A Level Course Listing


Economics is a lively, topical, current affairs related subject, which is highly regarded as a respectable academic discipline. It provides a unique mix of the arts and the sciences and combines the skills of numerical and graphical analysis with concise communication and logic. It is difficult to imagine a career that does not require at least an awareness of Economics.

This rich and stimulating subject attempts to explain just how the precious resources of the planet are allocated – put against the increased need to conserve resources and promote sustainable means of achieving economic development.

What is Economics?

Economics is the theoretical and applied study of how scarce resources are allocated within an economy. It seeks to answer three key questions:

What to produce? How to produce? For whom to produce?

What will you study?

As an Economics student you will study such issues as: inflation and deflation; recessions and booms; the effect of share prices and house prices on the economy; the challenges of tackling poverty through trade or aid; how the tax and benefit system can be reformed to manage the economy; how government policy can target climate change and many more topics which ought to be of interest to any well-informed and concerned 16 – 18 year old.

Course Outline

Examination board: AQA 7136

Entry Requirements

At least a grade 6 at GCSE (Economics, if studied) or at least a 7 in Maths.

What is the structure of the course?

Individuals, firms, markets, and market failure.

i. Economic methodology and the economic problem

ii. Individual economic decision making

iii. Price determination in a competitive market

iv. Production, costs and revenue

v. Perfect competition, imperfectly competitive markets and monopoly

vi. The labour market

vii. The distribution of income and wealth: poverty and inequality

viii. The market mechanism, market failure and government intervention in markets

The national and international economy.

ix. The measurement of macroeconomic performance

x. How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts

xi. Economic performance

xii. Financial markets and monetary policy

xiii. Fiscal policy and supply-side policies

xiv. The international economy

How is it assessed?

There are three written papers that require responses to data extracts (quantitative and qualitative) and open-ended extended response (essay) questions. The third paper includes 30 multiple-choice questions from across the specification and a compulsory data response element.

Paper 1: Markets and market failure

Paper 2: National and international economy

Paper 3: Economic principles and issues

How good do you need to be at Maths?

At A Level the Maths involved does not go beyond simple quantitative analysis such as percentage change, the use of index numbers and diagrammatic interpretation of case study data. Students who may be interested in studying Economics at university should note, however, that many of the top universities require A Level Maths to have been taken.

What subjects are usually studied alongside Economics?

A huge range. We tend to overlap heavily with both the ‘Natural’ and ‘Social’ Scientists as well as the Humanities. For example:

History, Politics, EPT, Economics

Maths, Physics, Chemistry, Economics

Geography, Foreign Language, Psychology, Economics