Paper 1: Markets and market failure This unit focuses on microeconomics, covering topics such as demand and supply, the operation of the price mechanism, competition and the causes of market failure e.g. pollution. You will consider the decisions made by firms and how their behaviour can be affected by the structure and characteristics of the industry in which they operate e.g. a monopoly. Other key models relate to the operation of labour markets, wage determination and causes of inequalities in the distribution of income and wealth. You will also learn about the impact that developments in the European Union and in the global economy have upon microeconomic behaviour and performance. You will use microeconomic models to analyse current problems and issues in the UK and world economy. Microeconomics addresses questions such as “why are house prices so high?”, “can pollution effectively be controlled?” and “should governments interfere with markets?” Paper 2: National and international economy This unit focuses on macroeconomics, covering topics such as aggregate demand and supply, unemployment, inflation, the interest rate, trade, exchange rates, government policies, developing countries, globalisation and the impact of the European and world economy on the UK, over the past 15 years. There is also a module on financial markets, banking and financial regulation. You will study recent economic events and consider their causes and consequences. You will be encouraged to evaluate government policies and their impact on, for example, economic growth. Macroeconomics addresses
Name: Economics Qualification title: GCE A level Qualification type: GCE A/AS Level or equivalent Assessment Class work, internal assessments pre public exams Awarding Assessment & Qualifications Alliance Created 20160205 11:55:15 Updated 20161010 13:19:27
Text books, pens, paper Equipment required Text books, pens, paper
The Cardinal Wiseman Catholic School
Voluntary Aided School
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