Economics

A LEVEL OCR BOARD

Economics is all about the allocation of scarce resources.
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.
 

Curriculum

Year 1
Scarcity , PPC, Demand and Supply , Market Failure , Econom ic object ives and pol icies to achieve them
Component 1: Microeconomics
Students will learn the reasons for individuals, organisations and societies having to make choices. They will also explore how competitive markets work, 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, 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 2
Market Structures, Labour Markets, Env ironment, Development, Inequality, Financial markets
Component 1: Microeconomics
Students will build upon their knowledge from the Yr1 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 Year 1 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

3 papers – Micro, Macro (both have data response and 2 essays) and synoptic (30 MCQs and a data response, which covers both sides of the course).

FURTHER INFORMATION:

Mr M Jackson: mjackson62.312@lgflmail.org (HOF)

Mrs HG Gohil-Al-Sheikh: ggohil5.312@lgflmail.org (HOD)