Economics

Why is there inequality in society and how do we solve it? How can governments encourage growth while controlling inflation and inequality? How can we cure obesity and alcohol problems? Economics is a subject that spans the individual financial issues companies and individuals face at the ‘micro’ level and the ‘macro’ decisions of national importance.

A Level Economics brings students face to face with life’s most important questions and challenges them to make considered and practical decisions about them.

Studying Economics demands an all-round mindset. On the one hand, you’ll be developing your logical problem-solving ‘detective’ brain that allows you to analyse and interpret statistics clearly and accurately. On the other you’ll be honing your ability to write well-argued, critical, evaluative essays and to discuss and communicate complex ideas clearly and convincingly. Neither solely an art nor all science, Economics is a subject that breeds versatile, practical thinkers who are well equipped for any field.

If you are interested in current affairs and the world around you then this is definitely the subject for you.

 

Read the Economics Blog here

A level Course Requirements and Curriculum

Students study the AQA A Level course. For full details of the course and its assessment please refer to the AQA website or the Harrodian Sixth Form Prospectus.

Candidates are not expected to have studied Economics before starting the course. Although no specific GCSEs are required Economics is a conceptual and relatively abstract course and requires a high degree of literacy and numeracy skills. The course is largely essay based with much of the workload completed outside lessons. Students need to be comfortable with independent study and be thoroughly self-motivated.

Brief course summary:

Individuals, firms, markets and market failure

  1. Economic methodology and the economic problem
  2. Individual economic decision-making
  3. Price determination in a competitive market
  4. Production, costs and revenue
  5. Perfect competition, imperfectly competitive markets and monopoly
  6. The labour market
  7. The distribution of income and wealth: poverty and inequality
  8. The market mechanism, market failure and government intervention in markets

The national and international economy

  1. The measurement of macroeconomic performance
  2. How the macroeconomy works: the circular flow of income, AD/AS analysis, and related concepts
  3. Economic performance
  4. Financial markets and monetary policy
  5. Fiscal policy and supply-side policies
  6. The international economy

Extracurricular Trips

Students studying A Level Economics need to understand the importance of the City of London and its role in stimulating the economy, so every June we organise a trip to the Bank of England and other city institutions.

Staff

Head of Economics: Edward Marsh (email: emarsh@harrodian.com )

Teachers of Economics: Edward Marsh, David Behan (email: dbehan@harrodian.com)