Economics A Level

Economics is at its core a human science, concerned with human behaviour at the level of the individual to the level of society. Many economists call the subject “the study of choice” or “the study of decisions”.

Economics tries to answer many everyday questions: Why do you have to pay tuition fees for university? To what extent do consumers benefit from globalisation? Why did Apple launch their own music streaming service? Why do footballers earn more than firefighters? Why are some countries poorer than others? Why has the UK government introduced VAT on private school fees?

It’s a great subject for those with questioning minds, curious about what goes on around them.

Economics is the right subject for you if you enjoy:

debating economic issues such as inequality, immigration and how we should pay for healthcare
using and interpreting data to analyse economic problems
discussing alternative courses of action
keeping up to date with national and international trends.

Author and journalist Allister Heath says “Economics is the most powerful of the social sciences. Its principles provide us with unparalleled analytical tools to interpret the world around us and to shine a light on all of the great challenges that face humanity – how to grow economies, tackle unemployment, grapple with environmental issues, reduce crime and even understand demographic change. If you are interested in current affairs, politics, history, business or finance, you must study economics.”

What do A level Economics students think?

Studying economics in the sixth form stretches your mind and forces you to think laterally about a range of interesting and topical problems.

Studying economics in the sixth form gives you a powerful insight into the fundamental mechanisms upon which the world operates.

Studying economics in the sixth form will not only ensure you stay up-to-date with current affairs; you will also develop the facilities to critically analyse a range of issues in finance, business and politics.

Economics complements most subjects such as Mathematics, Languages, Geography, Politics and History. It would suit students who are more comfortable with a theory-based, analytical subject.

Pupils are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and to develop an ability to think as an economist. At Royal Russell, students run the Economics Society where topical issues are hotly debated and discussed. There are opportunities to write articles on topics of their choice for the school’s Politics, Economics and Business magazines. They also enter essay competitions such as the one by the Royal Economics Society in conjunction with the Financial Times, and attend conferences. Moreover, students have access to The Economist and are encouraged to sign up to receive free access to the Financial Times to aid their wider reading.

Course Content and Assessments

In Theme 1, you will learn about the microeconomic nature of economics, looking at economic problems and the ways economists think and work.
In Theme 2, you will learn the key measures of economic performance and the main instruments of economic policy primarily in a UK context.
In Theme 3, you will learn how businesses compete and set prices, how the job market works and how competition can be encouraged.
In Theme 4, you will learn about globalisation and international trade, how economies develop, financial markets and the public finances.

Paper 1

Markets and Business Behaviour

A written exam featuring multiple-choice and short-answer questions, one data response question broken down into a number of parts and a choice of extended open-response questions.

Paper 1 will assess from Themes 1 and 3.

Duration of 120 minutes
35% of A Level

Paper 2

The National and Global Economy

A written exam featuring multiple-choice and short-answer questions, one data response question broken down into a number of parts and a choice of extended open-response questions.

Paper 2 will assess from Themes 2 and 4.

Duration of 120 minutes
35% of A Level

Paper 3

Microeconomics and Macroeconomics

Two data response questions broken down into a number of parts and a choice of extended open-response questions.

Paper 3 will assess all 4 Themes.

Duration of 120 minutes
30% of A Level

Looking Further Ahead

Economics provides an invaluable insight into how the mechanics of the UK and other economies operate. Most areas of finance, accountancy, general management and consultancy require the study of economics at some point. Work as an economist for the Government, Bank of England or investment banks are other possible career opportunities. You could end up at the forefront of economic policy, financial analysis, and strategic decision-making, contributing to economic growth on a global scale. An economics education paves the way for impactful careers, where you can be a part of shaping economic landscapes and addressing contemporary challenges.

Universities tend to expect students applying to read Economics to have an A level or equivalent qualification in Mathematics.

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