A LEVEL – ECONOMICS Exam Format A Level Economics consists of 4 units in total: AS Level = 2 units A2 Level = 2 units
AS Level Unit 1: ECON1 – Markets and Market Failure Examination: 1 hour 15 minutes
Unit 2: ECON2 – The National Economy Examination: 1 hour 15 minutes
A2 Level Unit 3: ECON3 – Business Economics and the Distribution of Income Examination: 2 hours
Unit 4: ECON4 – The National and International Economy Examination: 2 hours
Course summary This course is designed to allow you to study at your own pace and is designed to develop an interest and understanding of economics in the real world, both on a business and personal level.
No prior knowledge of the subject is required, however basic knowledge is desirable. It is recommended that students have attained GCSE or equivalent communication and literacy skills in English and numeracy skills in mathematics.
This course is suitable to be studied by all students irrespective of age, creed, religion or gender.
Read on to find out more about our A Level Economics distance learning course and how you can learn with our amazing materials and online support.
Course Content An outline of what is offered in our A Level Economics course:
AS Level Unit 1: ECON1 – 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: ECON2 – The National Economy • • Introduction to Macroeconomics How the Macro-economy works: AD/AS analysis. the circular flow of income and related concepts • • Economic performance Macroeconomic policy
A2 Level Unit 3: ECON3 – Business Economics and the Distribution of Income • • • • • • The Firm: Objectives. Costs and Revenues Competitive Markets Marketing Strategies Concentrated Markets The Labour Market Government Intervention in the Market
Unit 4: ECON4 – The National and International Economy • • • Macroeconomic Indicators Managing the national economy The international economy
Course Outline in Detail:
Unit 1: ECON1 – Markets and Market Failure
The Economic Problem • The Nature and Purpose of Economic Activity and the Economic Problem
Positive and Normative statements
The Allocation of Resources in Competitive Markets • • • • • • • • The Determinants of the Demand for Goods and Services Price. choice and the allocation of resources Production Possibility Diagrams Value Judgements. Firms and Government Scarcity. Income and Cross Elasticity’s of Demand The Determinants of the Supply of Goods and Services Price Elasticity of Supply The Determination of Equilibrium Market Prices Applications of Demand and Supply Analysis to Particular Markets The Interrelationship Between Markets How Markets and Prices Allocate Resources
Production and Efficiency • • • Specialisation. Division of Labour and Exchange Production Economies and Diseconomies of Scale
Market Failure • • • • • • • The Meaning of Market Failure Public Goods Positive and Negative Externalities in Consumption and Production Merit and Demerit Goods Monopoly and the Allocation of Resources Immobility of Factors of Production Inequalities in the Distribution of Income and Wealth
Government Intervention in the Market • • • • Rationale for Government Intervention Methods of Government Intervention to Correct Distortions in Individual The Impact of Government Intervention on Market Outcomes Government Failure
.• • • • •
Economic Resources The Economic Objectives of Individuals.
Short-run and Longrun • • • Economies and Diseconomies of Scale Technological Change Total. the circular flow of income and related concepts • • • • • • Circular flow of income Aggregate Demand (AD) and Aggregate Supply (AS) Analysis The Determinants of Aggregate Demand Aggregate Demand and the Level of Economic Activity Determinants of Short-Run Aggregate Supply Determinants of Long-Run Aggregate Supply
Economic Performance • • • • • The Objectives of Government Economic Policy Economic Growth Inflation and Deflation Employment and Unemployment The Balance of Payments on Current Account
Macroeconomic Policy • • • Fiscal Policy Monetary Policy Supply-Side Policies
Unit 3: ECON3 – Business Economics and the Distribution of Income
The Firm: Objectives. Average and Marginal Revenue
. Costs and Revenues • • • • The objectives if firms The Divorce of ownership from control The Law of diminishing returns and returns to scale Fixed and Variable Costs. Average and Total Costs.Unit 2: ECON2 – The National Economy Introduction to Macroeconomics • • • The Measurement of macroeconomic performance Macroeconomic Indicators The Economic Cycle
How the Macro-economy works: AD/AS analysis. Marginal.
Competitive Markets • • • The Model of Perfect Competition Competition and the Efficient Allocation of Resources The Dynamics of Competition and Competitive Market Processes
Concentrated Markets • • • • • • • • • • • Monopoly and Oligopoly Price Makers and Price Takers The Growth of Firms Sources of Monopoly Power The Model of Monopoly Collusive and Non-Collusive Oligopoly Interdependence in Oligopolistic Markets Price Discrimination Consumer and Producer Surplus Contestable and Non-contestable Markets Market Structure. Regulation and De-regulation of Markets Notions of Equity The Problem of Poverty Government Policies to Alleviate Poverty and to Influence the Distribution of
. Dynamic Efficiency and Resource Allocation
The Labour Market • • • • • • • • • • The Demand for Labour. Privatisation. Marginal Productivity Theory Influences upon the Supply of Labour to Different Markets The Determination of Relative Wage Rates and Levels of Employment in Perfectly Competitive Labour Markets The Determination of Relative Wage Rates and Levels of Employment in Imperfectly Competitive Labour Markets The Influence of Trade Unions in Determining Wages and Levels of Employment The Impact of a National Minimum Wage Rate Discrimination in the Labour Market Discrimination in the Labour Market
Government Intervention in the Market • • • • • • Market failure and Government failure Competition Policy Public Ownership. Static Efficiency.
