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ECONOMICS
Subject Department:
ECONOMICS
Examination Board:
OCR
AS Code:
3812 A2 Code:
7812
Specification Summary
The course encourages students to develop an understanding of economic
concepts and theories through a critical consideration of current
economic issues, problems and institutions of everyday life. As
such, students will apply the economic theories and concepts learned
in a range of contexts and appreciate their value and limitations
in explaining real world phenomena. They will also analyse, explain
and evaluate the market economy and the role of government in it.
Specification
Aims
The subject matter of the modules is of relevance in today’s
complex global economy, providing an appreciation of contemporary
economic issues in the UK economy, including the European and global
context. Students will therefore acquire an understanding of current
economic issues including the problems and institutions which affect
their lives. Micro and macro economic theories and concepts will
be explored and students will develop a critical approach to economic
models and methods of enquiry, applying them to a range of present
day economic problems. The moral, ethical, social, cultural and
spiritual dimensions of Economics will be included – such
as the strengths and weaknesses of the market economy, the relationship
between rich and poor countries, the distribution of income and
wealth within a particular society and the quality of life between
and within economies.
Prior Level of
Attainment
No previous study of Economics is required and no specific
previous qualifications are required. However, students will be
expected to have achieved good GCSE grades and have an ability to
analyse theories and concepts, whilst showing an interest and awareness
of the economic environment in which they live. It will therefore
be necessary for students to keep well informed about economic events
and debates as they occur. In general, Economics as a subject is
more theoretical than Business Studies.
Methods of Assesment
The 1 year AS course can be taken as a stand-alone qualification.
This will also form the first half of the full 2 year Advanced (A2)
course. For the AS qualification, 3 modules will be taken, comprising
3 separate written papers containing unseen case studies, which
may also contain quantitative information. In the third module,
‘The National and International Economy’, one question
has to be written in continuous prose. At Advanced (A2) Level there
are a further three modules. Two modules include compulsory data
response questions and structured essay questions. The third module
‘Economics in a European Context’ is a synoptic module
which consists of a number of compulsory questions using pre-released
stimulus material provided from newspapers, journals and textbooks.
Units of Assessment
The specific details of the modules are as follows:
| Level |
Unit
|
Mode
of Assessment |
Weighting |
| AS |
Advanced
A2 |
| AS |
The Market System |
Written
1 hour |
30 % |
15 % |
| AS |
Market Failure and Government Intervention |
Written
1 hour |
30 % |
15 % |
| AS |
The National and International Economy |
Written
1 hour |
40 % |
20 % |
| A2 |
EITHER The Economics of Work and Leisure OR Transport Economics
* |
Written
1 hour 30 mins |
|
15 % |
| A2 |
EITHER Economics of Development OR
The UK Economy * |
Written
1 hour 30 mins |
|
15 % |
| A2 |
Economics in a European Context based on pre leased materials
|
Written
1 hour 45 mins |
|
20 % |
All AS papers are written examinations of 1 hour. At A2, the first
two pages are 1 hour 30 mins with 1 hour 45 minutes for Economics
in a European Context.
* To be agreed at the end of Year 12 with students undertaking
the A2 level.
Links
to Higher Education, Careers and Employment
Economics is a highly regarded academic subject relevant
to students who wish to follow a wide range of careers such as
finance, management, law and even medicine. It therefore works
well with the sciences, arts, languages and humanities and each
year students successfully combine Economics with subjects from
all these areas. It is usually the case that universities will
require an A-level in Mathematics if Economics is to be studied
at degree level. However, Mathematics A-level is not a requirement
for associated degrees in Business and Management where Economics
has to be studied as part of the course.
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