A Level Economics (Reformed 2015)

What is Economics?

Economics is the study of markets, in particular how they work, why they fail and how they can be effectively managed. Britain's economic performance both at home and abroad can be assessed and policies designed to promote welfare and growth can be evaluated.

What sort of student does it suit and what will you get out of the course?

This course will appeal to students who enjoy studying a subject that affects their everyday lives. No previous experience of economics is required but an interest in national and international affairs is desirable. Economics can be combined with social science and humanities subjects. You should learn how to develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions. By the end of the course you should be able to apply economic concepts and theories in a range of contexts and to appreciate their value and limitations in explaining real-world phenomena. You should also know how to analyze, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it.

AS Level

MPW approach to AS study

Economics is taught by a small cohort of enthusiastic teachers, who are passionate about the subject and sharing their subject knowledge with their students. Unlike many other colleges MPW offers students the opportunity to apply economic theory learnt in the classroom to real past paper questions and case studies from an early stage. Familiarity with the demands of the assessment objectives throughout the course will build student’s confidence and they will know exactly what is expected of them in the examination.

Economics is a subject which continues to dominate the headlines, and at MPW we embrace the changing nature of economics by encouraging classroom discussion and debate on the changing economic climate therefore differentiating the teaching style on a regular basis.

Due to the recent changes in the specification it has become increasingly more important that students are willing and able to participate in independent research around a wide range of markets and economies in order to build a strong collection of examples which will re-enforce economic judgements made in the examination.

AS Specification (Economics A, First certification 2016)

Edexcel 8EC01

Theme 1 (9EC0/01)
1h 30m exam 50%

Markets: Introduction to markets and market failure

This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. At the end of this unit, students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness. The examination consists of supported multiple choice questions and one data response question out of a choice of two questions.

 

Theme 2 (9EC0/02)
1h 30m exam 50%

Managing the Economy

This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognize the assumptions involved; argue for different approaches and identify criteria for success. The examination consists of one data response question out of a choice of two questions.

Reading List

AuthorTitlePublisher
Smith, Peter Economics  Hodder Education
Anderton, Alain Economics  Pearson

 

A Level

MPW approach to A level study

The teaching methodology applied to A2 study is essentially the same as for the AS however there is greater focus on independent reading and research when covering the fourth topic area. Due to the extent of necessary research students are encouraged to participate in class discussions and prepare presentations which would be conveyed to the whole class, although some students feel uneasy when it comes to presentations it is an essential task which will help prepare them for the necessary demands of university coursework.

Providing students with a well-structured and logical scheme of work is important as it should help them to work in a disciplined and consistent manner, with clear targets and deadlines. Regular revision is likely to lead to a good understanding of the principles as they are introduced which is essential if they are to be successfully applied later on.

A2 Specification (Economics A, First certification 2017)

Edexcel 9EC01

 

Theme 3 (9EC0/03)
2hr exam 40% (35%)

Business Economics and the Labour Market

This unit develops the content of Unit 1 and for students hoping to attain the A Level qualification they will have to sit paper 1 which tests theme 1 and theme 3 concepts side by side. Theme 3 examines how the pricing and nature of competition between firms is affected by the number and size of market participants. At the end of this unit, students should be able to analyze the pricing and output decisions of firms in different contexts. They should also be capable of making an appraisal of government intervention aimed at promoting competitive markets. The examination consists of short answer and multiple choice questions, one set of data response questions and an extensive essay out of a choice of two specified topics.

Theme 4 (9EC0/01)
2hr exam 40% (35%)

The Global Economy

This unit develops the knowledge and skills gained in theme 2 so that they can be applied in a global context, however theme 2 concepts will be tested alongside theme 4 concepts in the examination. The application, analysis and evaluation of economic models is required as well as an ability to assess policies which might be used to deal with economic problems. An awareness of trends and developments in the global economy over the last 10 years is required. The examination paper follows a similar format to paper 1 which covers themes 1 and 3.

In addition to paper 1 and paper 2, paper 3 is a 2 hour examination equivalent to 30% of the A-Level which tests concepts learnt across all 4 taught themes.

Reading List

AuthorTitlePublisher
Anderton A  Economics 6th Edition Causeway Press 
Smith, Peter Economics 2 Hodder Education

 

Click - Full A2 specification details to find out more.

