Year one content
Paper One: Micro Economics – The operation of markets and market failure:
This covers different economic systems, how markets operate, how prices are determined and what happens when markets don’t work as well as we would like. It will cover questions like:
- How is the price of a pair of jeans calculated?
- Why might an increase in price result in more money being earned by sellers in some cases, but less money being earned in others?
- How do we tackle issues like the creation of pollution arising from smoking?
- Should the NHS be accessible to all patients for free?
- What is the government’s role in managing markets in the UK economy?
Paper Two: Macro Economics – The national economy:
This covers at how we measure the performance of an economy, and just how the economy ‘works’ It will cover questions like:
- How does money flows around the economy?
- How do banks ‘create’ money?
- How are savings and investments affected by, and themselves affect, the rate of interest?
- Why might government spending of £1 million increase demand in the economy by, for example, £5 million.
- What are the government economic objectives? How do they achieve them?
Year two content
Paper One: Micro Economics – Individuals, firms, markets and market failure:
This will build on the Year one Paper 1 content, but will have a different assessment focus.
It will cover questions like:
- What are the objectives of firms?
- How is the market for petrol different to the market for potatoes?
- What would be the impact of unions demanding a significant pay rise?
OR
- How would employers be impacted by unions demanding a significant pay rise?
- Why can some firms charge different prices for exactly the same product?
- How are individual firms Costs and Revenue curves calculated?
Paper Two: Macro Economics – The national and international economy:
This will build on the Year one Paper 2 content, but will have a different assessment focus.
It will cover questions like:
- How is economic performance measured?
- How do governments attempt to control the economy via Fiscal Policy?
- When seeking to manage the economy, should governments seek to influence Demand for, or Supply of goods and services
- What are the economic issues of the day?
- How do changes in the Exchange Rate affect our holiday plans?
Paper Three: Economic Principles & Issues – This paper covers the entire A-Level content.
