AS/A Level Economics

Economics is not simply all about numbers. It is the study of the world around us from a social, financial and cultural perspective, economics has never been as important or relevant than it is now, due to rapid advances in technologies and as the world learns how to operate post Covid.

Whilst studying A Level economics, you will cover a range of economic principles that will allow you to apply economic theory to support analysis of current economic problems and issues, and encourage you to appreciate the interrelationships between microeconomics and macroeconomics.

You will develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. You will also build upon your quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important.

Topics Covered

• Economic methodology and the economic problem
• Individual economic decision making
• Price determination in a competitive market
• Production, costs and revenue
• Perfect competition, imperfectly competitive markets, monopoly, labour market
• The distribution of income and wealth: poverty and inequality
• The market mechanism, market failure and government intervention in markets, the national and international economy
• The measurement of macroeconomic performance
• How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
• Economic performance
• Financial markets and monetary policy
• Fiscal policy and supply-side policies
• The international economy