues affect everyone and all informed citizens need to reflect upon them.” - Paul Ormerod The Economics A-level course has been developed from the Economics and Business course which we have taught successfully since 1995. The recently updated A-level Economics B course aims to integrate economic and business concepts and apply them to a range of contemporary real-world issues, to bring the subject to life. We aim to encourage an investigative approach to the understanding and evaluation of the market economy and the role of citizens, businesses and governments within it. We also aim to follow a progressive learning strategy, which builds upon and shares the students’ own experiences. We seek to enable the key skills of communication, application of numbers, IT, problem-solving, and working with others to be acquired and practised. The A-level course covers four themes, with Themes 1 and 2 covering concepts such as normal demand and supply, business efficiency and profit, motivation and lean production, competition and government policy on taxation, public spending, unemployment and inflation. Ethical and environmental issues are also explored in these two themes. Theme 3 focuses particularly on competition between firms and in international markets, exploring issues which a company trading internationally would have to consider. Theme 4 considers why certain markets fail and how government decision-making affects the economy, businesses and the income and welfare of private individuals. No previous knowledge of Economics is necessary, allowing everyone to start from a level playing field. The course demands strong written techniques, along with data handling and analytical skills. Just as important is a lively and enquiring mind, an interest in current business and economic affairs and a willingness to use initiative in exploring new ideas.