Economics

The subject matter reflects the wide ranging, challenging, topical and relevant nature of Economics, and the aim is to develop the ability to understand, analyse and convey economic ideas and relationships in literary, mathematical and diagrammatic forms and evaluate the likely success of economic models and theory. Given the above, and the opportunities for group work, ICT based research and individual/small group presentations, Economics is an ideal vehicle for nurturing and demonstrating key BLP skills relevant to higher education and the world of work.

Staff Names and Roles

  • Mr K. Jackson.  Subject Leader for Economics, Key Stage 4 Enrichment Co-ordinator and Leader of Floyd House

Useful Websites to support your son’s learning

Opportunities outside of lessons

  • Visits to University of Birmingham and University of Nottingham take place in June/July of Year 12.
  • The King Edward VI Aston Economic Society meet on a fortnightly basis. Speakers from local industry and local universities are invited in to school to discuss and debate topical economic issues.
  • The KE Aston Economics book club meets on a regular basis throughout the academic year. Students of all ages meet to discuss a wide range of economics based books.  This book club provides an excellent opportunity for students to carry out wider reading in preparation for Oxbridge/University applications and for younger students interested in Economics to develop their understanding of topical issues.
  • Year 12 students are also encouraged to attend Masterclasses at local universities. They are usually a lecture style session focusing on one aspect of economics.

 

Course information

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YEAR 12 & 13

Specification and Topics Covered at A Level

Economics is a two year linear course Students follow the content, although not exactly the same order, laid out in the AQA Advanced Level Economics specifications (Code no: 7136). Full details of the specifications, as well as much other useful information, can be found

on: http://filestore.aqa.org.uk/resources/economics/specifications/AQA-7135-7136-SP-2015-V1-2.PDF.

The course consists of two main sections.  The first section covers mainly microeconomic issues and concepts and the second section covers mainly macroeconomic issues.  However, students need to appreciate that microeconomics and macroeconomics are not distinct areas of study.  For example, there are occasions when microeconomic principles often provide fundamental insights into understanding aspects of the macroeconomy.  Similarly, economic issues and problems often contain both a microeconomic and macroeconomic dimension.

In microeconomics, topics covered include:

  • economic methodology and the economic problem
  • individual economic decision making and behavioural economics
  • price determination
  • Business economics and market structures
  • The labour market, wage determination, trade unions and discrimination
  • Poverty and inequality and the distribution of income and wealth
  • Market failure and government intervention and government failure.

In macroeconomics, students will study aspects of the national and international economy.  Topics include:

  • Macroeconomic indicators and the objectives of government economic policy
  • How the macroeconomy works
  • Economic performance including economic growth, unemployment, inflation, interest rates and the balance of payments
  • Financial markets, monetary policy and the regulation of the financial system
  • Fiscal and supply side policies
  • Globalisation and international trade
  • Development economics

 

 

How will your son be assessed at A Level? 

The A Level specification is designed to be taken over two years with all assessments taken at the end of the course in Year 13. The assessment is designed to allow students to demonstrate their ability to draw together their knowledge, skills and understanding from across the full course of study and also to provide the opportunity for extended responses.

At A Level students will sit three exams at the end of Year 13:

Paper 1 – Markets and Market Failure

Paper 2 – The National and International Economy

Paper 3 – Economic Principles and Issues.

Common Assessment tasks will be conducted on a half-termly basis and an A Level grade (A*-E) will be provided to help measure and monitor the progress of students. These will follow the same format as examination questions. In addition, students will have further assessment on a fortnightly basis, again using the form of past examination questions.

How could you support your son to learn during Years 12 & 13?

One of the ways you can support your son is to encourage him to use various media sources in order to gain further knowledge about current economic problems and issues. Access to a quality newspaper at home is desirable but there are a number of online newspapers available which at this moment in time are free to access such as The Telegraph, The Guardian and The Independent.

Students are also able to purchase a subscription to the Economist magazine at a very special rate. This year, the subscription cost was £15 for 33 issues and as each issue costs £4, this gives students a considerable saving. Students will receive a weekly copy of the magazine during term time. This offer is available to all students, not just those studying economics.

  • YEAR 12 & 13

Latest Tweets

Mr Jackson

Excellent wider reading for A Level Economics students. Also very useful for one of the topics on the @KEASTONVI House Economics competition twitter.com/micro_econ/sta…