Topics covered: Central to Economics are the forces of demand and supply that lead to the price mechanism allocating scarce resources in markets - this is the focus of microeconomics. Real world case studies are drawn on to illustrate economic theory in practice. However, there are cases of markets failing and we study their causes and possible policy remedies. Policy remedies are evaluated for their effectiveness. Macroeconomics involves the study of the key measures of economic performance and the main objectives and instruments of economic policy. Students are introduced to the use of aggregate demand and aggregate supply curves to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy. Examination: This course is 100% examination with three examinations at the end of the second year. Component 1, Microeconomics, covers the basic economic problem, how a market economy works, the theory of demand and supply, market failure and government correction of market failure. Component 2, Macroeconomics, covers economic policy objectives indicators of macroeconomic performance, aggregate demand and supply analysis, fiscal, monetary and supply-side policies. Components 1 and 2 are assessed through a compulsory data response question and two essays (each essay has a choice of two questions). Component 3 is a synoptic unit and draws on the content of Components 1 and 2. This is assessed through 15 multiple choice questions, a compulsory data response question and one essay from a choice of two questions.
Name: A-level Economics Qualification title: GCE A Level in Economics Qualification type: GCE A/AS Level or equivalent Assessment Examination Awarding Oxford Cambridge & RSA Examinations Created 20150929 09:33:46 Updated 20161021 07:45:19
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Sir Thomas Rich's School
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