One of the most popular subjects in the UK education system, economics develops student skills in terms of analysing, interpreting and evaluating real life scenarios. It is a numerically and logically challenging discipline and as such is widely respected by universities. Economics explores the best way for countries, businesses and people to make the most of their resources. It is therefore useful for anyone interested in the world of finance.
We would expect a grade 5/6 or above in GCSE Business or Economics along with a good standard of both Mathematics and English. A willingness to read quality broadsheet newspapers and an awareness of the wider world would be beneficial. Economics requires a highly logical and disciplined approach to study. Success is brought about by a high level of organisation and a focus on revision of key topics from a very early start.
Key Economics questions to be asked will include the following:
1. Why do the prices of many goods change so much?
2. How do governments manage their economies?
3. Why are many companies such as supermarkets criticised for being so large?
4. Why are some countries rich and others poor?
5. How do exchange rates affect the economy?
Exam Board: Edexcel (Full title: Pearson Edexcel Level 3 A-level GCE in Economics (9ECO)
|AS Level (1 year course)|
|Year 1 (AS Qualification) |
Theme 1: Introduction to Markets and Market Failure
Theme 2: The UK Economy – Performance and Policies
Paper 1: Theme 1 Multiple choice and short answer questions. Data response question and open ended response. (1.5 hours).
Paper 2: Theme 2 Multiple choice and short answer questions. Data response question and open ended response. (1.5 hours).
|A Level – (2 year course)|
| Year 2 (A Level Qualification) |
Theme 3: Business Behaviour and the Labour Market
Theme 4: A Global Perspective
A Level Examinations
Paper 1: Themes 1& 3 Multiple choice and short answer questions. Data response question and open ended response. (2 hours) .
Paper 2: Themes 2 & 4 Multiple choice and short answer questions. Data response question and open ended response. (2 hours).
Paper 3: Themes 1, 2, 3 & 4 Two data response questions plus an open ended response. (2 hours).
Where does it lead?
Most professions appreciate that you need a background in how the world of finance works. This is especially true in the jobs relating to government, banking, insurance and education. It’s a generalist subject and as such can be applied in just about every conceivable industry. Economics is a respected academic discipline and can also lead to careers in media, journalism, management, consultancy and many other lucrative fields.
Economics : 5th Edition : A. Anderton (ISBN : 978-1-40589-228-5) (Pub : Edexcel)
Newspapers / Magazines
Economics Today Magazine, Published by Economics Today Limited (01661) 844000
These provide useful data for the UK economy.
This website provides details of monetary policy and has some good videos to watch on line.
This is a good source of current information.
These are additional resources for free revision material.