Economics KS5

Students have the opportunity to study A-Level Economics at Key Stage 5. Economics is the study of people, businesses and governments, the choices and decisions they make. Economics can help answer questions like: What's the impact on the global economy of China's superpower? Why do nurses and fire fighters earn such low wages? Why is education free? Why do so many businesses keep going bankrupt recently? Why do you pay so much for popcorn at the cinema when it's so cheap in supermarkets? Why are interest rates at their lowest ever level? Is Government debt a problem?

 

Key Stage 5 (Years 12 and 13)

We currently follow the AQA A-Level Economics syllabus. This is a two year course. In the first year, in Microeconomics students will study how markets operate, why they fail, and why the government intervenes. In Macroeconomics students will study how the UK economy works, analyse economic performance and government policy. In the second year students will study market structures, the labour market and the distribution of income and wealth. In Macroeconomics students will study financial markets and international markets.
Students have seven lessons a week during the first year and six lessons a week in the second year. They are co-taught by two teachers who share responsibility preparing students for their examinations over the two year course. 

Further Information
Entry Requirements

Level 6 in GCSE Mathematics, Level 6 in GCSE English Language, and a Level 6/ grade B in GCSE English Literature, Geography or History

 

AS Assessment

The AS becomes a stand-alone qualification, which doesn't contribute to the A-level grade. AS level assessment is by two one-and-a-half hour written exams at the end of the AS course. Each exam is worth 50% of the AS qualification.

Each paper consists of:-
Section A: 20 multiple choice questions
Section B: data response questions requiring written answers, choice of one from two contexts.
Paper 1: The operation of markets and market failure
Paper 2: The national economy in a global context


A Level Assessment
A-level assessment is by three two hour written exams at the end of the two year course, each exam is worth 33% of the A-level qualification.

Paper 1: Markets and market failure
Section A: data response questions requiring written answers, choice of one from two contexts. Section B: essay questions requiring written answers, choice of one from three.

Paper 2: National and international economy
Section A: data response questions requiring written answers, choice of one from two contexts. Section B: essay questions requiring written answers, choice of one from three.

Paper 3: Economic principles and issues
Section A: multiple choice questions.
Section B: case study questions requiring written answers.

Career Value 
Economics is a highly valued academic A level at university. It complements the study of Maths and Physics due to the application of logic to theories vs. the reality in terms of economic decisions. History and Government and Politics also complement Economics in terms of learning of the Great Depression and the understanding of the political spectrum when the government make decisions. Geography and Languages also complement the subject when studying globalisation and development economics. Finally Business complements Economics when students assess the economic environment affecting business decisions. Economics students go on to have careers as stockbrokers, accountants, lawyers, business analysts and journalists.