Economics

Intent and Aims

Edexcel A Level Economics has been designed to provide a focused applied qualification. The qualification will provide learners with the knowledge, understanding and skills necessary to prepare them for employment or Further Education such as Degrees/Diplomas and Apprenticeships. The course has an essential core of knowledge (assuming no previous study of Economics) and applied skills. The essential core gives learners the opportunity to gain a broad understanding and knowledge of the economic world which they can later apply to real life. The course has been developed to encourage students’ personal development of skills relevant to the business world – communication; interpersonal; motivation; determined; proactive; problem solving; negotiation; delegation; time management and leadership.

Edexcel is being delivered here at Moulton because it is accessible for all students and is cohesive within the content therefore making it easier to be delivered to learners. The course is clearly directed towards the exam assessments as all three papers are based on themes therefore learners are fully aware of how to complete effective revision adequately to ensure results are achieved. There are fewer models & theories within Edexcel compared to AQA and these models are more applicable for learners to use within the Business world.

  • Develop an interest in, and enthusiasm for, the subject.
  • Appreciate the contribution of Economics to the understanding of the wider economic and social environment.
  • Develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts.
  • Use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an Economist.
  • Understand that economic behaviour can be studied from a range of perspectives.
  • Develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.

Key skills

  • Knowledge of key information.
  • Application of the theory in different contexts.
  • Analysis of different contexts and promoting different arguments for and against.
  • Evaluating by making judgements and decisions based on the previous analysis.
  • Interpreting and handling data to interpret tables and graphs and to show trends and patterns.

Students will also develop the following:

  • Interpersonal skills: communication; teamwork, leadership.
  • Task Management: time management, negotiation, delegation.
  • Managing yourself: Proactivity, determination, resilience.

Key concepts - ‘big themes’ that underpin progress

  • The ‘Economic problem’ - consumers have unlimited wants and needs, but there are limited resources to fulfill these.
  • Resource Allocation - how do markets allocate resources and should Governments intervene to help allocate resources?
  • Our place in a dynamic global economy and their interdependence.
  • The lives and works of some of the most influential Economists of modern times, thus enabling them to evaluate how Governments, central banks, and other economic agents coordinate economic policy during the economic cycle. In particular, Hayek, Keynes and Marx are compared to allow students the opportunity to gain an understanding of different economic systems.
  • The Classical hypotheses of rationality and perfect markets and to consider the role of the institutions which seek to correct market failures.
  • Empirical data regarding nations’ abilities to achieve key macroeconomic objectives such as: low unemployment and sustainable economic growth - our students will be able to analyse the extent to which markets are fully flexible and evaluate the unintended consequences of government intervention.
Our programmes of study

In Year 12 and 13 students study the Pearson Edexcel Economics ‘A’ A Level qualification. Students build knowledge and understanding of core economic models and concepts in Themes 1 and 2 and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies

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