Economics

Assessment

At A level we will prepare for the following three papers:- 1. Individuals, Firms, Markets and Market Failure - This module requires us to consider why economic choices have to be made. For example, do we spend taxpayers’ funds on Trident or the NHS? We will look at how our market system operates. We will examine how markets work, but also how they can fail. Should “bad” food be taxed? What policies can we as economists recommend to limit/eradicate the damage being done to the environment? Would such a policy work? Why is Wayne Rooney paid £250,000 per week and a nurse might get £30,000 per annum? How fairly is income/wealth distributed in society? Can/should the government intervene to make society fairer? 2. The National and International Economy - We will examine the economic objectives the government sets for itself such as unemployment, rising prices, improving living standards, and so on. How can it achieve those objectives? What might the problems be with any of the policies the government uses? In this module, we will also consider the fact that our economy operates in a global context. As an island we have always been a trading nation but what are the implications for us in the modern world? What about the plight of the less developed economies of the world? 3. Economic Principles and Issues - This paper will test a candidate’s ability to apply their knowledge of all the work covered during the course in order to test the depth and breadth of their understanding. How well have students understood all the concepts and, more importantly, how good are their skills of analysis and evaluation?