A Levels Economics

At AS-Level, the course gives a general introduction to the world of economics, with key words and modules on microeconomics and macroeconomics. One can expect to explore the notion of a market, studying topics such as demand and supply, elasticity and market failure. The macroeconomics unit gives an introduction into macroeconomic objectives (economic growth, inflation, unemployment and balance of payments), exchange rates, fiscal policy, monetary policy and supply side policy.

Microeconomics at A2-Level covers mainly business economics and the distribution of income. Areas of study is usually around market structures (monopoly, oligopoly and perfect competition), economic efficiency and the labour market. There are options for studying paricular industries, such as Transport, for the micro module.

A2-Level macroeconomics builds on ideas taught at AS-Level. The topics are covered in greater detail, and usually involve evaluating policy by using theory (for example, the Phillips Curve or monetarism).

What can I expect from studying Economics?

Difficulty As in a case of any subject, the level of difficulty perceived by an individual varies. It requires a substantial amount of effort in order to understand the key concepts. This can be a huge put off at first, however if you do manage to overcome this stage, then it will become more straightforward.

Workload Students would be expected to participate in class, be active as that's the best way to learn (actually, this method can be applied to many others subjects, not only Economics). The introductory period might be slightly challenging, you may possibly be confused at some stages. Economics at A-level is all about understanding, therefore make sure you know relatively well what has been already been covered before heading to next chapter. Topics tend to relate one to another, so it will be harder to understand one without prior comprehension of the previous ones.

Required Individual Study Apart from doing homework on a regular basis, I would strongly advise to read economics news in your free time. It's not that hard. You can, for example, assign 15 minutes every morning to read some economics-related articles. BBC has a perfect section for Economics news. The language used isn't sophisticated, not much of a jargon. Don't be discouraged if you don't understand everything at once. It takes time. Gradually you will realise that some issues keep arising every now and then.

So, to cut long story short - read economics news!

On another note, this is entirely down to preference, however many students find it helpful to read up on upcoming topics as a means of putting into perspective what they will be learning. For example if you are going to learn a topic next week, you may find it useful to read the chapter in your textbook relating to that subject. This isn`t necessarily to give you a "head start" and make you a model student, it is just a way of learning certain vocabulary so your lesson will be more engaging.