What topics are in A level economics?
Are you a student considering picking economics at A level? With a range of exciting subjects available in college, you might be drawn to picking a new subject. Commonly not offered at GCSE, economics might be attractive to many students due to the idea of learning something new. With any A level, you should know about the subject before deciding to study it. A level choices are not to be taken lightly. Therefore, if you want to learn more about what topics are involved in A level economics, read on!
In your first year of studying economics at college, you can expect to cover a range of interesting topics. AS level is known to be less challenging than A level. However, this isn’t to say that the topics will be straightforward and you may want to consider online economics tuition for some additional help. You can still expect to put a lot of hard work into each topic you come across. In your first year of college, you will most likely focus on the operations of markets and their failure. Furthermore, the national economy in a global context will also dominate your AS level learning. These two broad topics will usually form the basis of the two separate exams. Although, this might vary depending on your exam board.
Economic methodology and the economic problem
Economic methodology will be studied early on in the A level. It will include content such as looking at economics as a social science and differences between normative and positive statements. You can also expect to study influences on economic decision making such as value judgements. Furthermore, knowledge of similarities to and differences in methodology from natural and other sciences will be needed for the exam. The purpose of economic activity will also be studied, with the principal purpose being the production of services and goods. Students will also learn about the key economic decisions such as what to produce and how to produce it.
Economic decision making
Individual economic decision making will cover topics such as consumer behaviour, behavioural economics, and imperfect information. Consumer behaviour outlines rational economic decision making, utility maximisation, utility theory, and the importance of margin. Imperfect information will show students the importance of information and asymmetric information in decision making. Moreover, behavioural economics will cover different types of choices. This can include default choices, mandated choices, and restricted choices.
Price determination might focus on the causes of shifts in prices and demand curves. Students will become familiar with the demand curve, learning that it shows the relationship between quantity demand and price.
Hopefully, this will have given you a good overview of what you can expect to learn at economics A level. As said above, A levels aren’t to be taken lightly, so it’s important that you make the right decision. Economics is a very respected A level, giving students a range of skills and future opportunities. Therefore, this subject is certainly a solid choice to secure a university place or employment position!