Course Outline
The course is divided into 4 Themes over the 2 Academic years and students will develop an understanding of the following content over the Themes:
Year 12
Theme 1: Markets, Consumers & Firms
- Scarcity, choice & potential conflicts
- Enterprise, business & the economy
- Supply & demand
- The role of credit in the economy
- Market failure & government intervention
- Revenue, costs, profits and cash
Theme 2: The Wider Economic Environment
- Business growth & the competitive environment
- Firms, consumers & elasticities of demand
- Productive efficiency
- Life in a global economy
- The economic cycle
- Introduction to macroeconomic policy
Year 13
Theme 3: The Global Economy
- Globalisation
- Economic factors in business expansion
- Impact of globalisation on global firms
- Impact of globalisation on local and national economies
- Global labour markets
- Inequality and distribution
Theme 4: Making Markets Work
- Competition and market power
- Market power and market failure
- Market failure across the economy
- Macroeconomic policies and impact on firms & individuals
- Risk & the financial sector
Requirements
The course requires a genuine interest of the subject matter i.e. a keenness to read widely, be aware of contemporary issues relating to the economy and business. A good level of Maths and English is also required.
Assessment structure
Paper 1: Markets and how they work (35% of the A-level)
Paper 2: Competing in the global economy (35% of the A-level)
Paper 3: The economic environment and business (30% of the A-level)
Contact for further information
Mr Simon Roundell sfr@wellingtoncollege.org.uk