Economics
- _76E8411
Why study Economics?
If you study Economics at Bishop Challoner School you’ll be better informed, than the average person in the street, about the big issues, such as the ‘credit crunch’ and whether the recession will be a ‘double dip’ one. You’ll be encouraged to articulate your ideas and to distinguish between facts, bias and opinion. It will also give you more confidence in your personal finances because you’ll be more aware of the changing economic situation and how this affects your pocket.
Which syllabus do we follow?
We follow Edexcel specification for Economics
How many units are there?
There are four units in total: two at AS and two at A2
What is each unit about?
Unit 1
AS unit 1 is called ‘Competitive Markets: How They Work and Why They Fail.’ This unit introduces students to the study of economics. They consider what factors determine the demand, supply and price of goods, services and labour in a Market and start to come to explanations of why some markets fail. Students look at the ways that governments attempt to correct market failure and reasons why that often does not work.
Unit 2
AS unit 2 is called ‘Managing the Economy.’ Students look at how the performance of the economy can be measured and what kind of factors cause or constrain economic growth. They study the different macroeconomic objectives of governments and the instruments that can be used to put those objectives into practice and consider the ways in which macroeconomic policies and objectives might conflict.
Unit 3
A2 unit 3 is called ‘Business Economics and Economic Efficiency.’ Students study the role of firms within the market place. They look at such factors as revenue, cost, efficiency and profit. They investigate what determines the behaviour of firms, in particular the threat of competition and they examine the ways governments intervene in markets to maintain competition.
Unit 4
A2 unit 4 is entitled ‘The Global Economy.’ Students consider the causes and effects of globalisation. They will look at patterns of trade and the role of international institutions such as the World Trade organization. They will explore how international trade is recorded and financed. They will be encouraged to draw conclusions about the costs and benefits of globalization
How is each unit examined?
Unit 1 Students sit a one hour, 30 minute examination.
Unit 2 Students sit a 1 hour, 30 minute examination.
Unit 3 Students sit a 1 hour, 30 minute examination
Unit 4 Students sit a 2-hour examination.
When do the exams take place?
Students sit units 1 and 2 in June of the AS year. Students will sit units 3 and 4 in June of the A2 year.
Beyond A Level for Economics students
Economics is a well respected A level, which can be a springboard into many courses and careers. Typically, students who have studied Economics may go on to courses in Mathematics, International Relations and Law as well as Business, Finance or Economics related courses.
Any other information
A degree of mathematical competence is desirable to be successful in this subject. An interest in current affairs and a readiness to read the broadsheet newspapers regularly would also be helpful.
Textbooks AS/A2
Title - A Level Economics for Edexcel: A Level
Author - Alain Anderton
Web link - http://www.amazon.co.uk/Level-Economics-Edexcel-Level-Student/dp/1405892285/ref=sr_1_1?ie=UTF8&s=books&qid=1275405580&sr=1-1
Other Resources
Unit 1
http://www.amazon.co.uk/Edexcel-AS-Economics-Competitive-Markets/dp/0340947454/ref=pd_bxgy_b_img_b
Unit 2
http://www.amazon.co.uk/Edexcel-AS-Economics-Managing-Economy/dp/0340947985/ref=pd_bxgy_b_img_a
Unit 3
http://www.amazon.co.uk/Edexcel-A2-Economics-Business-Efficiency/dp/0340958162/ref=pd_bxgy_b_img_c
Unit 4
http://www.amazon.co.uk/Edexcel-A2-Economics-Economy-Student/dp/0340958154/ref=pd_bxgy_b_img_b
Websites & other resources
Economics Review
http://www.philipallan.co.uk/economicreview/index.htm
Economics Help
http://www.economicshelp.org/
Economics Network
http://www.economicsnetwork.ac.uk/teaching/text.htm
Tutor 4 u
http://tutor2u.net/