Economics

Course summary

Economics is the study of how society decides to allocate its scarce resources. It is impossible for everyone in the world to be a millionaire and to own a mansion but is it also equitable that a billion people live on less than $1 a day? Economics examines these issues and many more. It is the perfect subject for people who are interested in the world around them and current affairs. By studying Economics, you will understand why the credit crunch happened, investigate whether the government response was the correct one and the reasons why it may be impossible to ever have a truly effective National Health Service. Students study the theory behind how markets work to allocate resources, driven by the behaviour of individuals and firms. They study the national and international economy and learn, for instance, why a recession happens and what might lift a country out of recession. Look at any news headlines about the economy and our students will be able to understand the issues that lie behind them, be they about a rise in interest rates or a fall in the value of the pound. This A-Level specification brings the opportunity to study newly developing areas of economics such as behavioural economics and the theory of financial markets. Economics is an academic subject well respected by universities and is a good combination with many other A-Level subjects including maths, history and the sciences.