Economics is a great choice for students who have an active interest in how we as individuals and as a society make choices.
By exploring current economic issues and global factors, you will apply economic theories to the workings of markets and consumer and producer behaviour (microeconomics). In dealing with the whole economy and issues such as inflation, unemployment and economic growth, you will be studying the subject from a macroeconomic perspective.
Economics is a challenging subject which is highly regarded by universities and employers. It combines with most A Level subjects notably Politics, History, Accounts, Business, Law, Sociology and Mathematics.
THE ECONOMICS DEPARTMENT AT WYKE
A number of students accompany Economics with one or both Accounting and Business Studies. Economics has specialist classrooms equipped with interactive whiteboards and conducive group tasks and problem solving. The course will develop your Maths, English and Business skills. These are essential and are tested throughout the course and in the final exams. You will be supported in your studies by specialists economics staff who have many years of teaching and examining experience between them. All first year students get a second year appointed to them to act as a subject mentor if they wish.
Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you to make better choices.
In Theme 1 and Theme 2 you will be introduced to the nature of economics, how markets work and why they fail. You will consider the role of government and the UK economy.
In Theme 3 and Theme 4 you will explore how businesses grow and compete, the labour market and how the government intervenes to make markets work better. You will also explore international trade, inequality within and between countries, emerging and developing economies and the public finances. You will also have an opportunity to consider the role and impact of the financial sector.
PAPER 1 – Micro Economics (35%)
A 2 hour exam comprised of short-answer, data response and essay questions focused on markets and business behaviour. This is the content you study in Theme 1 and Theme 3.
PAPER 2 – Macro Economics (35%)
A 2 hour exam comprised of short-answer, data response and essay questions focused on the national and global economy. This is the content you study in Theme 2 and Theme 4
PAPER 3 – Synoptic Paper (30%)
A 2 hour exam comprised of data response and essay questions based on concepts and theory from the whole course.
HOW THE COURSE IS DELIVERED
The A Level course is delivered over two academic years. Students will receive 4 hours 40 minutes of lessons per week. Independent work is expected of students outside of lessons. There is a strong ethos of high achievement on this course. The focus of the lessons is on applying economic concepts and skills to the variety of problems encountered in the exam.
A variety of teaching methods are employed and students will take part in group discussions and case studies, peer teaching and sharing topical news items with the group.
Our students can enter national essay writing competitions and investment banking experiences. We will have external speakers visit the college alongside planned student visits including revision conferences at Hull University. We have visited Amazon and Arco over the last year and have plans to visit Siemens over the forthcoming academic year.
An overseas trip to New York is offered, specialising Economics, Business and Accounts. The trip will focus on the financial, economic and legal structures that make up the bustling city.
WHAT DOES THIS COURSE LEAD TO?
A Level Economics is a highly regarded course by universities and employers. A degree and career in Economics, International Business, Finance, Accounting, Banking, Investment or Marketing are options that many students choose. However, many students have career ambitions in other areas, and this highly respected course is often a key A Level for students of Politics, International Relations, History and Mathematics.
Whatever you career plans, this course will challenge and stimulate you, as well as prepare you for the future. It is also a course with one of the greatest monetary rewards. According to a recent survey conducted by The Guardian, graduates of Economics earn some of the highest salaries in the UK.
WHAT CAN I DO TO HELP PREPARE ME FOR THE COURSE?
Make sure that you follow Economics stories in the media. It is useful to read a quality newspaper (most are online) such as The Guardian, The Times and The Independent. They have very useful Economics and Business sections.
Social media is abundant with Economics news, in fact the news is Economics, you are surrounded by it.
As a quirky introduction to the subject, you could read the “Freakonomics” books by Levitt and Dubner.
To gain more information regarding the course syllabus, follow the link to the Edexcel website:
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