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  • Key Stage 4

    GCSE Economics

    Why study economics?
    Economics is about the world around us; it’s current; it’s about the modern world; it’s about how we behave, how businesses behave and how the government behaves. Following a course in economics gives students an introduction into the issues that affect our lives, from the prices of goods and services to the role of government, the European Union and how the UK works with the rest of the world. Economics encourages students to think deeply and differently about issues which have a clear impact on everyday life.
    What areas would you study?
    Starting with firms such as Sony, Toyota and Microsoft you will look at how firms organise themselves to meet the unlimited desires of customers. You will look at how firms compete with each other using real examples that you see around you, and understand why prices are set to get you to spend your money. You will then look at the United Kingdom and how our economy works, looking at issues such as recession and unemployment. Finally you will investigate how the UK is part of a global economy and how issues such as poverty, politics and corruption affect our world.
    How do you learn?
    You will, of course, have a comprehensive set of notes and online material to help you as you study economics, but the most important skill to bring to the class is a desire to find out about the world around you. We will look at local, national and international issues using project work, reports, independent learning and other opportunities to see economics in action.
    How are you assessed?
    The course will be assessed entirely through examinations at the end of Year 11.
    Where will this take me post 16?
    You do not have to study economics as a KS4 option in order to follow it at A-level, and most university courses in economics do not specify that you need to have taken the subject at A-level. However, a course in economics gives you a good grounding in research and analytical skills together with an understanding of current affairs, politics, and history. It is a growth subject for schools at both GCSE and A-level because it helps develop awareness of the world around you, and is highly regarded by universities and employers.
  • Sixth Form

    A-level Economics

    Examination Board: AQA

    Introduction and Structure

    GCE economics looks at the fundamental forces which affect our lives, such as employment, prices, international trade and poverty. Economists are often in healthy debate with each other over these issues. It is this controversy which makes economics lively and interesting and which allows candidates the opportunity to make their own judgements and form their own opinions. The course is structured according to four units.

    Year 12

    Markets and Market Failure

    Whilst studying this area you will cover topics such as the economic problem and economic methodology; price determination in a competitive market; production, costs and revenue; competitive and concentrated markets; the market mechanism, market failure and government intervention in markets

    The National Economy

    Whilst studying this area you will cover topics like measurement of macro-economic performance; how the macro economy works; the circular flow of income, aggregate demand / aggregate supply analysis and related concepts; macro-economic performance and macro-economic policy

    Year 13

    Individuals, firms, markets and market failure

    This area introduces you to topics such as individual economic decision making, production, costs and revenue, perfect competition, imperfectly competitive markets and monopoly; the labour market; distribution of wealth and income; poverty and inequality and the market mechanism, market failure and government intervention in markets.

    The national and international economy

    Whilst studying this area you will cover topics such as financial markets and monetary policy, fiscal policy and government spending, and the international economy and globalisation.


    Three two hour written examinations, each worth one third of the full A-level.

    • Paper 1: markets and market failure
    • Paper 2:  national and international economy
    • Paper 3: material from the whole course

    Careers and Progression

    Having studied economics possible career options include accountancy, stockbroker, banker and online financial and business-related careers. However, most require a higher level of education. A-level economics can lead to degrees in economics, business studies, social sciences and engineering.

    Entrance Requirements

    Minimum requirement: 6 GCSEs Grades 9-4 (or equivalent), including Grade 4 or above in English and maths

    Strongly recommended: Grade 5 in maths

    Recommended: Grade 5 in economics

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