Economics

A LEVEL OCR BOARD

This course will enable students to develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life.

year one

Component 1: Microeconomics

Students will learn the reasons for individuals, organisations and societies having to make choices. They will explore how competitive markets work, and how markets fail and the role of the government in the economy.

Component 2: Macroeconomics

Students will learn about the macroeconomic problems of an economy and the objectives of government economic policy and indicators of national economic performance.  Students will also learn about international trade and arguments for and against free trade.

year two

Component 1: Microeconomics

Students will build upon their knowledge from the AS Component 1 but look into more detail at the market structures and allocation of resources in addition to the labour market.

Component 2: Macroeconomics

Students will build further upon macro concepts from AS level and learn about trade and integration, development and sustainability, the economics of globalisation, the role of the financial sector in the real economy and financial regulation.

Component 3: Themes in Economics

This unit will draw upon content of components 1 and 2 and will require the candidates to consider the theory which has been studied on those components in a ‘real world’ context.

Assessment

External examination (no coursework)

FURTHER INFORMATION:

Mr T Boddington: tboddington1.312@lgflmail.org

Mrs H Hall: hhall4.312@lgflmail.org (HOD)