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Idsall School

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Economics

Pearson Edexcel 'A Syllabus' Economics A Level 

Economics is a fascinating subject to study, as it helps you look more deeply into the world around you – how and why it functions as it does. It can also give you new perspectives on some of the most pressing and challenging problems facing the world today.  Economics is with you for life; it will help you to understand what is happening nationally and internationally. 

Ever thought about:

  • What determines the price you pay for the things you buy?
  • Why the government can’t just increase the minimum wage and make everyone better off?
  • Why there is unemployment when there are lots of job vacancies?
  • Why there is poverty in the world alongside great wealth?
  • Why you have to pay tuition fees to go to university when Scottish students don’t?
  • When you go abroad each year why do you get different amounts when you change your currency?

If you would like an answer to these questions then economics might be for you – study economics and you can help make the world a better place!

In both years, time is split between microeconomics (concerned with the decisions made by individuals in a variety of situations), and macroeconomics (concerned with decisions about wider issues such as employment and inflation).  In year 13 students will be examined on how well they can apply their learning in a ‘real world’ context.

Economics is 100% examination, which involves undertaking 3 papers in total at the end of Year 13 for the whole A Level.

Course Content 

The course is based around Micro and Macroeconomics, whereby students study 4 themes of work – 2 Microeconomics themes and 2 Macroeconomics themes. These areas of study are: 

Theme 1 – Introduction to markets and market failure – Year 12 

Theme 2 – The UK Economy – Performance & Policies – Year 12

Theme 3 – Business Behaviour and the Labour Market – Year 13

Theme 4 – A Global Perspective – Year 13

The examination (30% of A2; 30% of full A-level)

Exam 1: Theme 1 and 3 - Introduction to markets and market failure & Business Behaviour and the Labour Market = Paper 1: Markets and Business behaviour = 35% of qualification

Exam 2: Theme 2 and 4 – The UK Economy - Performance and Policies & Global Perspective = Paper 2: The National and Global Economy = 35% of qualification

Exam 3: Themes 1 – 4 – Microeconomics and Macroeconomics = 30% of qualification

Exam 3: The paper comprises two sections, and is 100 marks in total.

Each section comprises one data response question broken down into a number of parts, including a choice of extended open-response questions; you select one from a choice of two.

If you require advice or further information about the Economics curriculum at Idsall School, then please contact the Head of Department, Mr D Thomas on the following email:  dthomas@idsall.shropshire.sch.uk 

Topics Covered per Half Term 

Term Year 12 Teacher 1 Year 12 Teacher 2
Autumn 1

1.1 Nature of Economics

  • 1.1.2 - Positive and Normative economic statements
  • 1.1.4 - production possibility frontiers
  • 1.1.6 - Free, mixed & command market economies

1.2 How markets work

  • 1.2.7 - Price Mechanism
  • 1.2.8 - Consumer & Producer surplus

1.1 Nature of Economics

  • 1.1.1- Economics as a social science
  • 1.1.3 -The economic problem
  • 1.1.5- Specialisation and division of labour

 

1.2 How markets work

  • 1.2.1 - Rational decision making
  • 1.2.2 - Demand
  • 1.2.4 - Supply
Autumn 2 
  • 1.2.9 - Indirect taxes and subsidies
  • 1.2.10 - Alternative views of consumer behaviour

 

1.3 Market Failure

  • 1.3.1 - Types of market failure
  • 1.3.2 - Externalities
  • 1.3.3 - Public goods
  • 1.3.4 - Information gaps
  • 1.2.3 - Price, cross and income elasticity of demand
  • 1.2.5 - Elasticity of Supply
  • 1.2.6 - Price determination

1.4 Government Intervention

  • 1.4.1 - Government intervention in markets
  • 1.4.2 - Government failure
Spring 1

January - Theme 1 mock examination

  • 2.6.1 - Macroeconomic Objectives
  • 2.1.1 and 2.5 - Economic Growth

January - Theme 1 mock examination

  • 2.1.2 - Inflation
  • 2.1.3 - Employment & Unemployment
Spring 2 
  • 2.2 - Aggregate Demand
  • 2.6.2 - Demand side policies
  • 2.1.4 - Balance of payments
  • 2.3 - Aggregate Supply
  • 2.4 - National Income
  • 2.6.4 - Conflict & trade offs between objectives & policies
Summer 1 

Exam Revision and Practice

End of A Level Year 1-Mock exam 

Exam Revision and Practice

End of A Level Year 1-Mock exam 

Summer 2 
  • 3.1-Costs, revenue and profit
  • 3.1-Costs, revenue and profit

 

Term  Year 13 
Autumn 1 

3.1 Business growth

  • 3.1.1 - Sizes and types of firms
  • 3.1.2 Business growth
  • 3.1.3 Demergers
  • 3.2.1 Business objectives
Autumn 2

3.3 Revenues, costs and profits

  • 3.3.1 Revenue
  • 3.3.2 Costs
  • 3.3.3 Economies and diseconomies of scale
  • 3.3.4 Normal profits, supernormal profits and losses

Spring 1 

3.4 Market structures

  • 3.4.1 Efficiency
  • 3.4.4 Oligopoly
  • 3.4.5 Monopoly
  • 3.4.7 Contestability

3.5 Labour market

  • 3.5.2 Supply of labour
  • 3.5.3 Wage determination in competitive and non-competitive markets
Spring 2 

3.4 Market structures

  • 3.4.2 Perfect competition
  • 3.4.3 Monopolistic competition
  • 3.4.6 Monopsony

3.5 Labour market

  • 3.5.1 Demand for labour
Summer 1 

3.6 Government intervention

  • 3.6.1 Government intervention
  • 3.6.2 The impact of government intervention
Summer 2  April – June = Exam practice, revision and A Level exams