Jonathon

Grades achieved at MPW
A*AA

Progressed to
Exeter University (Business Management)

I chose MPW because of the academic support provided by the college, which was instrumental in helping me throughout the challenging nature of my one-year A level courses. The weekly Timed Assignments and assistance provided by the Personal Tutor system helped me in areas I had previously struggled. Playing for the college football team was a great release from the challenging academic nature of the year and it helped me build friendships with other students in the college.

Shivali

Grades achieved at MPW
AAA

Progressed to
Leeds University (Dentistry)

The best part about studying at MPW is the friendly, encouraging and supportive classroom environment that MPW provides.  It makes asking for help and reaching your potential easy and enjoyable. The college really helps students to believe in themselves.  The Personal Tutor system is great because it is available for you to use to whatever extent you might need whether that be having weekly meetings or meeting every now and then for a quick catch up to analyse my current progress.  The weekly Timed Assignments have also enabled me to build my confidence in the build up to my exams.  They help you to feel comfortable in an exam environment, as well as enable you to consolidate the material you need to recall in the final exams

Annabel

Grades achieved at MPW
A*AB

Progressed to
Exeter University (International Relations and History)

“Having not achieved the grades I wanted or needed in my A levels at my previous college I decided that retaking would be the best option for me.  I have found the small classes at MPW to be a real asset, and that, coupled with the fantastic teaching, has certainly enabled me to grow academically. Further to this, both the academic support and the university guidance provided by the college have been exceptional.”

Renee

Grades achieved at MPW
A*A

Progressed to
Manchester University (Dentistry)

After failing to get into Dental School last year I lost a lot of confidence and was worried that I might never get into my dream course.  The one-to-one support you get from MPW is so much more efficient compared to the main stream schools and colleges. The individual help you get for applying to University which includes interview support is amazing. No matter if you are a resit or a first time student, no one judges you and as long as you are hardworking and want to be a success.

Jake

Grades achieved at MPW
A*A*A*A

Progressed to
Oxford University (Mathematics)

I joined MPW because I wanted to be part of a close knit community that focuses on helping students attain the grades they are really capable of.  Each student is assigned a Personal Tutor who assists them in all aspects of student life.  I would recommend the individual and personally tailored care given to any student looking to expand their academic horizons.  The encouragement and support has allowed me to aim high and achieve results that I had previously thought weren't possible. 

Cordelia

Grades achieved at MPW
A*AA

Progressed to
King’s College London (Dentistry)

MPW gave me a second chance in pursuing a career in dentistry. The small class sizes and weekly timed assessments gave me and my tutors a clear indication of my progress.  The rigorous teaching schedules, structured and tailored to my personal needs, was exactly what I needed. MPW placed heavy focus on exam technique as the key to achieving the required higher grades. Being able to talk with my tutors at any time in the day was an invaluable aid. It was also clear how much the teachers took a personal interest in the development of each individual student.

Josephine

Grades achieved at MPW
A*AA

Progressed to
University of Warwick (Management)

I joined MPW having not fulfilled my academic potential during my AS level exams at my previous school. I decided to retake my AS year at MPW and it was the best decision I ever made. The tutors at MPW have pushed me to achieve my maximum potential and have greatly improved my academic performance. The best part of studying at MPW is the weekly timed assignments as they ensure that you continuously review and revise work as well as helping you to make weekly improvements on exam technique.

Olivia

Grades achieved at MPW
A*AA

Progressed to
Bristol University (Dentistry)

Throughout my time at MPW I have been provided with constant support.  The college has prepared me for not only my exams but also the university interviews I attended.  It has been an amazing experience from start to finish.  The friendly and welcoming environment created by the staff and students made it an ideal setting for me to concentrate on achieving my targets.

Alex

Grades achieved at MPW
AAA

Progressed to
University of Birmingham (Law)

I came to MPW with very low self-confidence after under-achieving at AS level at my previous school, and have left with greater confidence about my academic ability and with a definite degree of clarity about what I hope to achieve in terms of my career. My experience at my previous school was that those with Oxbridge potential receive the most support and attention. This is not the case at MPW. I have found that it does not matter about that what the student's potential may be, each student receives the same amount of help to achieve their goals.