Economics A Level
At AS-Level, the course gives a general introduction to the world of economics, with modules on microeconomics and macroeconomics. One can expect to explore the notion of a market, studying topics such as demand and supply, elasticity and market failure. The macroeconomics unit gives an introduction into macroeconomic objectives (economic growth, inflation, unemployment and balance of payments), exchange rates, monetary policy and fiscal policy.
Microeconomics at A2-Level covers mainly business economics and the distribution of income. Areas of study is usually around market structures (monopoly, oligopoly and perfect competition), economic efficiency and the labour market. There are options for studying paricular industries, such as Transport, for the micro module.
A2-Level macroeconomics builds on ideas taught at AS-Level. The topics are covered in greater detail, and usually involve evaluating policy by using theory (for example, the Phillips Curve or monetarism).
In terms of exams, different exam boards have different style of exams. The main type of questions are: essays (sometimes split into two parts), short questions and data responses. Some boards may have a limited amount of multiple-choice questions.
Scottish Standard Grade
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