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If you have a passionate interest in current news stories regarding economic issues and are interested in how they affect you, then Economics is the course for you. You will study microeconomics; developing an understanding of the actions of governments, individual firms and consumers. For example, have you ever wondered why the price of an Apple iPhone has increased? Or why governments continue to increase the price of a packet of cigarettes and why consumers will continue to buy them?
Have you ever watched the news and heard a story about the rate of inflation falling, or GDP rising and not understood? By studying macroeconomics, you will gain insight into how the economy is managed. This will include looking at how a change of inflation, national income, unemployment and international trade affects you. You will also gain knowledge in how to manage the economy by using monetary, fiscal and supply-side policies.
Five GCSEs at grade 4 or above. You should have at least grade 5 in GCSE English and Mathematics. It is not necessary to have studied Economics at GCSE.
Microeconomics: this unit looks at the supply and demand of both goods and labour. Have you ever wondered why the price of a Freddo bar keeps increasing? Have you ever wondered why Lionel Messi earns in just seven days what many of his fans will earn in an entire decade?
Macroeconomics: this unit looks at macroeconomic issues, such as inflation, unemployment, exports and imports and how these indicators affect the UK.
Do you want to know how much influence the financial sector has on the UK economy? What is the role of the Bank of England? Is HS2 a waste of resources? How much does the country owe and who do we owe the money to?
You will also play the role of the government. Should the NHS be privatised? Should the government put a minimum price on alcohol?
NOTE: Mathematics is a feature of this complex but exciting and thought provoking subject.
You will encounter a variety of teaching techniques in class. There will be a certain amount of formal teaching plus opportunities for you to work individually or in groups. You will also develop your verbal skills by preparing presentations for the rest of the class. Videos and newspaper articles will be used as sources for research and class discussions, with the aim of linking economic theory to current issues.
100% exam – Paper one: Microeconomics, Paper two: Macroeconomics, Paper three: Theme paper.
You will be expected to provide your own textbooks (£24.99 each):
- OCR A Level Economics Book 1, Peter Smith
- OCR A Level Economics Book 2, Peter Smith
