AS Level Economics · Edexcel (Pearson) (reformed)

Dates Available 
Week 1: Monday 3 - Friday 7 April
Week 2: Monday 10 - Friday 14 April
Week 3: Monday 17 - Friday 21 April

Boards
Edexcel (Pearson) 8ECO

Length of Course
20 hours

Times
9am to 1pm daily

A large focus of the course is to teach students how to translate their economic knowledge and understanding of theory and present it in the contextualised structure examiners are looking for. This is a key strategic skill for A level candidates, and participants in the course will benefit from the shared knowledge and experience of tutors that work as examiners for the exam boards.

The course examines key topic areas and extensive use will be made of exam-based AS level questions to illustrate relevant principles. The course will cover most aspects of the syllabus. Particular emphasis will be placed on topic areas that students generally find the most difficult.

The course consists of the following topics:

Theme One · Economics as a Social Science

Section 1

1. Positive and normative economic statements
2. The economic problem
3. Production Possibility Frontiers
4. Specialisation and the division of labour
5. Free-market, mixed and command economies

Section 2 

1. Rational Decision Making
2. Demand
3. Price, income , and cross elasticities of demand
4. Supply
5. Elasticity of supply
6. Price determination
7. Price Mechanism
8. Consumer and producer surplus
9. Indirect taxes and subsidies
10. Alternative views to consumer behaviour

Section 3

1. Types of market failure
2. Externalities
3. Public goods
4. Information gaps

Section 4

1. Government intervention in markets
2. Government failure

Theme Two

Section 1

1. Economic growth
2. Inflation
3. Employment and unemployment
4. Balance of payments

Section 2

1. The characteristics of AD
2. Consumption (C)
3. Investment (I)
4. Government expenditure (G)
5. Net trade (X - M)

Section 3

1. The characteristics of AS
2. Short-run AS
3. Long-run AS

Section 4

1. National income
2. Injections and withdrawals
3. Equilibrium levels of real national output
4. The multiplier

Section 5

1. Causes of growth
2. Output gaps
3. Trade (business) cycle

Section 6

1. Possible macroeconomic objectives
2. Demand-side policies
3. Supply-side policies
4. Conflicts and trade-offs between objectives and policies