Economics
Economics is at the forefront of the news and central to national concerns, covering issues such as the cost of living, employment prospects, energy prices, inflation and housing. It is about choice and how our choices impact each other, touching every aspect of our lives. Economics is divided into microeconomics and macroeconomics. The first year introduces the language, theory and concepts of economics, while the second year focuses on critical analysis, developing well-rounded knowledge and writing skills for a strong start in higher education.
Course content
The course is structured around two main areas. Microeconomics (Individuals, Firms, Markets and Market Failure) covers economic methodology and the economic problem, individual economic decision-making, price determination in competitive markets, production, costs and revenue, perfect and imperfect competition and monopoly, labour markets, the distribution of income and wealth, and market failure and government intervention. Macroeconomics (The National and International Economy) covers the measurement of macroeconomic performance, how the macroeconomy works, economic performance, financial markets and monetary policy, fiscal and supply-side policies, and the international economy.
Entry requirements and skills
Students need to apply logical analysis and evaluation to their work. The ability to interpret data is part of the skill set of an economist, so competency in handling statistical information is assessed; a Grade 6 or higher in GCSE Maths will suffice.
Assessment
The course is examined at the end of the two-year course in three written papers, each 2 hours long and worth 33% of the final marks. Paper 1 covers Markets and Market Failure, Paper 2 covers the National and International Economy, and Paper 3 covers Economic Principles and Issues.
Enrichment
- Year 12 students are given the opportunity to enter the annual IEA Budget Challenge run by the IEA and the University of Buckingham.
- Staff-run clinics help students develop their essay writing skills in Micro and Macro Economics.
- Our Sixth Form students edit an economics and business magazine.
- Students are invited to attend lectures and talks in London such as Polecon.
Future pathways
Economics is excellent preparation for almost any university course and a wide range of graduate jobs. Graduate roles in the subject are highly sought after and typically command good starting salaries.
A Level Economics FAQs
What exam board is A Level Economics?
The course follows the AQA Economics specification (7136).
What are the entry requirements for A Level Economics?
Students need to be able to apply logical analysis and evaluation, and to handle statistical information. A Grade 6 or higher in GCSE Maths will suffice for the data-handling element of the course.
What topics are covered in A Level Economics?
The course is divided into microeconomics (markets, market failure, competition, labour markets and government intervention) and macroeconomics (macroeconomic performance, monetary and fiscal policy, financial markets and the international economy).
How is A Level Economics assessed?
The course is examined at the end of the two-year course through three written papers, each 2 hours long and worth 33% of the final marks: Paper 1 (Markets and Market Failure), Paper 2 (National and International Economy) and Paper 3 (Economic Principles and Issues).
What enrichment opportunities are there in Economics?
Students enter essay competitions and the IEA Budget Challenge, where Lingfield students have been finalists twice and winners in 2024. They also attend external lectures and conferences hosted with other schools.
What can A Level Economics lead to?
Economics is excellent preparation for almost any university course and a wide range of graduate jobs, which are highly sought after and typically command good starting salaries.