What will students learn?
The qualification is split into 4 Themes. Two focus on Microeconomics (Themes 1 & 3) and two on Macroeconomics (Themes 2 & 4). Students will have two teachers, each with a specialism in Macroeconomics or Microeconomics.
Theme 1 introduces students to the microeconomic nature of economics, looking at economic problems and the ways economists think and work. Students will learn how to apply supply and demand analysis to real-world situations and be able to offer explanations of consumer behaviour, among other things.
Theme 2 introduces the key measures of economic performance and the main instruments of economics policy primarily in a UK context. Students will be introduced to the aggregate demand and aggregate supply model so that they can use it to analyse changes in real output and the price level. Then they will examine the use of demand and supply side policies by the government to influence the economy.
Theme 3 builds on the content of Theme 1 and examines how the number and size of market participants, and the level of contestability, affect the pricing and nature of competition among firms. Supply and demand analysis is specifically applied to the labour market to see how wages are determined in competitive and non-competitive markets.
Theme 4 builds on the content of Theme 2 and applies it to a global context. Students will be expected to understand the significance of globalisation, international trade, the balance of payments and exchange rates. They will also examine public finance, macroeconomic policies and the role of the financial sector in a global context.
In KS5 students will study
Microeconomics: Nature of Economics, How Markets Work, Market Failure, Government Intervention
Macroeconomics: Measures of Economic Performance, Aggregate Demand & Aggregate Supply, National Income & Economic Growth, Macroeconomic objectives and Policies
Microeconomics: Business Growth & Objectives, Revenues & Costs, Market Structures, Labour Market, Government Intervention
Macroeconomics: International Economics, Poverty & Inequality, Emerging & Developing Economies, The Financial Sector, The Role of the State in the Economy
How will students receive feedback?
At Paddington, all students will receive regular feedback from formative assessment tasks. Within the curriculum, specific tasks are allocated for feedback. This ensures all students gain regular feedback. Teachers will mark student work and provide targeted feedback that enables students to improve their work and make progress. To support student understanding, teachers plan high-quality re-teach time to prepare students for their feedback. Across each term, students will receive feedback from multiple tasks.
What examinations / assessments do students have at the end of KS5?
Exam board: Edexcel (Pearson Edexcel Level 3 Advanced GCE in Economics A)
Assessment for Economics A level includes three exam papers:
Paper 1: Markets and Business Behaviour - 35% of qualification
Paper 2: The National and Global Economy - 35% of qualification
Paper 3: Microeconomics and Macroeconomics - 30% of qualification
All three exam papers are two hours' long and are marked out of 100.
What resources can be used to support learning?