Economics aims to provide students with an understanding of key economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life. The key issue is how to allocate scarce resources. The syllabus requires the study of both UK and International economies and policies adopted by governments to meet the key macroeconomic objectives. In today’s current climate this course provides students with the understanding required to analyse and evaluate the decisions of businesses and governments to gain a critical understanding of how businesses and the economy operate. In doing this, students will be required to apply the concepts and theories in a range of different contexts.
Exam board: Edexcel Specification A Economics
Exams:
Paper 1 – Markets and business behaviour
Paper 2 – The national and global economy
Paper 3 – Microeconomics and macroeconomics
Summary:
Autumn
Spring
Summer
Theme 1:Introduction to markets and market failure. Students will develop an understanding of:
nature of economics
Theme 2:The UK economy-performance and policies. Students will develop an understanding of:
measures of economic performance
aggregate demand
Theme 1:Introduction to markets and market failure. Students will develop an understanding of:
how markets work
market failure
Theme 2:The UK economy-performance and policies. Students will develop an understanding of:
aggregate supply
national income
Theme 1:Introduction to markets and market failure. Students will develop an understanding of:
government intervention.
Theme 2:The UK economy-performance and policies. Students will develop an understanding of:
economic growth
macroeconomic objectives and policy
Summary:
Autumn
Spring
Summer
Theme 3: Business behaviour and labour market. Students will develop an understanding of:
business growth
business objectives
revenues, costs and profits
Theme 4: A global perspective. Students will develop an understanding of:
international economics
poverty and inequality
emerging and developing economies
Theme 3: Business behaviour and labour market. Students will develop an understanding of:
market structures
labour market
government intervention.
Theme 4: A global perspective. Students will develop an understanding of:
the financial sector
role of the state in the macroeconomy
The summer term has heavy emphasis based on all 4 theme for unit 3
