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ECONOMICS AQA

A knowledge of Economics will give you an insight into the changing world economy and an understanding of some of the impacts of these changes. Studying Economics helps you to understand what is happening now in our economy and in other economies and why some decisions are made and the effects of these.

Year 12
Unit 1 – Markets and Market Failure
This is an introduction to microeconomics and includes looking at how resources are allocated in an economy, the market mechanism and why health care and education are financed by the government.
Unit 2 – The National Economy
This unit introduces macroeconomics and looks at how the economy works, the objectives of government policy and the ways in which the government try to achieve their objectives.

Year 13
Unit 3 – Business Economics and the Distribution of Income
This unit builds on the knowledge and skills developed in Unit 1 and includes studying types of business organisations, the labour market, wages and cost benefit analysis.

Unit 4 – The National and International Economy
This develops work in Unit 2 and looks at issues in a wider context by studying the EU and international trade. Developments in the economy over the past 10 years will be studied.

A range of assessment methods are used in the examinations. Units 1 and 2 include objective test questions and data response questions. Units 3 and 4 include both data response and essay questions.

Teaching and Learning
A range of teaching and learning styles are used. These include: discussions, group work, note taking and individual research. Guidance on reading to develop understanding is given.

Entry Requirements
As well as having higher GCSE grades in Maths and English you must be interested in what is happening in the UK economy and be prepared to keep up to date with economic events by reading newspapers and watching the News.