Economics

Minimum Entry Criteria

Desired: 7 in Maths and/or 6 in English Language

Essential: 6 in Maths and/or 6 in English Language

Board

Edexcel

Outline of the Course

  • Unit 1: Introduction to markets and market failure
  • This unit focuses on microeconomic concepts. Students will develop an understanding of nature of economics; how markets work; market failure; government intervention.
  • Unit 2: The UK economy – performance and policies
  • This unit focuses on macroeconomic concepts. Students will develop an understanding of measures of economic performance; aggregate demand; aggregate supply; national income; economic growth; macroeconomic objectives and policy.
  • Unit 3: Business behaviour and the labour market
  • This unit develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of business growth; business objectives; revenues, costs and profits; market structures; labour market; government intervention.
  • Unit 4: A global perspective
  • This unit develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of international economics; poverty and inequality; emerging and developing economies; the financial sector; role of the state in the macroeconomy.

Assessment

 

Type of Assessment

Duration

Weighting

1

Markets and Business Behaviour: questions will be drawn from Units 1 and 3

2 hours, 100 marks

35%

2

The National and Global Economy: questions will be drawn from Units 2 and 4

2 hours, 100 marks

35%

3

Microeconomics and Macroeconomics: questions will assess content across all four units

2 hours, 100 marks

30%

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