candidates answer one.• •
Income and Wealth Cost Benefit Analysis
Unit 4: ECON4 – The National and International Economy
Macroeconomic Indicators • • • • The Economic Cycle and Economic Growth Uses of National Income Data Unemployment Inflation and Deflation
Managing the National Economy • • • • • • Macroeconomic Models and Policies Fiscal Policy Supply-Side Policies Monetary Policy. 25 marks Section B: Two optional data response questions are set. the Money Supply and Interest Rates Exchange Rate Policy
The International Economy • • • • • Globalisation Trade The balance of payments Exchange rate systems The European Union
Summary of Assessments Unit 1: ECON1 – Markets and Market Failure • • • • • • 50% of AS Level 25% of A Level 1 hour 15 minutes examination 75 marks Section A: 25 compulsory objective test items. 50 marks
Unit 2: ECON2 – The National Economy • 50% of As Level
It is recommended that 150 hours of your time should be allocated towards study for the A2 examinations. 40 marks
Assignment Information Throughout the course there will be self-assessment questions. • Section B: Three optional essay questions are set. candidates answer one. one question will always relate to the global context and the other to the European Union context. one question will always relate to the global context and the other to the European Union context. 40 marks.
. and tutor marked questions. candidates answer one.
Recommended hours of study It is recommended that 150 hours of your time should be allocated towards study for the AS examinations. 25 marks Section B: Two optional data response questions are set. 40 marks
Unit 4: ECON4 – The National and International Economy • • • • 25 % of A Level 2 hour examination 80 marks Section A: Two optional data response questions are set. 40 marks. candidates answer one. candidates answer one. candidates answer one.• • • • •
30% of A Level 1 hour 15 minutes examination 75 marks Section A: 25 compulsory objective test items. • Section B: Three optional essay questions are set. to enable students to monitor their progress. 50 marks
Unit 3: ECON3 – Business Economics and the Distribution of Income • • • • 25% of A Level 2 hour examination 80 marks Section A: Two optional data response questions are set.
We are unable to provide this information by telephone.Recommended Reading: AQA AS Economics Student Book.
The contract for sitting exams is between you and the centre and we will provide you with comprehensive instructions on when and how to deal with the examination centre.
Entry Requirements Basic English reading and writing skills. It is recommended that students should have acquired the skills and knowledge associated with a GCSE course or equivalent.
Examination Centres UK Open Learning will provide you with a list of examination centres but it is entirely your responsibility to find a centre which will accept you as an external candidate. 2nd edition by Chris Vidler and Charles Smith ISBN-10: 0435692224 ISBN-13: 978-0435692223
AQA A2 Economics Student's Book by Jim Lawrence. Steve Stoddard ISBN-10: 0748799656 ISBN-13: 978-0748799657
Revision Guide to AS & A2 Level Economics – James Keefe Publisher – Informe ISBN – 0 907529 70 4
Support As a student of UK Open Learning you will have access to tutor via email who will mark your work and guide you through the course to ensure you are ready for your examinations. In some cases you should be prepared to travel to another town or city to take your exams.
Please email for a list of centres and we will provide you with a link or a PDF for you to contact centres directly.
How do I contact my tutor? A.
Language of Examination Units are provided in English only
Frequently Asked Questions Q.
Qualification AS +A2 = A level in Economics.
. all our course materials meet any changes and will be updated free of charge if further changes are made. We have students all over the UK and Europe and it is impossible for us to arrange dates and times for individual students. All our courses are paper based and come in attractive sturdy folders. Are the courses paper based or on-line? A. What if I cannot find an examination centre in my home town? A.
Q. If you wish to gain the qualification then be prepared to travel it is worth it!
Q. Why do I have to find a centre myself? A. yes. Exams are taken at the same times as schools and colleges and are not flexible. Why can I not take my exams when I have completed the course and why do I have to wait? A. How much are exam fees? A.Pre-requisites To take an A Level with UK Open Learning it is recommended that you should have a GCSE grade C or above in your chosen subject.
Q. These vary from centre to centre so please check with your local centre. Both AS and A2 level courses and examinations must be successfully completed to gain a full A level. Do your courses meet the latest syllabus changes? A. Tutors are all working Teachers or Lecturers so contact is by email only.
Pay in full at the time of ordering and you will receive the 10% discount (deducted at checkout)
.Q. is this possible? A. Will I receive UCAS points on completion of this course? A. Yes all of our A Levels carry UCAS points. See our web site for further information.00
INSTALMENTS 6 @ Months at £65. More importantly the examination boards have cut off times which are not flexible.
PRICE £395. Depending on the time of year.
Q. I want to take my exams but there are only a few months to study. it is sometimes impossible to complete your studies in a short space of time as your work has to be marked and checked. The number of points awarded will depend on the grade you achieve.