Economics

Why study A Level Economics?

The A Level Economics course deals with the choices that people, firms and countries make and the impact these decisions have on people’s lives. It is from this simple basis that all of the economic problems in the world around us arise and hence leads to questions that need to be answered, such as:

• Is inflation bad? 
• What are some industries more profitable than others 
• Is poverty a problem or a desired outcome built into market-based economies? 
• Are workers exploited? 
• How can governments intervene in people's lives and under what conditions should they do so? 

The aim of the course is to help students understand the issues that need to be addressed when such questions are raised and apply the relevant economic theories and models to arrive at possible solutions.

How will I be assessed?

This course is examined by three separate exam papers, each two hours long.

• Units 1 and 2 both contain an unseen case study with data response questions plus options of two out of four longer written answers
• The Unit 3 exam includes multiple choice questions plus longer written questions based around an extended unseen case study set on a specific economic ‘theme’
• All exams are sat at the end of Year 13

entry requirements

Economics is a demanding subject requiring the study of abstract models and the analysis of data together with the production of long written answers. As such, in addition to the entry requirements to attend KES Sixth Form, a minimum of a Grade 5 needs to be achieved in each of Mathematics, English and Science. Business at GCSE is not a requirement to study Economics at A Level, however if you have studied Business at GCSE, a minimum of a Grade 5 must have been achieved.

What skills will I gain from studying Economics?

Economics requires students to develop a range of skills; from the use of theoretical models to the construction of coherent and well-structured arguments, all of which will need to be under pinned by a good grasp of the current UK and world economic environments. The subject will give students the tools to look at the world from an alternative perspective and understand how many seemingly disparate issues are, in fact, deeply integrated and dependent on each other.

Where can Economics lead?

Students taking Economics often go on to university to study a range of subjects from Economics, Business, International Finance, Accountancy, Law and Management. Currently over 80% of students that study Business, Economics or Accounting at King Edward VI School, Lichfield go on to follow a business related course at university. In addition, Economics is a well respected subject for a range of professions including Accountancy, Business and Law; whilst in the long term it can open doors for work at institutions such as HM Treasury, the European Parliament and the World Bank.

Curriculum Intent

At King Edward VI School in Lichfield, the intent of our A Level Economics curriculum is to develop students into critical thinkers who can analyse complex economic issues, interpret data and evaluate policy decisions within both national and global contexts. By following the OCR A Level Economics specification, students gain a deep understanding of how individuals, businesses and governments make decisions about scarce resources and how these decisions shape economic outcomes. 

The curriculum introduces students to the core principles of microeconomics and macroeconomics, enabling them to understand how markets function, why market failures occur and how government intervention can influence economic performance. Students explore key economic challenges such as inflation, unemployment, economic growth, inequality and globalisation, developing an awareness of the economic forces that affect businesses, governments and individuals. 

A central aim of the course is to develop students’ ability to analyse economic models, interpret quantitative data and evaluate competing economic arguments. Through the study of real-world economic issues and current economic policy debates, students learn to construct balanced and well-supported arguments. This supports not only success in the OCR examinations but also the development of strong academic skills including logical reasoning, data interpretation and critical evaluation. 

Beyond the classroom, A Level Economics helps students develop a deeper understanding of the world around them. Students become more informed about how economic policies affect living standards, employment opportunities and economic stability. This knowledge supports them in becoming economically literate citizens, capable of engaging thoughtfully with public debate and making informed financial and societal decisions. 

The qualification provides an excellent foundation for a wide range of future academic and career pathways. Many students progress to university courses in economics, finance, business, politics or related disciplines. The analytical, mathematical and evaluative skills developed through the course are also highly valued in careers such as finance, banking, government policy, consulting and data analysis. 

Ultimately, the intent of our A Level Economics curriculum is to ensure that students leave King Edward VI School as analytical, inquisitive and economically aware individuals, capable of understanding and evaluating the economic challenges facing modern societies and applying their knowledge to future study, employment and informed participation in the wider economy. 

Staff

The following members of staff form the Business, Economics and Accounting department at King Edwards: