What do you do in A Level Economics? Watch

Nick_888
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So what do you actually do? I'm just curious as I'm thinking of what other A level subjects I would like to study. At the moment, I have chosen Maths, Physics and Computer Science. I was wondering if I should do Economics to make my choices varied.

Please let me know what you think of it and what other subjects you took.

Thanks
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danny111
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How about doing 4 and not just 3 subjects?
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Nick_888
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(Original post by danny111)
How about doing 4 and not just 3 subjects?
I'm going to do the 3 I've said and maybe Economics so I was just wondering what Economics is like...
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Robbie242
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(Original post by Nick_888)
So what do you actually do? I'm just curious as I'm thinking of what other A level subjects I would like to study. At the moment, I have chosen Maths, Physics and Computer Science. I was wondering if I should do Economics to make my choices varied.

Please let me know what you think of it and what other subjects you took.

Thanks
Hey there I'm taking alevel maths, history and economics at the moment.

Economics mainly consists for the OCR exam board of
- Graphs LOTS OF THEM (supply, demand, equilibrium elasticity)
- Definitions eg what is a market
- Calculations such as cross elasticity
- Theoretical explanations usually with a case study eg if price falls what will happen to demand (can be in much greater depth than this)

If you are doing AQA you get a lot of multiple choice questions.

With maths they are split into cores
C1, C2, C3 and C4 along with the applied modules S1,D1,M1
To succeed in alevel maths you need to revise a lot! (not too much) At the start of alevel I revised and scored 58% on the entrance test, later on I keep scoring 100%'s constantly (even got 80% on my first past paper) If you got time read ahead.
If you enjoy maths then you'll love alevel maths its all about working out complex solutions and you'll be introduced to new things such as differentiation, integration the chain rule, logs etc.
Can't say anything about the others any other questions send them my way!
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Nick_888
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(Original post by Robbie242)
Hey there I'm taking alevel maths, history and economics at the moment.

Economics mainly consists for the OCR exam board of
- Graphs LOTS OF THEM (supply, demand, equilibrium elasticity)
- Definitions eg what is a market
- Calculations such as cross elasticity
- Theoretical explanations usually with a case study eg if price falls what will happen to demand (can be in much greater depth than this)

If you are doing AQA you get a lot of multiple choice questions.

With maths they are split into cores
C1, C2, C3 and C4 along with the applied modules S1,D1,M1
To succeed in alevel maths you need to revise a lot! (not too much) At the start of alevel I revised and scored 58% on the entrance test, later on I keep scoring 100%'s constantly (even got 80% on my first past paper) If you got time read ahead.
If you enjoy maths then you'll love alevel maths its all about working out complex solutions and you'll be introduced to new things such as differentiation, integration the chain rule, logs etc.
Can't say anything about the others any other questions send them my way!
How are you finding it? Easy? Hard? As you're with OCR, how is it set out? Do you have any coursework to do?

Sorry for all the questions
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chelseafan
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I do it currently with ocr and love it. It's not too difficult, there is a bit of simple maths involved and a lot of graph work. Learning definitions is key to succeed. I would definitely recommend picking it.
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Robbie242
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(Original post by Nick_888)
How are you finding it? Easy? Hard? As you're with OCR, how is it set out? Do you have any coursework to do?

Sorry for all the questions
I'm finding it fairly hard in the fact that you've got to be spot on with your definitions and explanations, No coursework work is set out into 8 chapters all covering a different area of economics.

Ch1 - Introducing economics
Ch2- The nature of demand
Ch3- The nature of supply
Ch4-Using the demand and supply model
Ch5 Prices, resource allocation and market failure
Ch6-Externalities
Ch7-Other forms of market failure
Ch8- Government intervention and government failure

You gotta keep up to date do homework + extra note taking practice exams and revise.
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Incorrect.
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(Original post by Robbie242)
I'm finding it fairly hard in the fact that you've got to be spot on with your definitions and explanations, No coursework work is set out into 8 chapters all covering a different area of economics.

Ch1 - Introducing economics
Ch2- The nature of demand
Ch3- The nature of supply
Ch4-Using the demand and supply model
Ch5 Prices, resource allocation and market failure
Ch6-Externalities
Ch7-Other forms of market failure
Ch8- Government intervention and government failure

You gotta keep up to date do homework + extra note taking practice exams and revise.
Stop talking ****.

