Economics - A Level
Economics is a challenging, relevant and stimulating field of study concerned with examining and analysing the production, distribution and consumption of goods and services. Economics as a subject is broken into two parts: ‘micro-economics’ is the study of transactions between consumers and producers and its affect on ‘third parties’ such as local communities and the environment; ‘macro-economics’ is the study of whole economies, looking at how income circulates through transactions to create jobs and generate international trade. Modern economics will enable you to make sense of ‘local’ issues such as UK inflation, unemployment, interest rates, the exchange rate and the housing market, as well as ‘global’ issues like economic development, trade and globalisation itself. Economics is very popular subject at Lansdowne with excellent success rates. It is a vital A Level for anyone wishing to pursue a career in Finance, Banking, Accounting or Management.
What will I study in Economics?
AS Units 1 and 2
Markets: How They Work and Why They Fail. This unit provides you with an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. Through the study of real life case studies you will also analyse the causes of market failure and potential policy remedies for such failure.
Managing the Economy: This unit provides you with an introduction to the key measures of economic performance and the main objectives and instruments of economic policy. You will examine why supply and/or demand side policies may be appropriate ways of managing an economy and predict the possible impact of these policies.
A2 Units 3 and 4
Business Economics & Economic Efficiency: This unit develops the content of unit 1 and allows you to examine how the pricing and nature of competition between firms is affected by the number and size of market participants. By examining real world case studies you will learn to analyse the pricing and output decisions of firms in different contexts, and look at how the government intervenes to promote competitive markets.
The Global Economy: This unit develops your knowledge and skills gained in unit 2 so that you can apply them in a global context. The application, analysis and evaluation of economic models is required, as well as an ability to assess policies which might be used to deal with economic problems. You will make an in depth study of trends and developments in the global economy over the past 10 years.
How will I be assessed?
2 exams in the AS year and 2 in the A2. Assessment is based around multiple-choice and data response questions, and essays in the more advanced units.
Do I need to have studied Economics before?
You do not need to have studied Economics at GCSE Level; however, it is important that you have an interest in economic and business affairs.
Who will teach me?
Richard Howarth is a graduate of the University of Birmingham (Economics) and has a PGCE from London University. He has taught and examined Economics for more than 15 years. Richard is also Head of the Business and Mathematical Sciences Department.
Ciara McPolin joined Lansdowne in 2011 having worked as a professional accountant for several years before completing her PGCE. She brings industry experience and has a particular interest in UK and European economics.
Amjad Ali Khan is an experienced tutor who holds an MSc from the London School of Economics. He has a lot of experience in teaching both Economics and Business Studies. In the past he had a successful stint in the City and still follows the markets with interest.
What subjects complement Economics?
Best-fit subjects for Economics include Mathematics, Law, Accounting, Business Studies, History and Government and Politics. Be advised that A Level Economics does require a reasonable ability at maths.
What careers can Economics lead to?
A good grade in Economics at A level is highly valued by universities and employers because it requires the student to develop a high level of critical thinking and analytical skills. Potential careers including banking, finance, accounting, financial journalism, and private or public sector economist.