ECONOMICS
Examining Body and Subject Title
AQA Advanced Subsidiary/Advanced Level Economics
Aims
The aims of the AS and A level specifications are to:
· Develop an understanding of economic concepts and theories through a
critical consideration of current economic issues, problems and institutions
that affect every day life
· Apply economic concepts and theories in a range of contexts and to
appreciate their value and limitations in explaining real-world phenomena
· Analyse, explain and evaluate the strengths and weakness of the market
economy and the role of government within it.
The AS course, to be completed in Year 12, will encourage the development
of a ‘tool kit’ of the knowledge and skills used by economists.
Scheme of Assessment
AS Level
The AS forms 50% of the assessment weighting of the full A level. Two units
are taken for the AS and a further two units to complete the A level. The AS
level, taken in Year 12, is examined in two parts:
Units 1 and 2 will each be examined using compulsory objective test
questions (multiple choice) and one data response question chosen from two
alternatives.
Unit 1 Markets and Market Failure (A Level 25%; AS Level 50%)
Duration 1 hour and 15 minutes
· Managing scarce resources
· Competitive markets and how they work
· Market structures and competitors
· Economic efficiency within competitive markets
· Why markets may not work efficiently
· Making choices under situations of market failure
· The impact of government intervention on market outcomes and efficiency.
Unit 2 The National Economy (A Level 25%; AS Level 50%)
Duration 1 hour and 15 minutes
· Government policy objectives and indicators for national economic
performance
· The reasons for and the compatibility of government policy objectives
· Aggregate demand and supply
· The application of macroeconomic policy instruments
· The structure and essential determinants of international trade.
A Level
Unit 3 Business Economics and the Distribution of Income (A Level 25%)
Duration 2 hours
This develops concepts and issues raised in the AS Unit 1 and applies them
into a wider contextual range.
Unit 4 Government Policy, The National and International Economy
(A Level 25%)
Duration 2 hours
This develops concepts and issues raised in Unit 2 and introduces the
international dimension. There is a particular focus on globalisation and on
the impact of the European Union on Britain. Application of these concepts to
current issues in Economics will require candidates to analyse recent change
and evaluate the effectiveness of policy measures introduced to deal with
perceived problems. Units 5 & 6 will be assessed by both data response and
essay questions, which will be synoptic in nature.
As one of the established academic subjects grouped as a Social Science,
Economics lends itself as an ideal link subject between Arts and Science
based A Levels. Skill requirements are drawn from a variety of other
disciplines, numeracy being of significant importance.
The subject will appeal to students who have a keen interest in current affairs,
and who would like their education rounded out with a framework of tools
which are used to understand most markets and organisations today.
A W J Robertson
Head of Economics and Business Studies
October 2007
For a comparison between Economics and Business Studies, see Choosing
between Economics and Business Studies