Economics

Economics is a live subject, which is probably why it is so popular with  students looking for a new challenge after GCSEs. Not a day goes by without a  news item appearing in the quality press that is directly relevant to the A-level  Economics course. If you want to have a rough idea what you would study over  the two years of the A-level course, do please scroll down, but regardless of  the syllabus your teachers at Brighton College will be continually referring to  real world events, using newspaper articles and websites in their lessons.

There are also other activities on offer such as Shares4Schools, extension lessons for those planning to take the subject further, and the prestigious Target 2.0 national competition in which Brighton College has been national semi-finalists for the last two years.

As with most A-level subjects (Maths and the sciences are the exceptions), you will have two exams in the Lower 6th and two in the Upper 6th sat in January and June respectively. There will be no coursework. At Brighton College, we work towards the Edexcel specification for Economics.

Lower 6th (Year 12)

The structure of AS Economics:

• Unit One: This is called "Competitive Markets - How They Work and Why They Fail". You will cover the basics of Economics - the vital tools of supply and demand. You will also look at some important applications of supply and demand - why has the house price fallen recently, for example? Once we have learned how basic markets work, we then go on to consider why markets might fail. For example, why are roads congested? Why are fish stocks falling? Would street lights be provided without government support? We try to answer these questions and many others. You will sit the exam in the first January. It consists of eight 'supported' multiple choice questions plus a choice of one out of two data response questions. The 'supported' multiple choice questions require a brief explanation of the answer you pick. This is to avoid lucky guessing! The data response (or 'stimulus') questions involve some numerical data or some written text from a newspaper with four short questions and two longer, 'mini-essay' type questions.
• Unit Two: This is called "Managing the Economy". This is the unit that covers 'big' issues that affect the whole economy. Why is inflation so high now after years of record lows? Why has unemployment not risen that much despite the recent recession? Why does the UK import more goods than it exports? Does it matter? We look at lots of 'macro' issues, and also learn the tools of macroeconomic analysis - aggregate demand and aggregate supply curves. You will sit the exam at the end of the Lower Sixth, in June. You will have a choice of one out of two data response questions. Each question will be in seven or eight parts; clearly there are more questions than for unit one because there is no multiple choice. The early parts tend to be much shorter questions, perhaps requiring a calculation. The final part will be worth much more marks and will require extended prose and evaluation (a vital skill that you will learn studying Economics).

Upper 6th (Year 13)

The structure of A2 Economics:

• Unit Three: This is called "Business Economics and Economic Efficiency". Here you will cover the basics of how industry works. You will look at the market structures of monopoly, oligopoly and perfect competition. Which is the most realistic? In terms of applied topics, you will look at the contentious issues of privatisation and competition policy. Was privatisation a good thing? Should government be allowed to stop mergers? You will sit the exam in the January of your Upper Sixth year. As with unit 1, you will face eight 'supported' multiple choice questions plus a choice of one out of two data response questions. The 'supported' multiple choice questions require a brief explanation of the answer you pick. The data response (or 'stimulus') questions involve some numerical data or some written text from a newspaper with four "mini-essay" style questions. Time allowed: one and a half hours.
• Unit Four: This is called "The Global economy". This unit uses the macro basics learnt in unit two and takes them further. Is globalisation a good thing? Will the current world recession create a protectionist threat? Is there such a thing as a 'natural rate' of unemployment? Should George Osborne raise taxes to pay for the spending on health and education? Is the growth in the Chinese economy a serious threat? You can see how relevant daily news stories can be to the teaching of this subject. For your final exam in the June of the Upper Sixth, you will have a choice of one out of three essay questions (in two parts) and a choice of one out of two data response questions. Time allowed: 2 hours. This means that you have about 60 minutes for each question. The choice is reasonably good, but the questions are harder and much more like the essay of the old days!