• Economics

Economics

What is Economics?

Economics is the study of scarcity.  As a subject, it is concerned with trying to get the most out of the limited resources that planet earth has, in order to best satisfy its population.  The subject tries to answer three basic questions: What should we produce?  How should we produce it?  For whom should we produce?  From these basic questions, the subject is developed, dealing both in scarcity issues on a small scale (microeconomics) and those on a larger scale (macroeconomics).

Course Outline

At David Game, we follow the WJEC syllabus:

http://www.wjec.co.uk/uploads/publications/11765.pdf

The course is taught as follows:  AS microeconomics, AS macroeceonomics, A2 microeconomics, A2 macroeconomics (including development economics).  In a 2 year course, the AS is completed in year one and the A2 in year two.  The intensive A-level completes all of the above in one year (September – June)

How is it assessed?

AS economics has two papers.  Paper one is a short answer paper on the whole AS syllabus (1 hour).  Paper two is a data response and essay paper, again on the whole AS syllabus (2 hours).

A2 also has two papers.  Paper three is a short answer and essay paper (1 hour 45mins).  Paper four is a data response and essay paper (2 hours).  Both A2 papers cover the whole syllabus.

See the WJEC (www.wjec.co.uk) website for examples of papers.

Related Careers/University courses

A good grade in Economics at A level is highly valued by universities and employers because it requires the student to develop a high level of critical thinking and analytical skills.  Potential careers include banking, finance, accounting, financial journalism and practice as a private or public sector economist.  However, it is an excellent subject for any degree as a high grade in economics shows that s student has a wide range of skills which are very attractive to universities and employers.