Fast Track A Level Economics

Fast Track A Level Economics Course Contents

The whole ‘A’ level has FOUR (4) specific units of study, which are sub-divided into FOUR (4) Units of learning, these are:

Fast Track A Level Economics Unit 1 – Markets, Consumers and Firms

Students will learn about the market economy and how market forces shape the way in which firms meet consumer demand, how firms raise the finance they need and how they measure their performance.

Students will consider how markets work, looking at how supply and demand interact to allocate resources in local, national and international markets. They will learn how to apply supply and demand analysis to real-world situations and be able to offer explanations to explain consumer behaviour.

Having investigated how markets work, students will then look at market failure. They will look at the nature and causes of market failure before considering the strengths and weaknesses of possible government interventions to remedy market failure.

Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and to develop an ability to think as an economist.

To develop their skills, knowledge and understanding in economics, students need to have acquired competence in quantitative skills that are relevant to, and applied in the context of, this theme.

For this theme, students will need to be aware of the accounting ratios, which will be taught throughout this study unit.

Fast Track A Level Economics Unit 2 – The Wider Economic Environment

Business growth and competitive advantage lead naturally to the ways in which consumers are influenced by and respond to changes in prices and incomes.

This theme goes on to develop an understanding of the nature of productive efficiency and the need to improve it. At this point, the theme broadens out to cover global issues, fluctuations in the economy and the ways in which governments respond to threats and changes with micro- and macro-economic policies.

Students will consider the different approaches that may be used by policy-makers to address the main economic issues. Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist.

To develop their skills, knowledge and understanding in economics, students need to have acquired competence in quantitative skills that are relevant to and applied in the context of this theme.

Fast Track A Level Economics Unit 3 – The Global Economy

Students develop their understanding of the meaning of globalisation. They then go on to explore ways in which firms expand into new markets and move to new locations for production, alongside looking at the issues relating to global trade and growth, and the trade policies that shape the global economy.

Multinational corporations figure significantly in this theme, along with the study of global labour markets, poverty, inequality and income distribution.

Students will apply supply and demand analysis to the labour market as they see how wages are determined and look at other influences on the rewards of labour. Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist.

To develop their skills, knowledge and understanding in economics, students need to have acquired competence in quantitative skills that are relevant to and applied in the context of this theme.

Fast Track A Level Economics Unit 4 – Making Markets Work

Students will investigate competition and market power in this theme, as well as other aspects of market failure, covered in greater depth from Theme 1: Markets, consumers and firms.

The focus on regulation opens up the range of measures that can be used to prevent firms from using their market power in ways that are detrimental to the interests of society as a whole.

In-depth coverage of macroeconomic policy and the role of the financial markets allows’ students to explore the significant problems that have developed in recent years without needing technical understanding of the financial system.

Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist.

To develop their skills, knowledge and understanding in economics, students need to have acquired competence in quantitative skills that are relevant to and applied in the context of this theme.

Textbooks

Edexcel Economics: AS/A Textbook J. Jones et-al 2015 Pearson Pub.

Andrew Northedge – The Good Study Guide Open University.

All of the above can also be obtained in an electronic format.

Assessment

Awarding Body Syllabus

The course does not as standard have any ‘course work’ element and is therefore, has an end loaded final assessment by a THREE (3), TWO (2) hour papers across the four syllabus units of learning, that amount to 6 hours in total examination time, which are divided into TWO parts of the four (4) units (themes)studied.

To ensure that the four assessment objectives (AOs) are clearly placed and assessed prior to the final examination, the TMA’s are weighted in accordance with these AO statements below:

AO1: Demonstrate knowledge of terms/concepts and theories/models to show an understanding of the behaviour of economic agents and how they are affected by and respond to economic issues

AO2: Apply knowledge and understanding to various economic contexts to show how economic agents are affected by and respond to economic issues

AO3: Analyse issues within economics, showing an understanding of their impact on economic agents

AO4: Evaluate economic arguments and use qualitative and quantitative evidence to support informed judgements relating to economic issues