Economics
Entry criteria
7 in Mathematics and 6 in English Language
Board
Edexcel
Outline of the Course
AS Level:
Theme 1 – Markets, consumers and firms.
- Scarcity, choice and potential conflicts, enterprise, business and the economy, introducing the market, the role of credit in the economy, market failure and government intervention, revenue, costs, profits and cash.
Theme 2 – The wider economic environment.
- Business growth and competitive advantage, firms, consumers and elasticity of demand, productive efficiency, life in a global economy, the economic cycle, introduction to macroeconomic policy.
A2 Level:
Theme 3 – The global economy (this theme develops the concepts introduced in Theme 2).
- Globalisation, economic factors in business expansion, impact of globalisation on global companies, impact of globalisation on local and national economies, global labour markets, inequality and redistribution.
Theme 4 – Global business (this theme develops the concepts introduced in Theme 1).
- Competition and market power, market power and market failure, market failure across the economy, macroeconomic policies and impact on firms and individuals, risk and the financial sector.
Assessment
|
Paper |
Type of assessment |
Duration |
Weighting |
|
|
AS Paper 1 |
Examination on Theme 1 – Markets, consumers and firms. Data response questions and one extended open response question. |
1.5 hours, 80 marks |
50% of AS |
|
|
AS Paper 2 |
Examination on Theme 2 – The UK wider economic environment. Data response questions and one extended open response question. |
1.5 hours, 80 marks |
50% of AS |
|
|
A2 Paper 1 |
Examination on Themes 1 & 4 – Markets and how they work. Data response questions and two extended open response questions. |
2 hours, 100 marks |
|
35% of A2 |
|
A2 Paper 2 |
Examination on Themes 2 & 3 – Competing in the global economy. Data response questions and two extended open response questions. |
2 hours, 100 marks |
|
35% of A2 |
|
A2 Paper 3 |
Examination on Themes 1-4 (synoptic paper), based on a pre-released case study – The economic environment and business. Data response questions and two extended open response questions. |
2 hours, 100 marks |
|
30% of A2 |