ECONOMICS (EDX)
A2 Course Outline
What is Economics at A2?
Second year economics assumes much of the knowledge from AS and introduces students to a few new areas. Microeconomics at A2 covers Business Economics. It deals with the objectives of firms and the degree of competition they face in the markets they find themselves in and what the government can do to make the markets more competitive and efficient. The theory is constantly applied to real life examples such as the UK financial sector, retail sector and the European airline market.
Macroeconomics covers the major objectives of government policy. It deals with the causes of unemployment and inflation, their costs to the economy and the solutions to these problems from the Keynesian and Monetarist schools. Students will appreciate the complexity of the economy and the degree of difficulty in managing it as the current credit crunch has shown and the subsequent recession.
Within Economic Growth, factors which lead to growth are studied as well as the problems civilisation and the planet faces as a result, hence a shift to the new paradigm of sustainable growth. Trade theory deals with the international competitiveness of the UK economy against its main competitors as well as new emerging ones and the arguments for free trade and the subsequent impact of globalisation on the UK and the world. We also look at the phenomenon of de-globalisation as countries seek to protect themselves in the current economic climate.
What Questions Will Students Face in A2 Economics?
Students are often surprised to learn that the UK is the fifth largest economy in the world. Economics will enable students to appreciate the strengths of the UK economy as well as its weaknesses and the challenges facing it in the future.
Students will face questions such as:
- Are mergers beneficial for the UK economy?
- Should markets such as air-travel and telecommunications be opened to competition?
- Has privatisation been a success?
- Should economic growth be the main priority for the government?
- Has the Bank of England been successful at controlling inflation?
- Should the UK join the Euro?
- Will globalisation benefit the UK?
What skills will candidates develop when studying Economics?
Economics enables students to maturely understand how the UK economy functions and will be an asset when working in the business environment.
Students will be able to use the knowledge for their own benefit and will have a healthy grasp of issues that affect their everyday lives.
After completing the subject, students will be able to confidently debate economic issues and learn the skills of arguments and counter-argument.
Students will develop their analytical and essay writing skills during the course and will have to assimilate information and present it in a clear and concise way.
| ECONOMICS (EDX) A2 Specification | |
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Unit 3: |
Business Economics and Economic Efficiency Supported multiple-choice questions where students write a short justification of why they chose that answer and/or why the other answers are incorrect. One data response question out of a choice of two questions. |
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Unit 4: |
The Global Economy One essay question with two parts from a choice of three topic areas. One data response question out of a choice of two questions. |
Structure of the Course
This course will be taught for 6 lessons per week. Homework will be set weekly and deadlines must be adhered to. Reading of textbooks, journals and economic coverage in broadsheet newspapers is essential. Tests are set frequently.
Recommended Reading
Economics (Edexcel) Alain Anderton 5th Edition Causeway Press
