THE ECCLESBOURNE SCHOOL

A Level

Exam Board: Edexcel

Contact: Mrs K. Taylor

Course Overview

Economics B is structured into four themes and consists of 3 externally examined papers. Students are introduced to economics through knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real world businesses and the environments in which they operate. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessment and demonstrate an awareness of current economic events and policies.

Example of topics in themes:

Theme 1: Markets, consumers and firms. Scarcity, choice and potential conflicts. Enterprise, business and the economy. Introducing the concept of the market; supply; demand; equilibrium.

Theme 2: The wider economic environment. The economic cycle. Introduction to the main macroeconomic objectives such as growth, low prices, high employment. Introduction to macroeconomic policy.

Theme 3: The global economy. Globalisation. Economic factors in business expansion. Impact of globalisation on global companies.

Theme 4: Making markets work. What are the issues about different types of market, eg how is an oligopoly of monopoly different from a perfectly competitive market? Market failure across the economy, i.e. goods or service are not allocated efficiently, for example the housing market. How may it be solved. Macroeconomic policies and impact on firms and individuals; understanding that there are always trade off to pursuing a particular economic policy. E.g. cutting interest rates to boost spending may cause an increase in inflation.

You will enjoy Economics if oyu are particularly interested in current affairs as the management of the economy is at the forefront of news. Are you interested in why the value of the pound changes if the government changes taxes or the Bank of England changes interest rates? Expect to have to explain and analyse complex theories and weigh up the potential impact of different types of economic policy.

Curriculum Intent

Entry Requirements:

5 GCSES 4-9 or A*-C to include Maths and English Lang or Lit Grade 5 (Grade 6 desirable)

Assessment