A Level
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WHAT IS ECONOMICS?
Economics is the study of scarcity, and
concerns the allocation of society’s
scarce resources amongst their many
competing uses; it looks at the way
the world works. You will study the
forces that shape our lives, such as the
behavioural factors that influence our
decision-making, growing inequalities and
employment prospects; the opportunities
and challenges facing a post-Brexit UK;
the importance of aid and international
trade for economic development; and
the impact of environmental factors.
WHAT WILL YOU STUDY?
You will study both micro- and
macroeconomics. The microeconomic
module includes the basic economic
problem, how markets work, and what
happens when they fail to work properly,
this is known as market failure.
In macroeconomics you will learn about
how a government attempts to manage
the economy, and deal with unexpected
economic shocks, using the various tools
it has available, in order to meet the
four key macroeconomic objectives, and
achieve its overriding aim of maximising
the welfare of its citizens.
In the second year you will develop
further the economics you have learned
previously using more complex models.
In addition, the macroeconomic content
includes international trade
development and financial markets.
In the microeconomic module, you will
study behavioural theories; business
economics, the labour market, including
poverty and the causes and effects of
inequalities in the distribution of income
and wealth.
Economics
CAREERS
• Accountancy
• Project management
105
WHAT NEXT?
Economics is a highly versatile subject
that could provide many different career
pathways. Many students decide to study
the subject at university, and from there
go on to work as economists in various
fields such as with the Bank of England,
the CBI, accountancy firms, in economic
‘think-tanks’, for example, the Institute of
Fiscal Studies, in charitable organisations,
in multinational corporations, or in
government departments.
Economics A Level students are also
very well-prepared for the workplace,
with many taking up apprenticeship
schemes, such as in accountancy or
project management in firms such as
BAE Systems and Rolls Royce.
WHAT OTHER SUBJECTS GO
WELL WITH THIS SUBJECT?
Maths, Business Studies, Geography,
History, Politics, Accountancy, English
and a range of science subjects.
DID YOU KNOW?
The world’s 100 richest
people earned enough
money in 2012 to end
global poverty four
times over.
“ I met the fantastic teachers at the Open Day, so
knew that Newman was the place for me. I have
really enjoyed working more independently
and the ability to be flexible about how and
when I do my work due to the study periods.
Newman is the best place to develop and expand
your knowledge. I have met loads of lovely
people and made lots of friends.”
Karolina Lebioda
SCHOOL: Christ the King
SUBJECTS: A LEVELS IN Economics, Business and Accounting