Year 12 and Year 13 Economics (AQA)

The Economic A-Level course is designed to equip students with a knowledge and appreciation of one of the most relevant topics in society today – The Economy; what is going on, why has it happened and when will things improve.

Economics is 100% exam assessed and consists of two exams at the end of Year 12 if students wish to only acquire an AS qualification, or three exams at the end of Year 13 if students wish to acquire an A-Level qualification.

 

Topics covered during AS Economics include;

 

The Operation of Markets and Market Failure

  • Economic methodology and the economic problem
  • Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets

The National Economy in a Global Context

  • The measurement of macroeconomic performance
  • How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Macroeconomic policy

 

Assessments held at the end of Year 12 – AS only:

 

Paper 1: The operation of markets and market failures

1hr 30mins

70 marks

50% of AS

Section A: 20 multiple choice questions worth 20 marks

Section B: data response questions requiring written answers, choice of one from two contexts worth 50 marks

 

Paper 2: The national economy in a global context

1hr 30mins

70 marks

50% of AS

Section A: 20 multiple choice questions worth 20 marks

Section B: data response questions requiring written answers, choice of one from two contexts worth 50 marks

 

 

 

Topics covered during A-Level Economics are as above (without the assessments) and also include:

 

Individuals, firms, markets and market failure

  • Economic methodology and the economic problem
  • Individual economic decision making
  • Price determination in a competitive market
  • Production, costs and revenue
  • Perfect competition, imperfectly competitive markets and monopoly
  • The labour market
  • The distribution of income and wealth: poverty and inequality
  • The market mechanism, market failure and government intervention in markets

The National and International Economy

  • The measurement of macroeconomic performance
  • How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies
  • The international economy

 

 

Assessments held at the end of Year 13 – A-level only:

 

Paper 1: Markets and market failures

2 hours

80 marks

33.3% of A-level

Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks

Section B: essay questions requiring written answers, choice of one from three worth 40 marks

 

Paper 2: The national economy and international economy

2 hours

80 marks

33.3% of A-level

Section A: data response questions requiring written answers, choice of one from two contexts worth 40 marks

Section B: essay questions requiring written answers, choice of one from three worth 40 marks

 

Paper 3: Economic principles and issues

2 hours

80 marks

33.3% of A-level

Section A: multiple choice questions worth 30 marks

Section B: case study questions requiring written answers, worth 50 marks

 

 

Additional information and resources:

  1. http://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136/introduction
  2. http://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136/specification-at-a-glance
  3. http://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136/specification-at-a-glance
  4. http://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136/assessment-resources