The Edexel Economics B Specification A level is an excellent course that combines the strengths of Economics and Business A levels into this one course. It is an ideal preparation or anyone who wants to consider studying Economics*, Business, Finance, Marketing or other related courses at University, and it is relevant for a huge number of careers - from Accountancy to Law, Journalism to HR.
Everything is business and all of us are affected by Government policies - so learning about this is relevant to everyone. It is a fascinating course for any Sixth Form student whether they have studied Business GCSE or not. (*to study Economics at Degree level, students are strongly recommended to study Mathematics A level as well.)
The aims and objectives of the Economics A level are to enable students to:
- Develop an interest in, and enthusiasm for, the subject
- Appreciate the contribution of economics to the understanding of the wider economic and social environment
- Develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts
- Use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist
- Understand that economic behaviour can be studied from a range of perspectives
- Develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.
Key areas of study
The course is broken down into 4 main themes:
- Theme 1: Markets, consumers and firms - including scarcity, market, revenue, costs and profit
- Theme 2: The wider economic environment - growth, global economy, macroeconomics
- Theme 3: The global economy - globalisation, inequality and distribution
- Theme 4: Making markets work - competition, market failure, risk and the financial sector
Assessment is by three examinations taken in the final year. These consider the following:
- Paper 1: Markets and how they work (looking at themes 1 and 4 above)
- Paper 2: Competing in the global economy
- Paper 3: The economic environment and business (considering all 4 themes above but via pre-released material)
You do not have to have studied GCSE Business or Economics to undertake the course, though it is useful. A grade 6 in Mathematics and English GCSE is useful to tackle some of the questions in the exam.
Exam Board – Edexcel