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Economics

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The Subject

Economics at Collingham is a rewarding intellectual experience, offering highly marketable skills in a way that is both stimulating and analytically rigorous.

Why study Economics?

Have you ever wondered:

  • Why Angel Di Maria earns more than David Cameron?
  • Why cigarettes and alcohol are taxed so heavily?
  • What effect the Euro has on your life?
  • Why European food surpluses are not given to poor countries suffering famine?
  • Why parking is so expensive in London?

These are some of the many questions dealt with in an Economics course. Students are encouraged to take a lively interest in current affairs as discussed in the newspapers or on radio or television. By the end of the course, students will be in a position to understand and discuss current economic issues, such as: whether the UK should join or stay outside the Euro zone, the importance of controlling inflation, the effect of commodity price rises on businesses, consumers and the economy.

This is an excellent subject for numerate, literate and able students. It combines well with most subjects, although we would not generally advise students to take both Economics and Business Studies. GCSE Maths is needed, not because of any formal mathematical content, but as an indication of analytical ability.

Economics can form the basis of many different university courses or careers. It is a qualification respected by university admissions tutors as an indication of analytical ability. It can be a complement to other A Levels in the Sciences, Social Sciences or Humanities, and may lead to degree courses in any discipline.

 

"... thank you for everything, you have truly been the only teacher who not only has made me understand Economics but made me love the subject as well, and made it my favourite subject."

Best regards,

A LEVEL STUDENT, AUGUST 2015

 

 

 

 

 

 

The course

Students starting a two-year course in September will take an AS Level in the first year. The subject content is presented in four units, two at AS and two at A2. The first unit provides an introduction to the nature of economics and examines the operation of markets for goods and services, why and how markets fail and how the government attempts to provide remedies.

The operation of markets and market failure

  1. Economic methodology and the economic problem
  2. Price determination in a competitive market
  3. Production, costs and revenue
  4. Competitive and concentrated markets
  5. The market mechanism, market failure and government intervention in markets

The national economy in a global context

  1. The measurement of macroeconomic performance
  2. How the macroeconomy works:  the circular flow of income, AD/AS analysis, and related concepts
  3. Economic performance
  4. Macroeconomic policy

At A Level, candidates develop the micro and macroeconomics already learnt at AS, considering economic concepts and theories in greater depth and recognising the values and limitations of economic models.

Individuals, firms, markets and market failure

  1. Economic methodology and the economic problem
  2. Individual economic decision making
  3. Price determination in a competitive market
  4. Production, costs and revenue
  5. Perfect competition, imperfectly competitive markets and monopoly
  6. The labour market
  7. The distribution of income and wealth: poverty and inequality
  8. The market mechanism, market failure and government intervention in markets

The national and international economy

  1. The measurement of macroeconomic performance
  2. How the macroeconomy works:  the circular flow of income, AD/AS analysis, and related concepts
  3. Economic performance
  4. Financial markets and monetary policy
  5. Fiscal policy and supply-side policies
  6. The international economy

A one-year course is possible for determined and able students with a mature attitude and an interest in current affairs.

Preferred Board: AQA 

 

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