Economics helps you understand how we need to make the best possible use of the world’s scarce resources. It plays a big part in politics and society and will help you understand the decisions made by individuals, businesses and governments. You study how the UK and international economies work and the implications of government decisions. You will also study the psychology behind individual decision making. Economics will improve your analytical, evaluative and critical thinking skills and is a subject which is well respected by universities.
Students studying three A Levels will be expected to have a minimum of two GCSEs at grade 6 and three GCSEs at grade 5/4, including English Language and Mathematics at grade 5/4 or above. Or eight GCSEs at a minimum of grade 5.
Features of the Course
Economics has two major components:
Microeconomics looks at decisions that affect individuals such as how much they earn and how they choose to spend it. We examine individual markets such as the labour market, the market for oil or the market for soft drinks; we look into how these markets sometimes fail and the reasons why governments intervene with policies such as taxes, subsidies and legislation.
Macroeconomics looks at what governments can do to help generate more money in the economy, to reduce the number of people unemployed and to encourage international trade and we will look at the policies and tools the government can use to support the economy such as fiscal policy and monetary policy.
Examples of the topics covered include:
• Should Raheem Stirling be allowed to earn £200,000 per week whilst the poor in developing countries often live on less than $1 per day? And, why do pilots earn more than teachers?
• Should the high-speed train link between the South and the North go ahead or could the money be better spent on other things such as education and healthcare?
• Should the government raise the tax on petrol to help cut pollution and global warming or should it reduce the tax to lessen the burden of the cost of petrol on households?
• Is globalisation good for the UK?
• Why is child poverty on the increase in the UK and should the government increase or reduce taxes on the rich?
• How can the government keep the economy on track whilst paying off the debts it has accrued owing to Covid?
• Should the Bank of England be raising interest rates in order to curb high and rising inflation?
All assessment is completed via examination at the end of the second year. There are three exams of two hours each and the format is a combination of multiple choice, data response and extended written question.
Exam Board: AQA
Enrichment and Work Experience
There are opportunities to go on various trips and visits in order to gain a deeper understanding of the world in which we live. Enrichment activities that have previously taken place include:
• Trip to the University of Manchester. Experience a lecture and meet the Economics department and link to their access programme
• Trip to the Iraqi Consulate
• Trip to Jaguar Land Rover
• Guest speakers e.g. Deloitte, Bank of England, local Labour MP
• National essay writing competitions
A high standard of mathematics is required to study Economics at university. Therefore, students studying A Level Economics without A Level Mathematics will study Core Mathematics to support them in this area.
Follow us on social media: Twitter – @boltonEconomics, Instagram – b6_economics
“If all economists were laid end to end, they would still not reach a conclusion”, George Bernard Shaw. Economics offers a new way of thinking, you will see the world in a different way!
Links With Other Subjects
Economics can be studied with many other subjects and goes particularly well with Politics, History, Mathematics, Accounting, Business, Geography, Law, Psychology and Computer Science.
Future Career Opportunities
Economics can lead to a variety careers in: financial or management consultancy, investment banking, accounting, the legal profession, retail, distribution, politics and local government as well as journalism. Economics graduates are, on average amongst the highest income earners nationally.
Why study at The Sixth Form Bolton?
You will receive a high quality learning experience in A Level Economics and results are consistently excellent. Students who succeed on this course have gone onto study it in some form at university, including Cambridge and Oxford and have also been part of The Sixth Form’s Honours Programme. In addition, you can expect: additional tutorials and 1:1s, interactive engaging varied lessons, homework is never boring and likely to feature a little Netflix now and again.
A Level Economics is regarded as a highly academic subject and is well respected by employers and universities alike. We have excellent links with prestigious universities and progression rates to higher education are high.