Examination body: AQA
The basic economic problem is scarcity and Economics can be defined as the study of the allocation of scarce resources between competing uses; it is about the choices we have to make to get the goods and services we need and want. In Economics, we study how markets work, why they sometimes fail and how the government may step in to solve this failure. We also examine the structure of firms in markets and how this structure may help or hinder the allocation of resources. In addition, we look at how the national economy works and how we try to ensure it grows over time to improve the standard of living.
There are no requirements over and above those laid down for Sixth Form entry. However, you should acknowledge that Economics is a rigorous academic subject which requires the ability to think logically; a B in GCSE Maths can indicate the ability to do this. A willingness and ability to write extended answers is also required as issues are analysed in depth and in detail in exam questions.
Economics appeals to those who have an interest in the economic world around them, and those who can think logically within clearly defined parameters usually meet with success.
Delivery and Assessment
The AS examinations comprise two papers, which include multiple choice and data response questions. The A2 examinations comprise three papers, which include multiple choice, essay-style, and data-response questions, and questions based on an economics case study.