Course Guide

A level Economics

Introduction
This is a course designed for people who are interested in
economics. It will help you to:
n develop an interest in, and enthusiasm for economics
n appreciate the contribution of economics to the understanding
of the wider economic and social environment
n develop an understanding of a range of concepts and an ability
to use those concepts in a variety of different contexts
n use an enquiring, critical and thoughtful approach to the study
of economics and develop an ability to think as an economist
n understand that economic behaviour can be studied from a
range of perspectives
n develop analytical and quantitative skills, together with qualities
and attitudes that will equip them for the challenges,
opportunities and responsibilities of adult and working life.
This course guide:
n gives an overview of the course and assessment
n lists the course plan – the sections, topics and assignments
n explains the importance of the specification and assessment
requirements
n outlines resources that will help you succeed.

We recommend you read it before you start your course. You may
also want to use it for reference during your course.

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Course overview
Subject
AS/A level Economics
You may be studying for the AS qualification or for the full A level.
This course is designed to help you develop the knowledge,
understanding and skills required for both qualifications.
Sections 1 to 5 of the course cover the requirements of the AS
qualification and part 1 of the A level.
Sections 6 to 10 cover the requirements of part 2 of the A level.
You need to study Sections 1 to 10 to prepare for the A level.

Previous knowledge/ qualifications required

There are no formal qualifications required to enrol on this course,
but a general education up to GCSE level, or the equivalent, is
advisable.

Specifications
For AS:
Edexcel Economics: specification code 8EC0
QAN code 601/4106/2
Exams from: June 2016
For A level:
Edexcel Economics specification code 9EC0
QAN code 601/4105/0
Exams from: June 2017

Completion time
For AS Economics: approximately 120–150 hours
For A level Economics: approximately 250–300 hours

Assessment
Assessment is by examination only: there is no coursework
AS Economics: two 1 1/2-hour papers
A level Economics: three 2-hour papers.

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Essential textbook
You will need the following textbook:
Smith, P (2019) Edexcel A Level Economics A (fourth edition),
Hodder Education. ISBN: 978 1 5104 4959 6.
(See Equipment and resources for more information.)

Course plan
Sections 1, 2 and 3 cover Theme 1: Introduction to markets and
market failure

Section 1 Introduction to economics

Topic 1 The nature of economics
Topic 2 Production and specialisation
Topic 3 Demand
Assignment 1

Section 2 Supply and price

Topic 1 Supply
Topic 2 Price determination
Topic 3 Price mechanism
Assignment 2

Section 3 Market failure and government

intervention
Topic 1 Market failure
Topic 2 Government intervention
Topic 3 Government failure
Assignment 3

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Sections 4 and 5 cover Theme 2: The UK economy –

performance and policies

Section 4 The UK economy – performance measures

Topic 1 Measuring economic performance
Topic 2 Aggregate demand
Topic 3 Aggregate supply
Assignment 4

Section 5 The UK economy – income, growth and

policies
Topic 1 National income
Topic 2 Economic growth
Topic 3 Macroeconomic objectives and policies
Assignment 5

Sections 6, 7 and 8 cover Theme 3: Business behaviour and the

labour market

Section 6 Business behaviour

Topic 1 Business objectives
Topic 2 Firms and growth
Topic 3 Revenue
Topic 4 Costs
Topic 5 Profit
Assignment 6

Section 7 Market structures

Topic 1 Productive and allocative efficiency
Topic 2 Barriers and market concentration
Topic 3 Perfect competition and monopoly

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Topic 4 Monopolistic competition and oligopoly

Topic 5 The threat of competition
Assignment 7

Section 8 Government intervention in markets

Topic 1 Labour demand and supply
Topic 2 Influences on the labour market
Topic 3 Government intervention
Assignment 8

Sections 9 and 10 cover Theme 4: A global perspective

Section 9 International economics

Topic 1 Globalisation
Topic 2 Why trade?
Topic 3 Balance of payments and exchange rate
Topic 4 International competitiveness
Topic 5 Inequality and poverty
Assignment 9

Section 10 Macroeconomic strategies and policies

Topic 1 International growth and development
Topic 2 Strategies to promote growth and development
Topic 3 The financial sector
Topic 4 The role of the state in the global economy
Topic 5 Macroeconomic policies on a global context
Assignment 10

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Using the specification

The specifications for this course are:
For AS: Edexcel AS Economics 8EC0
For A level: Edexcel A level Economics 9EC0
(Note that for A level you do not need both specifications, only the
A level one.)
You can find the specifications here:
http://qualifications.pearson.com/en/qualifications/edexcel-a-
levels/economics-a-2015.html
The specification tells you:
n the skills, knowledge and understanding that will be assessed
n the structure of the assessment.

