One of the key concepts central to this subject is how economies divide up their scarce resources – who gets what and why? In this course, you will study microeconomics, examining issues such as pollution, traffic congestion, poverty, and the degree of competition within different markets. Macroeconomics looks at government policies, unemployment, inflation, international trade, and the difficulties governments face when they attempt to steer the economy in a specific direction. This course will give you a strong knowledge of the economy and will hone your logical, numerical, and analytical skills.

What skills will I develop?

You will develop your research skills, using books, journals, newspapers and the internet, as well as developing economic arguments, critical evaluation skills and problem solving.

You will develop your skills in debating and presenting, as well as improving your own learning and performance with concise and efficient note taking styles.

What topics will I study?

Component 1 - Examination: Markets and Market Failure (2 hours - 33.3%)

  • Section A: Data response questions from one of two contexts.
  • Section B: Essay question

Component 2 - Examination: National and International Economy (2 hours - 33.3%)

  • Section A: Data response questions from one of two contexts.
  • Section B: Essay question

Component 3 - Examination: Economic Principles and Issues (2 hours - 33.3%)

  • Section A: Multiple choice questions
  • Section B: Case study questions

Where does the course lead?

Many degrees such as Accountancy, Business, Business Management, Business & Finance, Politics, Geography and Law all contain aspects of Economics. Many of our former students have gone on to do degrees in Economics, Engineering, Maths or Physical Sciences, and have found the subject useful to them. Ultimately, many Economics students go on to work for large businesses, often within the financial sector.

Economics will also help you to make sense of current affairs and to be more aware of real world economic issues, such as poverty, unemployment, recessions, traffic congestion and house prices. You will also be developing a range of skills, which will certainly help in your chosen career.

Exam Board


Head of Department

Tamra Perry

Entry Requirements

Five grades 4-9 (or equivalent) including at least a grade 4 in English Language and Mathematics.

Assessment Breakdown

Examination = 100%