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: