Economics

Challenging but always interesting, dynamic and fun! It helps me to understand the wider issues in the news and gain greater awareness of current economic topics – even including Brexit!

Economics is an excellent subject to study at A level, as it will provide a grounding in academic knowledge that will help in a wide range of careers. The skills you will develop in economics are generic and transferable skills that will help you to analyse and evaluate given circumstances. Data response cases help students to use data, to analyse or evaluate the consequences of a set of figures, and to devise strategies that will help to address problems. Gathering research and presenting materials to others is also a key part of what we do in lessons and these researching and communicating skills are increasingly important in so many careers. Teamwork is also a skill we strive to develop, as much of what we do is collaborative. Economics qualifications are always highly valued as they help us to make sense of a subject that is happening in the ‘real world’ around us and knowledge can be used in so many wider contexts. Many of our students choose to combine studying business and economics as they complement one another well and are taught as two separate A levels.

Studying economics may lead into a range of careers including marketing, media and/or advertising, banking/merchant banking, accountancy/auditing, human resource management/recruitment, economist in private or public sector, land management, law, stockbroking, corporate public relations and even teaching!

A LEVEL CURRICULUM OUTLINE

OCR A level Economics

A level Economics has traditionally been one of the most popular A level choices at Tettenhall College. The course is designed to prepare learners for both academic study (by looking at the theoretical aspects of economics) but at the same time, it is delivered in a fun and engaging way so that pupil interest is maintained. At Tettenhall College, we believe that Sixth Form study should provide a bridge between traditional study and preparation for university or employment. In Economics, this means that there will be a high expectation that learners will be fully engaged in researching and delivering materials themselves. This helps to encourage a culture of responsibility for learning and it also develops organisational skills and ownership. We use a variety of interesting and interactive teaching and learning techniques to provide learners with a range of opportunities to enhance their own experience. Pupils currently have 5 x 1 hour lessons and are usually taught by 2 members of the department.

 

What is learned?

The course covers a wide variety of material assessed across three examination papers. Topics include extensive coverage of micro and macroeconomics. In microeconomics, we study how markets help to allocate resources, different economic systems, demand and supply, how markets fail and the necessary government interventions may help to correct these failures.

In macroeconomics, we study economic growth, inflation, unemployment, balance of payments and exchange rates. Theory of the firm, labour markets, development, globalisation, financial markets and their regulation are also studied in Year 2.

Component 1 – Microeconomics

Section A contains data response questions based on stimulus materials provided in the examination. 30 marks available.

Section B contains a choice of two essay questions. Leaners complete one from two questions, worth 25 marks.

Section C contains a choice of two essay questions. Learners complete one from two questions, worth 25 marks.

 

Component 2 – Macroeconomics

Section A contains data response questions based on stimulus materials provided in the examination. 30 marks available.

Section B contains a choice of two essay questions. Leaners complete one from two questions, worth 25 marks.

Section C contains a choice of two essay questions. Learners complete one from two questions, worth 25 marks.

 

Component 3 – Themes in economics

Section A contains 30 multiple-choice questions.

Section B contains data response questions based on any area of the specification and is designed to text candidates’ knowledge of current economic themes or topics. It is worth 50 marks.

All three components are assessed by a two-hour written examination.

ENRICHMENT OPPORTUNITIES/ FIELD TRIPS

The department has traditionally arranged an overseas Sixth-form overseas trip to view a range of businesses operations and to look at how different economic systems operate. Previous destinations have included Berlin, Prague, Barcelona, Budapest and Brussels. These trips have appealed to both business and economics students who have gained from seeing how businesses and economies operate in reality.

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