Economics at Collingham is a rewarding intellectual experience, offering highly marketable skills in a way that is both stimulating and analytically rigorous.
Why study Economics?
Have you ever wondered:
Why Wayne Rooney earns more than Gordon Brown?
Why cigarettes and alcohol are taxed so heavily?
What effect the Euro has on your life? Why European food surpluses are not given to poor countries suffering famine? Why parking is so expensive in London?
These are some of the many questions dealt with in an Economics course. Students are encouraged to take a lively interest in current affairs as discussed in the newspapers or on radio or television. By the end of the course, students will be in a position to understand and discuss current economic issues, such as: whether the UK should join or stay outside the Euro zone, the importance of controlling inflation, the effect of commodity price rises on businesses, consumers and the economy.
This is an excellent subject for the numerate, literate and able student. It combines well with most subjects, although we would not generally advise students to take both Economics and Business Studies. GCSE Maths is needed, not because of any formal mathematical content, but as an indication of analytical ability. Economics can form the basis of many different university courses or careers. It is a qualification respected by university admissions tutors as an indication of analytical ability. It can be a complement to other A levels in the Sciences, Social Sciences or Humanities, and may lead to degree courses in any discipline.
The course
Students starting a two-year course in September will take an AS level in the first year. The subject content is presented in four units, two at AS and two at A2.
The first unit provides an introduction to the nature of economics and examines the operation of markets for goods and services, why and how markets fail and how the government attempts to provide remedies.
Unit 1 Markets and market failure
• The economic problem
• The allocation of resources in competitive markets
• Production and efficiency
• Market failure
• Government intervention in the market Unit 2 looks at measures of economic performance and the main objectives and instruments of government policy.
Unit 2 The national economy
• The measurement of macroeconomic performance
• How the macroeconomy works
• Economic performance
• Macroeconomic policy
At A2, candidates develop the micro and macroeconomics already learnt at AS, considering economic concepts and theories in greater depth and recognising the values and limitations of economic models.
Unit 3 Business economics and the distribution of income
• The firm: objectives, costs and revenues
• Competitive markets
• Concentrated markets
• The labour market
• Government intervention in the market.
Unit 4 The national and internationaleconomy
• Macroeconomic indicators
• Managing the national economy
• The international economy
The examination questions are a mixture of supported choice questions, data responses and structured essays.
A one-year course is possible for determined and able students with a mature attitude and an interest in current affairs.
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