Economics

Entry criteria

A in Mathematics and a B in English

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