Economics
- Board: WJEC
- Syllabus: AS – 2131; A2 – 3131
Modules
- AS An Introduction to Microeconomics and Macroeconomics
- Microeconomic and Macroeconomic theory and Policy
- A2 Competitive Behaviour, Macroeconomics and Globalisation (I)
- Competitive Behaviour, Macroeconomics and Globalisation (II)
Method of Assessment
AS 2 examinations: EC1 – 1 hour (20%); EC2 – 2 hours (30%).
A2 2 examinations: EC3 – 1 hour 45 mins (25%); EC4 – 2 hours (25%).
Further information
Few decisions are taken that are not influenced to some degree by economics. Economics is, in essence, about the allocation of scarce resources. The reason that we face economic problems individually and as a nation is that none of us can have all that we want – we live in a world of scarcity. As a result of this we all have to make choices.
You will have to make a choice about how you will decide to earn an income and how you will spend it. You must vote for politicians who decide how much of your income to tax and how to spend the tax revenues. You will purchase products from businesses that decide how much to buy from, and sell to, the rest of the world. Economics is studied because the economic system that we have helps to determine our political, social, religious and personal environment.
Taking Economics A Level will give you the opportunity to develop an understanding of how the economy works and, through concepts and theories, you will consider current economic issues and how they affect your everyday life. The course is designed to provide you with the knowledge and skills that will stimulate an interest in the subject and the world around you and will enable you to have a critical appreciation of current economic issues and their impact on society.
It is not necessary to have studied Economics prior to the A Level course, although an interest in economic issues is important. Anyone wishing to study economics should be predicted at least an A grade in GCSE/IGCSE maths, in addition to being predicted good grades in a number of other subjects.