you're welcome - i love talking about economics
i do AQA economics, so some things may differ to other specs although a lot of the basic stuff you cover should be the same.
the first things i did in my first term was supply and demand to understand how prices are set within a market. then, learning about things like minimum and maximum prices set by the government and how this impacts supply and demand of a certain good. (and you can see how the theory you learn relates to real world markets where prices have been set by the government, as opposed to by supply and demand). the main topic in unit 1 is market failure. so you learn about how some markets may be not socially efficient (such as the oversupply of alcohol and cigarettes) and what has to be done to correct this market failure - for example, in an essay question, you may be asked, do these bad things (demerit goods) need to be banned? but then you can evaluate, and write about how banning alcohol/cigarettes may be good for the NHS saving money, but it could cause unemployment for people selling these products - it could also encourage a black market forming. i would also say that economics is quite a creative subject, because you really get to discuss a whole range of things in the essays. for example, if banning cigarettes/alcohol doesn't work, you could propose other solutions to fix this market failure. you could write about maybe how the government should be encouraging substitutes for cigarettes instead, which are less harmful. you could also discuss how advertising could be used to reduce consumption of cigarettes, etc. there's always a chance to talk about real-world events in economics too, which is why it is such a dynamic subject! for example, you can talk about how there is regulation in place for all cigarettes to have "smoking kills" labelled on them - to try and deter people from consuming them. however, you can always argue that this doesn't stop consumption, as cigarettes are addictive anyway - this is where you can use further economic theory you'll learn about, like elasticity, to evaluate this point further.
(sorry i'm literally bombarding you with information loool)
the second unit i learnt about was the macroeconomy - which is basically the country's economy as a whole, as opposed to individual markets for certain goods. this is very interesting as you get to learn about GDP, exchange rates, trade. policies used by the government to regulate the level of demand in the economy - extremely fascinating, relevant to everyday-life stuff.
at the end of last year, i also learnt about labour markets (although it is a year 2 topic). that's all about how wages are set, how trade unions influence wages, how and why employers employ a certain amount of people, etc. i also slightly learnt about development economics, which, in the a-level, is all about taxes and benefits, ways to relieve poverty, etc. throughout the year, i also learnt about behavioural economics too (applicable for unit 1 really), so that's all about why consumers act the way they do and make the decisions they do, and why governments may not always introduce the best policies. suuuuuper interesting stuff.
this year, i've just finished unit 3, which is all about market structures - diagrammatical ways of representing things like oligopolistic markets (eg. the supermarket industry), monopolies, things like that. there's quite a few graphs but it's all very logical and very exciting!
the topic i'm just starting right now is all about financial markets. i don't really know too much about what this one will entail, but i'm enjoying it so far. (we're currently just talking about unemployment and inflation, which you would've been introduced to in unit 2).
what's really great is that all the economic theory you learn links together, so it all makes a ton of sense. it's like learning little pieces of a jigsaw puzzle to get the bigger picture. my favourite topics in economics are, if it's impossible to tell by now, everything!
there's not a single dry thing i've learnt about, legitimately. what is also particularly enjoyable is the way the economic theory allows you to understand the news, economic books, things like that! (books relating to economics are very, very interesting by the way. i recommend reading a couple, like Freakonomics which is a more fun one, or something like why nations fail which is very excellent and very comprehensive!)
sorry once again for literally writing an essay on this! but i hope this was of some help and not too boring to read haha