Economics

Course summary

Economics is present in almost every aspect of our lives. Studying A level Economics gives you an understanding of the inner workings of the world we live in, from what determines the price of goods to why the average standard of living differs widely between countries. Economics is taught at Abingdon School. Theme 1: introduction to markets and market failure (nature of economics; how markets work; market failure; government intervention). Theme 2: the UK economy – performance and policies (measures of economic performance; aggregated demand and supply; national income; economic growth; macroeconomic objectives and policies). Theme 3: business behaviour and the labour market (business growth; business objectives; revenues, costs and profits; market structures; labour market). Theme 4: a global perspective (international economics; poverty and inequality; developing economies; the financial sector; role of the state in the macroeconomy).