Economics

At Townsend we aim to ensure that students studying Economics will develop a range of life skills including teamwork, problem solving, independent learning and communication skills whilst enjoying the course that we offer and meeting their academic potential. We aim to instil a lifelong interest in Economics at a local, national and international level.

The Economics curriculum provides a knowledge and understanding of core and complex economic models and concepts. Delivered content is built upon through a variety of practice questions and case studies with regular feedback supporting student progress. All students are encouraged to develop an understanding of current events and we aim to ensure that students continue to think critically and question the changing economic environment around them.

Economics A Level has had a surge of popularity in recent years and is now in the top 10 of A Levels studied in the UK (2023 – Ranked 9), and one of the most popular social sciences at university.

Course Details

Edexcel Economics A –  A Level

https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html

Course Description

Themes 1 and 2 are covered in Year 12, progressing to Themes 3 and 4 in Year 13.

Theme 1 – Introduction to Markets and Market Failure – Microeconomics including; demand and supply, firm and consumer behaviour, causes of market failure and government intervention.

Theme 2 – The UK Economy – Macroeconomics including; aggregate demand and supply, key UK economic objectives, government policies (monetary, fiscal and supply side).

Theme 3 – Business Behaviour and the Labour Market – Microeconomics including; market structures from perfect competition to monopoly, contestability, revenue, costs, profit, growth, perfect and imperfect labour markets, trade unions.

Theme 4 – A Global Perspective – Macroeconomics to include; globalisation, international trade, exchange rates, the balance of payments and the financial sector.

Assessment

Final assessment is through external exams and consists of three papers. All three papers will be examined in the May/June of the second year. Each paper lasts 2 hours with 100 marks.

Paper 1 – Themes 1 and 3 – Worth 35%

• Section A – 15 multiple choice and short answer questions
• Section B –Data Response
• Section C – Essay questions (choice of one from two)

Paper 2 – Themes 2 and 4 – Worth 35%

• Section A – 15 multiple choice and short answer questions
• Section B –Data Response
• Section C – Essay questions (choice of one from two)

Paper 3 – Synoptic – Worth 30%

Two sections – Each with a compulsory data response and a choice of essay questions.

Home Learning

Students will be given homework tasks each week to complete, we use Google Classroom and other platforms such as Seneca Learning. Homework will include activities such as: – flipped learning – reading and activities to prepare in advance for lessons – completing a quiz to check understanding of a topic – answer exam questions on a topic – research a specific topic, such as the wider economic impacts of HS2 – create a presentation to deliver in class on a specific topic, such as an economic overview of a developing country – revise/create revision materials on certain topics

As well as completing the weekly homework tasks, students should be reading through their class notes after each lesson to check understanding and prepare questions to ask the teacher where additional help is needed. To help with revision for the exam it is recommended that students prepare revision resources for topics as they are learning them. Students should be prepared to study independently and use all the resources available to them both in and out of the classroom. This includes a commitment to wider reading/study, including keeping up to date with current economic news both national and international.

Where can Economics take you

Further Study: – Apprenticeship in Economics, Business or Accounting – Degrees in Economics, Business, Management, Administration, Finance, Accounting, Politics, International Relations, – Professional Business and Finance qualifications such as, AAT, CIMA, ACCA, ACA, MBA

Careers: – Economist – Accountant – Management Consultant – Actuary – Economics Teacher –  Banking – Stockbroker – FX Broker – Analyst

How parents can support their child’s learning

• Ask your child to describe what they learnt in their lesson
• Discuss current business and economic events to engage your child in wider learning and reading
• Review work set on Google Classroom
• Use your child’s work / revision resources / flash cards to ask them questions and test their knowledge, regular repetition will consolidate learning and practice key skills, particularly diagram drawing
• Encourage your child to attend consolidation and revision sessions
• Ensure your child is completing enough work outside the classroom to thrive at A Level (an average of 4-5 hours per week, per A Level subject in addition to class time is recommended)

Useful links

• Seneca learning – https://app.senecalearning.com
• Tutor2u – https://www.tutor2u.net/economics
• Textbook – Edexcel AS/A Level Economics (Anderton and Gray)
• Revision guide – AS and A-Level Economics: Complete Revision & Practice (with Online Edition) (CGP A-Level Economics)
• Economics Review – https://www.hoddereducation.co.uk/magazines/magazines-extras/economics-review-extras

For More Information, contact Miss A. Philpott, Townsend Church of England School.