To provide a strong grounding in both microeconomics and macroeconomics drawing on local, national and global contexts. To develop the basic knowledge and understanding of the essential aspects of economic theory and concepts. To develop an enquiring, critical and thoughtful approach to the study of economics and gain an ability to think as an economist.
What will I study?
All girls will have the opportunity to take AS and A2 in this subject.
‘Economics is the study of the use of limited resources to produce the goods and services to satisfy the unlimited wants of mankind’. This basic theory has a vast amount of applications to everyday decisions that are made by consumers and firms as well as crucial political decisions.
The OCR Economics Specification will enable you to explain, analyse and evaluate the strengths and weaknesses of the market economy, and the role of the government within a market economy. You will study the role of competition within the marketplace and how this impacts upon economic efficiencies. You will evaluate the economic policy objectives and the indicators of macroeconomic performance, for example: economic growth, unemployment and inflation.
How will I be assessed?
There is simple straightforward assessment with no coursework and a balanced set of short, medium and extended response questions including multi-choice questions. There are two papers at AS one for microeconomics and the other macroeconomics.
At A Level the assessment is made up of three mandatory components: focusing on microeconomics, macroeconomics and themes in economics. The latter offers an exciting opportunity for students to apply theories and concepts to current contexts.
The course involves much discussion, together with analysis of data, interpretation of statistical information and essay writing. Students who would profit most are those who have the diligence necessary to understand the theories and terminology of a subject not previously studied, together with a willingness to contribute to the many lively class discussions. There is an element of quantitative data in both content and examinations and so, while Mathematics A Level is not required, good numeracy skills are an advantage.
How will I study?
By working independently, occasionally in groups, and by taking an active part in class discussion. The dynamic nature of the subject requires a willingness to take an active interest in current affairs, making use of a wide range of economic material in newspapers, journals, television and radio.
An integral part of the A2 course is participation in the prestigious national Target 2.0 Economics Competition.
Where will it lead?
Economics is regarded as a sound base from which to proceed to more or less any degree and is also highly respected as a starting point for many professions/careers.
“My AS level subjects include Mathematics, Further Mathematics, Economics and Chemistry. I would like to study Economics at university: I believe that it is a fascinating subject and, in today's world, extremely relevant in every field. Learning about the workings of our economy helps me to understand Government policies implemented to enhance performance and their long term effects. Taking part in the Young Enterprise competition helped me develop an understanding of how businesses work, allowing me to apply the theories I learned in lessons. I would recommend the subject to anyone who has an interest in current affairs and business, or simply a desire to develop a financial awareness.”