The study of economics will enable you to develop a deeper understanding of the world around us and the impact it has on our everyday lives and provides a general qualification for a wide range of careers. Our approach to Economics is to apply rigorous theory to support analysis of current economic problems and issues, and encourage you to appreciate the interrelationships between microeconomics and macroeconomics. The Operation of Markets and Market Failure is primarily about microeconomics. You will acquire knowledge and understanding of a selection of microeconomic models such as demand and supply, the operation of the price mechanism and causes of market failure will be used to explore current economic behaviour. When applying and evaluating these to current problems such as supply and demand theory and production possibility curves and different market structures, you will need to be critically aware of the assumptions upon which these models are based and their limitations when they are used to make sense of real world phenomena. You will then apply your knowledge and skills to a wide variety of situations and to different markets and examples of market failure, including environmental market failures. You will study some crucial markets in detail including financial markets and the labour market. The National and International Economy section of the specification is primarily about macroeconomics. You will understand that microeconomic principles underpin the behaviour of the macroeconomy. You will learn about developments in the UK economy and government policies over the past fifteen years and should also be aware of developments in the world economy, including the European Union, and how these have affected the UK. You will use a number of models demonstrating how the macroeconomy works and should appreciate that different economic models provide insights into different aspects of the behaviour of the macroeconomy. When using these models you should be critically aware of the assumptions upon which they are based and their limitations when they are used to make sense of real world phenomena. Furthermore, you should be prepared to propose, analyse and evaluate possible solutions to macroeconomic problems. You will assess the impact and effectiveness of current government policies to deal with these problems, as well as considering alternative policies and approaches. The Economic Principles and Issues paper will combine the understanding and skill developed in the previous two papers to solve a real world problem.
A minimum of five GCSEs at grade 5 or above including Maths and English Language, in subjects relevant to your A Level or A+ Programme subject choices.
Assessment is comprised of three two hour examinations at the end of two years of study. Paper 1 - Markets and Market Failure Paper 2 - National and International Economy Paper 3 - Economic principles and issues Progression on to year 2 will be dependent on successful completion of the first year taking into account: Internal Progression Examination results and the Key Assessment Profile throughout the first year.
About Education Provider
| Region | West Midlands |
| Local Authority | Staffordshire |
| Ofsted Rating | Outstanding |
| Gender Type | Co-Educational |
| Address | Knutton Lane, Newcastle-under-Lyme, ST5 2GB |
The study of economics will enable you to develop a deeper understanding of the world around us and the impact it has on our everyday lives and provides a general qualification for a wide range of careers. Our approach to Economics is to apply rigorous theory to support analysis of current economic problems and issues, and encourage you to appreciate the interrelationships between microeconomics and macroeconomics. The Operation of Markets and Market Failure is primarily about microeconomics. You will acquire knowledge and understanding of a selection of microeconomic models such as demand and supply, the operation of the price mechanism and causes of market failure will be used to explore current economic behaviour. When applying and evaluating these to current problems such as supply and demand theory and production possibility curves and different market structures, you will need to be critically aware of the assumptions upon which these models are based and their limitations when they are used to make sense of real world phenomena. You will then apply your knowledge and skills to a wide variety of situations and to different markets and examples of market failure, including environmental market failures. You will study some crucial markets in detail including financial markets and the labour market. The National and International Economy section of the specification is primarily about macroeconomics. You will understand that microeconomic principles underpin the behaviour of the macroeconomy. You will learn about developments in the UK economy and government policies over the past fifteen years and should also be aware of developments in the world economy, including the European Union, and how these have affected the UK. You will use a number of models demonstrating how the macroeconomy works and should appreciate that different economic models provide insights into different aspects of the behaviour of the macroeconomy. When using these models you should be critically aware of the assumptions upon which they are based and their limitations when they are used to make sense of real world phenomena. Furthermore, you should be prepared to propose, analyse and evaluate possible solutions to macroeconomic problems. You will assess the impact and effectiveness of current government policies to deal with these problems, as well as considering alternative policies and approaches. The Economic Principles and Issues paper will combine the understanding and skill developed in the previous two papers to solve a real world problem.
A minimum of five GCSEs at grade 5 or above including Maths and English Language, in subjects relevant to your A Level or A+ Programme subject choices.
Assessment is comprised of three two hour examinations at the end of two years of study. Paper 1 - Markets and Market Failure Paper 2 - National and International Economy Paper 3 - Economic principles and issues Progression on to year 2 will be dependent on successful completion of the first year taking into account: Internal Progression Examination results and the Key Assessment Profile throughout the first year.