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Unit 1 – How Markets Work
What are the economic effects of the transition of Eastern European economies like Russia towards market reforms? What determines the prices of goods and what role is played by consumers and producers?
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and Why do Markets sometimes fail?
Do we need to control dominant firms like Microsoft and encourage the entry of new, smaller companies? Why should Governments intervene in markets like transport, agriculture, health and education?
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Unit 2– Managing the Economy
How should Governments prioritise between Economic targets such as lower inflation, lower unemployment, higher living standards and stable trade and exchange rates? How can the aims be achieved?
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The A2 units (forming the remaining 50%)
Unit 3 – Industrial Economics
How can the birth and growth of firms be encouraged? How do firms use pricing and non-price marketing in various industries? Why do privatised industries need regulators? |
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Unit 4 – Economic Development
The causes, costs and benefits of economic growth. How do we measure higher living standards? What are the sources of finance and strategies for growth e.g. aid or trade? |
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and the Global Economy
What determines the level of import and exports? Why did the Euro slide in value after its launch? Should the UK join this single EU currency? What were those World Trade Organisation problems in Seattle? Can an economy enjoy low levels of both inflation and unemployment? What determines level of taxation and Government expenditure? |
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What skills do I need?
If you choose Economics as an A-level subject you must have passed
English and Mathematics at GCSE level, and you will also enjoy problem-solving
and have a strong interest in current affairs. During the first year
of the course the work involves dealing with concepts and economic
models, which, once mastered, provide a foundation for other topics.
However, this is not a subject for the student wanting factual, straightforward
content. Economics requires students to cope with ideas and numbers
such as how price is determined, inflation and deflation, the measurement
of the national wealth and the conflicts between economic policies.
The ability to learn and understand economic data, and to use it
to illustrate points in essays is essential for success in this subject,
as well as clear and accurate essay style. Once the basic concepts
are understood you will progress to the wider issues of Economics,
such as the organisation of business and the costs of production,
public finance, banking, labour markets and international trade.
You will no doubt have a keen interest in contemporary society, for
there are wide everyday issues to which economic methods can be applied,
such as crime, health care and the environment. You should not be
daunted by the jargon used even if it appears to complicate matters!
Remember, if everybody was able to understand economic jargon the
supply of economists would increase and their value (i.e. their salaries)
would fall, which would make a lot of teachers and lecturers much
worse off. By the way, if you have managed to understand that, then
you have just learned one of the basic concepts of Economics - supply
and demand!
After A-level
Economics has high status, combines well with most subjects and
is always welcomed by University Admissions Tutors in an A-level
portfolio, whether you are applying for arts, science or social science
degree courses. It is useful to have taken Economics at A-level if
you want to read Economics at University, and a combination of Mathematics
and Economics at A-level is especially recommend to anyone considering
Business Studies or Economics as a degree course. Economics should
not be combined with Business Studies at A-level as there is too
much overlap, and Universities may well not accept them as two separate
subjects.
Graduates in Economics are in demand from a wide range
of employers as professional economists, financial analysts, accountants,
bankers, civil servants, teachers and managers, and recent surveys
have shown that economics graduates are among the highest paid of
all graduates.
Suggested reading
Economic articles in the Times, Guardian, Independent and Financial Times
The Economist
Economics Today and Economic Review magazines
are issued throughout the course.
and there is always ..........
Anderton, A Economics (Third Edition) (Causeway Press, 2000)
ISBN 1 902796 10 1
Anderton, A Economics AS Level (Causeway Press, 2000)
ISBN 1 902796 12 8
Anderton, A The Students’ Economy in Focus 1997/98 (Causeway Press, 1998)
ISBN 1 873929 38 2
Atkinson, G.B.J Economics: Themes and Perspectives (Causeway Press, 1997)
ISBN 1 873929 27 7
Beardshaw, J.et.al Economics: A Student’s Guide (4th edition) (Pitman, 1998)
ISBN 0582 303486
Davies, B. et.al Investigating Economics (Macmillan, 1996)
ISBN 0 333 63808 5
Grant, S & Economics in Context (Heinemann, June 2000)
Vidler, C ISBN 435 33111 6
Maunder P et.al Economics Explained (Collins, June 2000)
Revised Third Ed ISBN 0 00 327758 5
