A-level Economics

Welcome To A-level Economics

What is Economics?
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways. If you require any further information then please see any of the business studies department in L-Block.

We follow the market leading AQA specification. The A level course runs over 2 years while a separate AS qualification can also be gained at the end of the first year. The second year examination tests the full 2 years of study.

New AS/A Levels from September 2015

AS Level
  • The AS (Advanced Subsidiary) level is a stand-alone qualification examined at the end of the first year.
  • The grade you achieve for this qualification will not count towards your final A level grade.
  • An AS pass is awarded a grade from A to E
A Level
  • The A level qualification is examined at the end of the second year
  • You will be tested on the work covered in the AS qualification (if relevant) as well as the work you cover in your second year.
  • It is possible to take an AS qualification without going on to complete the full A Level.
  • An A level pass is awarded a grade A* to E
Economics AQA - About the Course

Year 1


The operation of markets and market failure
  1. Economic Methodology and the economic problem
  2. Price determination in a competitive market
  3. Production, costs and revenue
  4. Competitive and concentrated markets
  5. The market mechanism, market failure and government markets
The National economy in a global context
      6. The measurement of macroeconomic performance
      7. How the macroeconomy works
      8. Economic performance
      9. Macroeconomic policy

Year 2

Individuals, firms, markets and market failure
  1. Economic Methodology and the economic problem
  2. Individual economic decision making 
  3. Price determination in a competitive market
  4. Production, costs and revenue
  5. Perfect competition, imperfectly competitive markets and monopoly
  6. The labour market
  7. The distribution of income and wealth
  8. The market mechanism, market failure and government intervention
The national and international economy
      9. The measurement of macroeconomic performance
    10. How the macroeconomy works
    11. Economic performance
    12. Financial markets and monetary policy
    13. Fiscal policy and supply-side policies
    14. The international economy

AS-Level Assessment

Assessment is by two one-and-a-half hour written exams at the end of year one. Each exam counts 50% towards the AS qualification.
  • Paper 1: Two compulsory sections including multiple choice, short answer questions and data response questions - Based on content 1-5 (Year 1)
  • Paper 2: Two compulsory sections including multiple choice, short answer questions and data response questions - Based on content 6-9 (Year 1)

A-Level Assessment
Assessment if by three two hour written exams at the end of the course. Each exam counts 33.3% towards the A-level grade.

  • Paper 1: Markets & Market Failure - Data response questions and essay questions based on content 1-8.
  • Paper 2: National & International Economy - Data response questions and essay questions based on content 9-14
  • Paper 3: Economic Principles & Issues - Multiple choice questions and case study questions requiring written answers. Based on content 1-14.

Quantitative Skills - Both the AS and A-level assess quantitative skills, making up a minimum of 20% of the overall A-Level marks. 

To find out more about the course visit the exam board website here - AQA A-Level Economics