Description
This A Level Economics Distance Learning Online Course is ideal for anyone wishing to gain a knowledge and understanding of this subject or for anyone who wishes to study at a higher level at University and gain UCAS points. You will also find this course extremely valuable if you are looking for a progression route for further training whilst employed.
This A’ Level Economics course forms part of the new linear qualifications. This means that students will sit exams for their particular qualification at the end of the completed course in the June series.
AS levels will become decoupled from A’ Levels; this means that they will both become entirely separate qualifications. You will no longer be able to carry forward your AS qualification to the A’ Level qualification and you will sit either AS or A’ Level exams.
Our courses at International Home Study allow our students to work at their own pace and we work to ensure all our student’s needs are met. Our resources will cover the requirements of the course making sure you stay on track with the subject you choose.
Support
The course will be delivered online including Tutor Support for two years. All assignments are marked by one of our professional Tutors who will offer regular feedback and guide you through your course. Postal assignments cannot be accepted without prior permission from the tutor and you must have access to email in order to contact your Tutor.
Throughout your course, you'll have the support of a Tutor to guide you. Additionally, you can reach out to the Student Support Team for help with any other questions you may have. You can be assured that you will receive unlimited support for your home study course, so there is no need to struggle or feel isolated during your studies.
Assessment
The course contains a number of assignments which your tutor will mark and give you valuable feedback on. You will also have access to a range of online resources.
Students will be required to arrange and pay for their examinations at an approved centre when an examination forms part of the course. We can provide an extensive list of these centres for you.
Whats included?
Students will be provided with logins for the student portal where they will find all the study materials they need to complete their course. They will also be provided with an e-textbook to assist them in completing their assignments.
Students will be provided with a Tutor who will help guide them through their course, and their Tutor will expect them to submit a number of assignments in order that their progress can be monitored. These assignments will be graded for them and feedback provided. You will also be able to ask the Tutor any questions about the course or for more help if needed. Once their course has been completed, they will then be allocated practice exam papers to ensure that they are familiar with the procedure and layout of their exams. Learners will be expected to complete these under exam conditions (i.e.. stick to the time scales allowed and try to find somewhere quiet), their Tutor can then provide them with a grade and feedback. More practice papers can be provided if required.
Fees
Course fees for payment in full include:
- Assessment and feedback on all assignments.
- Access to your personal Tutor via our online portal.
- Access to a range of online resources, student materials, assessments, assignments, eBooks etc
- Practice exam papers to prepare you for the real thing.
- Help with UCAS application if attending University.
- Tutor references and predicted grades once a satisfactory amount of work has been completed.
- Help finding an exam centre for you to sit your exam.
AQA Exam Board
Specification codes:
AS Level Economics 7135
A Level Economics 7136
Exams: June
Study Hours: 300 – 360 hours
This A’ Level Economics Course will help you explore the relationship between an individual’s decisions and local economics. Also, it will show how economic policy makers can affect change on the national or global stage and develop an appreciation of fundamental principles of economics. You will also sharpen your analytical thinking and problem solving skills.
This A’ Level Economics course forms part of the linear qualifications. This means that learners will sit exams for their particular qualification at the end of the completed course in the June series.
You will not be able to carry forward your AS qualification to the A’ Level qualification as they are now classed as entirely independent qualifications and you will sit either AS or A’ Level exams.
AS Modules:
The operation of markets and market failure
- Economic methodology and the economic problem
- Price determination in a competitive market
- Production, costs and revenue
- Competitive and concentrated markets
- The market mechanism, market failure and government intervention in markets
The national economy in a global context
- The measurement of macroeconomic performance
- How the macroeconomy works: the circular flow of income, AD/AS analysis, and related concepts
- Economic performance
- Macroeconomic policy
A Level Modules:
Individuals, firms, markets and market failure
- The economic problem and economic methodology
- Individual economic decision making
- Price determination in a competitive market
- Production, costs and revenue
- Perfect competition, imperfectly competitive markets and monopoly
- The labour market
- The distribution of income and wealth: poverty and inequality
- The market mechanism, market failure and government intervention in markets
The national and international economy
- The measurement of macroeconomic performance
- How the macroeconomy works: the circular flow of income, AD/AS analysis, and related concepts
- Economic performance
- Financial markets and monetary policy
- Fiscal policy and supply-side policies
- The international economy
Exams
AS Assessments:
Paper 1: The operation of markets and market failure
Written Examination: 1 hour 30 minutes
Availability: June
Assessment Overview: Has two compulsory sections covering content 1-5.
Section A: 20 multiple choice questions.
Section B: data response questions requiring written answers, choice of one from two contexts.
70 marks
50% of AS
Paper 2: The national economy in a global context
Written Examination: 1 hour 30 minutes
Availability: June
Assessment Overview: Two compulsory sections covering content 6-9.
Section A: 20 multiple choice questions worth 20 marks
- Section B: data response questions requiring written answers, choice of one from two contexts worth 50 marks
70 marks
50 % of AS
A Level Assessments:
Paper 1: Markets and market failure
Written Examination: 2 hours
Availability: June
Assessment Overview: Comprises of two compulsory sections covering content 1-8. Section A: data response questions requiring written answers, choice of one from two contexts.
Section B: essay questions requiring written answers, choice of one from three.
80 marks
33.3% of A Level
Paper 2: National and international economy
Written Examination: 2 hours
Availability: June
Assessment Overview: Comprises of two compulsory sections covering content 9-14. Section A: data response questions requiring written answers, choice of one from two contexts.
Section B: essay questions requiring written answers, choice of one from three.
