Rickmansworth School Sixth Form Prospectus

Examining Body - EDEXCEL LINEAR

ECONOMICS

REQUIREMENTS - GCSE LEVEL

Grade 6 in Maths Grade 6 in English

ADDITIONAL COSTS - Approx Textbook £36 The Economist/Economic Review £15 annual subscription Revision Guides £5/15 each Keynote Conferences £25

COURSE DESCRIPTION Economics is a social science that focuses on the study of how society copes with the ‘economic problem’ – the existence of unlimited wants and scarce resources. How do consumers, firms and governments make decisions regarding resource allocation? As a society, how do we decide who gets what? It is broken down into micro and macroeconomics. Microeconomics is a study of individual markets. It explores how the interaction of supply and demand determines the price of goods and services, and the quantity produced and consumed. In micro economics students will study: how markets work, objectives of firms, how supply/demand are affected by a number of factors, market failure, government intervention and the labour market amongst many other themes. Macroeconomicsexaminesbroaderissuesthatapplytothenational and global economy. Students will learn about macro-economic objectives, performance indicators, aggregate demand and supply, national income and growth, poverty and inequality, the financial sector, emerging and developing economies. The qualification requires students to think critically, creatively and logically. There is a requirement to be comfortable with mathematical models to demonstrate economic concepts. To gain successful outcomes in the subject it is vital that students haveagoodunderstandingof real economiceventsoverthe last 10 years. PROGRESSION Being a social science Economics lends itself to many areas of further study or employment. You can use Economics toprogress toadegreeinEconomics,PPE,Business,Management,Accounting, Maths, Geography and many others. You can move onto working in a range of organisations from those supporting humanitarian issues tobanking. There is no limit towhere this A Level will take you.

ASSESSMENT A LEVEL - comprised of three exams: COMPONENT 1 Markets & Business Behaviour COMPONENT 2 The National & Global Economy COMPONENT 3 Microeconomics & Macroeconomics

35% of A Level mark

35% of A Level mark

30% of A Level mark

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