Welcome to Economics
Economics is an absorbing, interesting and relevant social science providing answers to everyday questions about the economy through a logical and questioning approach.
The subject helps students to develop an analytical, logical, and debating approach to their study.
A course in economics teaches students to think clearly about how economic forces affect both how business works and how governments operate. It assists students in many career paths within Industry, the City and Government and is highly valued by employers.
All occupations whether in the arts or science have to work and exist within a business and economic context and so an understanding of these forces is useful for all employees.
Economics A level is available to students who have reached a minimum standard of 6.5 in IELTS at the point of entry to the course. It is not necessary to have studied economics previously but this would be helpful.
What you will study?
A Level Year 1 – Develops the foundations and skills that can be transferred to concepts studied later in the course. Students are exposed to the fundamental ideas of markets, costs and benefits, externalities and aggregate demand. Students also study microeconomics (individual markets) and macroeconomics (the economy as a whole). Year 1 is approximately 70 % microeconomics (prices, competition, market problems) and 30% macro-economics (GNP, unemployment, inflation).
A level Year 2 – Is 70 % macroeconomics and 30 % micro-economics; topics focus on trade, economic growth, and government economic policy. In addition, more emphasis is given to current economic affairs ideas such as contestability, the UK and Brexit, and behavioural economics.
Assessment consists of two exam papers with a mixture of data analysis (tables, figures) as well as multiple choice and essay questions.
Economics Enrichment at NatMatSci
Throughout the course, students are encouraged to familiarise themselves with current economic issues by using robust economics websites like economicsonline and gov.uk and also reading quality magazine publications such as The Economist. After familiarising themselves with such current issues, these issues are debated from an economics perspective. This knowledge and discussion will not only assist their exam performance but also help each student gain confidence and capabilities which they apply to university applications, study and the workplace.