Examinations are a mixture of multiple choice, short-answer and data response questions and essays.
Paper 1: Markets and business behaviour (35% of A Level), 2 hours, 100 marks Tests Themes 1 and 3.
Paper 2: The national and global economy (35% of A Level), 2 hours, 100 marks Tests Themes 2 and 4.
Paper 3: Microeconomics and macroeconomics (30% of A Level), 2 hours, 100 marks Tests all four Themes.
Theme 1: Introduction to markets and market failure
This theme focuses on microeconomic concepts. Students will develop an understanding of:
• The nature of economics
• How markets work
• Market failure
• Government intervention
Theme 2: The UK economy – performance and policies
This theme focuses on macroeconomic concepts. Students will develop an understanding of:
• Measures of economic performance
• Aggregate demand and supply
• National income and economic growth
• Macroeconomic objectives and policy
Theme 3: Business behaviour and the labour market
This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics:
• Business objectives and growth
• Revenues, costs and profits
• Market structures
• Labour market