What is it like to study this course and how will I be assessed?
Economics relates to every aspect of our lives, from the decisions we make as individuals to the policies of governments and firms. Develop an economic understanding, and you gain a deeper understanding of the world around us that is as valuable as it is interesting. Economics has connections to many other subjects such as politics, geography, history, psychology and statistics.
In order to meet the needs of individual students, the course is taught through a mixture of lectures, discussions, active lessons, presentations, case studies, videos, guided self-studies, and the use of the college portal and internet. Course assessment is through short tests, objective test questions, essays, and case studies. Final assessment is through external examinations; there is no coursework.
What topics will I study?
At AS Level you will discover the fundamentals of the economic problem. Why we make the choices we make and the impact of our choices. You will gain an understanding of many of today’s front page news items such as issues regarding the Eurozone, the double-dip recession, and taxes on Cornish pasties! In Unit 1, we look at specific markets, and you will discover how demand and supply govern everything that you do! In Unit 2, we look at the external environment and how things such as inflation, growth, unemployment and foreign trade affect us all.
- Unit 1 – The Operation of Markets and Market Failure
- Unit 2 - The National Economy in a Global Context
In the full A Level, we will cover AS concepts and focus more specifically on firms and the influence of the markets in which they operate. In Unit 1, we discover why firms behave the way they do and why some people earn more than others. We also examine issues surrounding the environment and inequalities in our society. In Unit 2 our focus shifts to the world economy and the theory behind trade. We also learn more about exchange rates, unemployment, inflation and other economic concepts in more depth than at AS. We focus on how and why various government policies are used to manage our economy. In Unit 3, we will primarily bring together theory from Units 1 and 2 to apply to a case study with real-world data.
A Level Modules:
- Unit 1 – Markets and Market Failure
- Unit 2 – The National and International Economy
- Unit 3 – Economic Principles and Issues
What experiences will I get?
There are opportunities to go on trips to conferences and organisations.
What are the entry requirements?
You need at least five GCSEs at Grade C with English Language and Maths at Grade B or above. Grade B in English is required as the course involves substantial essay writing.
What can I study alongside this course?
This course can be combined with other courses to make a full programme.
What facilities are there?
You will have access to a learning resource centre. There is a refectory in the Hele Building.
What can the course lead on to?
Economics is excellent stepping stone to a wide variety of courses and career opportunities. It is a highly regarded subject by top universities. Employers value economic graduates for their analytical way of thinking and problem-solving skills. Economics graduates are amongst the highest paid university graduates, and there are numerous career options. As accomplished managers of information, economists are highly valued by firms across sectors. Naturally, finance positions (actuary, auditing, trading, banking) are possible routes, but roles within operations management, transport, business consultancy, the civil service, treasury, not-for-profit and environmental organisations are also popular.
Are there any additional costs?
There are some costs of materials and resources.
What do our students think?
Thomas: "Economics is the study of the choices we make in order to allocate resources in an economy to achieve the greatest welfare (or happiness). It is a subject that affects each and every one of us daily, from taxes and benefits to the price of the local paper. In AS Economics we study topics like demand and supply, productive efficiency, market failure and government intervention to make markets more efficient. If you are interested in learning why things happen that are in the news, like booming oil prices, the financial crisis, or falling house prices, then economics is the subject for you. I have thoroughly enjoyed economics, and I am glad that I chose to study economics because it broadens my career prospects."
This further education course is free for all 16-18-year-olds who are resident in the UK and the European Economic Area for the last 3 years. (You must be under 19 on 31st August in the calendar year that you start your course).