It is a key document for you to use to keep track of what you are
learning and to prepare for the assessment.
NEC course materials are designed to cover the specification
requirements. However, check the specification for the year you
plan to take your examinations as you will need to know:
n when your exam takes place
n the unit codes for your exam
n the duration, mark allocations and weightings (so you will know
what to expect from the exam)
n whether you are allowed to take anything into the exam with
you.
Although we aim to help you understand how the qualification is
assessed, NEC cannot guarantee the accuracy of assessment
information. This is because we do not know when you plan to take
your examinations and details may be subject to change by the
awarding body.

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Scheme of assessment
This gives you an overview of what the assessment comprises and
how you will be assessed.

At AS
AS level Paper 1: Introduction to markets and market failure
(Theme 1)
Written exam: 1 hour 30 minutes; 80 marks in total; 50% of AS
Two compulsory sections:
n Section A comprises a range of multiple-choice and short-answer
questions. Students answer all questions.
n Section B comprises one data response question broken down
into a number of parts, including a choice of extended open-
response questions; students select one from a choice of two.
AS level Paper 2: The UK economy – performance and policies
(Theme 2)
Written exam: 1 hour 30 minutes; 80 marks in total; 50% of AS
Two compulsory questions:
n Section A comprises a range of multiple-choice and short-answer
questions. Students answer all questions.
n Section B comprises one data response question broken down
into a number of parts, including a choice of extended open-
response questions; students select one from a choice of two.

At A level
A level Paper 1: Markets and business behaviour
(Themes 1 and 3)
Written exam: 2 hours; 100 marks in total; 35% of A level
Three sections:
n Section A comprises a range of multiple-choice and short-answer
questions.
n Section B comprises one data response question broken down
into a number of parts.
n Section C comprises a choice of extended open-response
questions; students select one from a choice of two.

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A level Paper 2: The national and global economy

(Themes 2 and 4)
Written exam: 2 hours; 100 marks in total; 35% of A level
Three sections:
n Section A comprises a range of multiple-choice and short-answer
questions.
n Section B comprises one data response question broken down
into a number of parts.
n Section C comprises a choice of extended open-response
questions; students select one from a choice of two.
A level Paper 3: Microeconomics and macroeconomics
(all Themes)
Written exam: 2 hours; 100 marks in total; 30% of A-level
Two sections:
n Each section comprises one data response question broken
down into a number of parts, including a choice of extended
open-response questions; students select one from a choice of
two.

Equipment and resources

What you will need
You will need a copy of the course textbook, either as a textbook or
ebook:
Smith, P (2019) Edexcel A Level Economics A (fourth edition),
Hodder Education. ISBN: 978 1 5104 4959 6.
This core text is provided as an ebook as part of the course.
You may also need to develop your maths skills in order to
understand and use some of the concepts in this course. We
recommend:
Lawrence, J (2014) Maths Skills for A level Economics, Oxford
University Press. ISBN: 978-1-4085-2708-5
This is not available as an ebook, so you will need to buy it
separately. Where it is useful to refer to this book or another for
guidance on maths concepts you will see the maths icon shown in
the margin here.

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You will need a pen or pencil and pad for writing your answers to
the activities and self-checks and for making notes. Of course you
may make notes digitally, but bear in mind that you need to write
by hand in the examinations, so it’s useful to practise your
handwriting!
We also refer you to videos, podcasts and other resources on the
internet.
We strongly recommend that you read a good quality newspaper
and watch the TV news and documentaries for up-to-date
information and views about economics. Here are some websites
that you could visit regularly:
n https://www.bbc.co.uk/news/business/economy
n https://www.theguardian.com/uk/business
n https://www.economist.com/sections/economics
(some content is free)
n https://www.thetimes.co.uk
(content is behind a paywall).

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