Economics

Course summary

There could not be a better time to study A level Economics. All of the world’s major issues, from the cost of living to climate change, can only be properly understood in the context of their economic causes and consequences. Studying Economics will help you understand many of these real world events. The course is in two parts: Microeconomics and Macroeconomics. Microeconomics This module looks at how the world allocates its scarce resources between those who compete to use them by demand and supply and the prices that result. However this system leads to a misallocation of resources, such as pollution. Microeconomics also critically analyses government intervention in markets such as healthcare and education. Macroeconomics This module develops a model of how the UK economy works and analyses the effectiveness of alternative policies to cure the problems faced by the UK. In the second year the focus is more on the international economy including issues such as the single European currency and the challenges facing developing economies.