Economics

Course summary

During Year 12, in Macroeconomics, candidates will develop a broad knowledge and understanding of the economy of the UK in the context of the EU and global economies. In Microeconomics, the focus is on the operation of markets and the analysis of the strengths and weaknesses of both markets and state intervention through the topics of government and market failure. These themes are further developed in the second year of the course with more emphasis on the global economy, trade and development. Financial and behavioural Economics are important topics at A level. The course introduces students to the microeconomic nature of economics, looking at economic problems and the ways economists think and work. In Year 13, students will be expected to understand the significance of globalisation, international trade, the balance of payments and exchange rates. They will examine public finance, macroeconomic policies and the role of the financial sector in a global context. Students will also consider the factors influencing the growth and development of emerging and developing countries. • Theme 1 – Introduction to markets and market failure • Theme 2 – The UK economy – performance and policies • Theme 3 – Business behaviour and the labour market • Theme 4 – A global perspective