Studying AS and A2 Economics provides you with an opportunity to investigate a broad range of economic problems and investigates why governments actually intervene in an economy. How do you believe the UK electorate would react to rising unemployment levels - especially in the 16-25 age group, closures to major hospitals and schools, changes to the UK state benefits system? Economics investigates how the elected government of the day is measured i.e. in their ability to manage the economy efficiently and effectively. You will be introduced to a wide range of economic terms and phrases regularly cited in the newspapers and press such as inflation, economic growth, competition, interest rates' etc. The aim of the course is to develop your knowledge of the economic world and its principles at a level, which will equip you to gain an advanced national qualification.
• Year 1 modules. You will complete two units: Markets and Market Failure and The National Economy. You will study how markets operate, how and why businesses supply goods and services to the market, how and why consumers demand certain goods and services, how demand and supply interact, and the reasons why markets can fail. You will also explore how and why governments intervene in the market place through their policies and how this does not always produce the desired result! You will also gain an appreciation of how different markets operate within one economy and the effect of the European Union policies and directives. You will also learn about the theory behind how scare resources should be managed and allocated for maximum gain.
• Year 2 modules. You will complete two units: Business Economics and the Distribution of Income and The National and International Economy.