It's easy. Like do-no-work-all-year-revise-before-exams-get-full-marks easy.
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Nick_888
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(Original post by chelseafan)
I do it currently with ocr and love it. It's not too difficult, there is a bit of simple maths involved and a lot of graph work. Learning definitions is key to succeed. I would definitely recommend picking it.
(Original post by Robbie242)
I'm finding it fairly hard in the fact that you've got to be spot on with your definitions and explanations, No coursework work is set out into 8 chapters all covering a different area of economics.

Ch1 - Introducing economics
Ch2- The nature of demand
Ch3- The nature of supply
Ch4-Using the demand and supply model
Ch5 Prices, resource allocation and market failure
Ch6-Externalities
Ch7-Other forms of market failure
Ch8- Government intervention and government failure

You gotta keep up to date do homework + extra note taking practice exams and revise.
Could you give me some examples of the definitions you have to learn please?
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chelseafan
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(Original post by Nick_888)
Could you give me some examples of the definitions you have to learn please?
Ok here's an example. A question could be define the economic problem. The answer and definition would be the economic problem refers to the fact that there are unlimited wants/needs but there are limited resources. This results in scarcity and means decisions have to be made.
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Robbie242
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(Original post by Nick_888)
Could you give me some examples of the definitions you have to learn please?
Theres a ton lets start with the basics

Opportunity cost - the next best alternative forgone
Economic Problem - resources are scare people have infinite wants, meaning that wants exceed resources
Production possibility curve: a curve showing the maximum combinations of goods or services that can be produced in a set period of time given the available resources
Positive statement- a statement which is a fact
Normative statement - a statement which is an opinion
Market equilibrium - a situation that occurs in a market when the price is such that the quantity that consumers wish to buy is exactly balanced by the quantity that firms wish to supply.
Price elasticity of demand- a measure of the responsiveness of demand to changes in price
Cross elasticity of demand- a measure of the sensitivity of quantity demanded of a good or service to a change in the price of some other good or service.
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chelseafan
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(Original post by Incorrect.)
Stop talking ****.

It's easy. Like do-no-work-all-year-revise-before-exams-get-full-marks easy.
No.
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Incorrect.
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(Original post by chelseafan)
No.
Yes. Shouldn't you be revising economics if it's so difficult?
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Robbie242
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(Original post by Incorrect.)
Yes. Shouldn't you be revising economics if it's so difficult?
Don't have to be revising every second of the day.
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username807367
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I do Physics, Maths and Economics. I'm on AQA for economics and it's a nice break from calculations and stuff in physics and maths, just taking notes for an hour. That sounds boring but it is quite interesting.

It's a lot easier to revise than maths and physics because (on AQA at least) the exams are formulaic and you learn how to answer them to gain max. marks, For example AS 12 mark question, 4 marks for fully labelled diagram, 2 marks for relevant definitions, 4 marks explain the shift/relevance of the diagram, 4 marks for another explained relevant point, done 14/12 marks.

I find economics an interesting addition to my subjects as it is a proper real-life subject and you can really relate the supply/demand stuff to everything you see around you and every time I see an article about the economic situation, I read it and actually understand it which I find amazing.
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bad_moose
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I'm doing it and I really enjoy it. It's a lot of graphs (supply curves, demand curves, production possibility curves etc.) and definitions (which are easy to learn) and explaining diagrams that you've drawn. As long as you listen and make sure that you understand what you've been taught then it isn't a problem. It's quite repetitive but that's a good thing because you get a good understanding of what you're learning. It's a really good A level to have, it gives you a good understanding of how the world works and employers like to see it.
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Alex-Torres
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(Original post by Nick_888)
So what do you actually do? I'm just curious as I'm thinking of what other A level subjects I would like to study. At the moment, I have chosen Maths, Physics and Computer Science. I was wondering if I should do Economics to make my choices varied.

Please let me know what you think of it and what other subjects you took.

Thanks
Watch some Economics tutorials at www.youtube.com/user/multiplexinggamer , you'll get a gist of what it's like from there
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alizaxo
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what is the difference between a business a levell and economics? what is the future of both ie jobs??
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artful_lounger
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It would be inadvisable to do four subjects where two of them are not Maths and Further Maths. It's considerably more work than that combination to take any other four, and Economics does not allow you to apply to any courses you couldn't already apply to - as no Economics course I know of requires Economics, and you have the requisite A-level Maths already.

You would be better advised to take Further Maths, which improves your prospects considerably for the "top" courses in Economics (and Maths, Computer Science, Physics and Engineering...). Beyond those "top" universities, it's also very useful to cover the material earlier when you have more potential for individual attention from your teacher(s), and will make first year a bit easier, which is helpful while you're settling in to being newly independent and in a new social environment.
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