80 marks
33.3% of A Level
Paper 3: Economic principles and issues
Written Examination: 2 hours
Availability: June
Assessment Overview: Comprises of two compulsory sections covering content 1-14.
Section A: multiple choice questions.
Section B: case study questions requiring written answers.
80 marks
33.3% of A Level
Cambridge (until 2022)
Awarding Body: Cambridge
Course Code: 9708
Study Hours: Recommended 300 – 360 hrs
Exams Available: June & November (also March in India only)
This International A’ Level Economics Course with Cambridge will teach learners how to explain and analyse economic issues and arguments, evaluate economic information, and organise, present and communicate ideas and judgements clearly.
The course covers a range of basic economic ideas, including an introduction to the price system and government intervention, international trade and exchange rates, the measurement of employment and inflation, and the causes and consequences of inflation. Learners also study the price system, the theory of the firm, market failure, macroeconomic theory and policy, and economic growth and development.
Syllabus for Exams in 2022.
The key concepts for Cambridge International AS & A Level Economics are:
The fundamental problem in economics is that resources are scarce and wants are unlimited, so there is always a choice required between competing uses for the resources.
Decision-making by individuals, firms and governments is based on choices at the margin; that is, once behaviour has been optimised, any change will be detrimental as long as conditions remain the same.
- Equilibrium and efficiency
Prices are set by markets, are always moving in to and out of equilibrium, and can be both efficient and inefficient in different ways and over different time periods.
There is a trade-off between, on the one hand, freedom for firms and individuals in unregulated markets and, on the other hand, greater social equality and equity through the government regulation of individuals and markets.
Economics studies how societies can progress in measurable money terms and develop in a wider more normative sense.
Modules
Candidates for Cambridge International A Level Economics Level study the AS topics:
1.Basic economic ideas and resource allocation
- Scarcity, choice and opportunity cost
- Positive and normative statements
- Factors of production
- Resource allocation in different economic systems and issues of transition
- Production possibility curves
- Money
- Classification of goods and services
- The price system and the micro economy
- Demand and supply curves
- Price elasticity, income elasticity and cross-elasticities of demand
- Price elasticity of supply
- Interaction of demand and supply
- Market equilibrium and disequilibrium
- Consumer and producer surplus
- Government microeconomic intervention
- Maximum and minimum prices
- Taxes (direct and indirect)
- Subsidies
- Transfer payments
- Direct provision of goods and services
Nationalisation and privatisation
- The macro economy
- Aggregate Demand and Aggregate Supply analysis
- Inflation
- Balance of payments
- Exchange rates
- The terms of trade
- Principles of absolute and comparative advantage
- Protectionism
- Government macro intervention
- Types of policy: fiscal, monetary and supply side policy
- Policies to correct balance of payments disequilibrium
- Policies to correct inflation and deflation
Candidates for Cambridge International A Economics study the AS topics and the following topics:
1.Basic economic ideas and resource allocation
- Efficient resource allocation
- Externalities and market failure
- Social costs and benefits; cost-benefit analysis
- The price system and the micro economy
- Law of diminishing marginal utility
- Indifference curves
- Budget lines
- Types of cost, revenue and profit, short-run and long-run production
- Different market structures
- Growth and survival of firms
- Differing objectives of a firm
- Government microeconomic intervention
- Policies to achieve efficient resource allocation and correct market failure
- Equity and policies towards income and wealth redistribution
- Labour market forces and government intervention:
- Demand and supply of labour
- Wage determination in perfect markets
- Wage determination in imperfect markets
- Government failure in microeconomic intervention
- The macro economy
- Economic growth, economic development and sustainability
- National Income statistics
- Classification of countries
- Employment/unemployment
- The circular flow of income
- Money supply (theory)
- Keynesian and Monetarist schools
- The demand for money and interest rate determination
- Policies towards developing economies; policies of trade and aid
- Government macro intervention
- Government macro policy aims
- Inter-connectedness of problems
- Effectiveness of policy options to meet all macroeconomic objectives
Exam Papers
Paper 1: Multiple Choice
Written Examination: 1 hour
Availability: June and November
Assessment Overview: 30 multiple choice questions based on the AS Level syllabus content.
30 marks
Paper 2: Data Response and Essay
Time: 2 hours
Availability: June and November
Assessment overview:
Section A: one data response question (20 marks)
Section B: one structured essay from a choice of three (20 marks) Based on the AS Level syllabus content
40 marks
Paper 3: Multiple Choice
Written examination: 1 hour 15 minutes
Availability: June and November
Assessment overview. 30 multiple choice questions based on the A Level syllabus content.
30 marks
Paper 4: Data Response and Essays
Practical examination: 2 hours
Availability: June and November
Assessment overview:
Section A: one data response question (20 marks) Section B: two essays from a choice of six (50 marks) Based on the A Level syllabus content
70 marks
Cambridge (from 2023)
Awarding Body: Cambridge
Course Code: 9708
Study Hours: Recommended 300 – 360 hrs
Exams Available: June & November (also March in India only)
This International A’ Level Economics Course with Cambridge will teach learners how to explain and analyse economic issues and arguments, evaluate economic information, and organise, present and communicate ideas and judgements clearly.
The course covers a range of basic economic ideas, including an introduction to the price system and government intervention, international trade and exchange rates, the measurement of employment and inflation, and the causes and consequences of inflation. Learners also study the price system, the theory of the firm, market failure, macroeconomic theory and policy, and economic growth and development.
Syllabus for exams in 2023, 2024 and 2025
The key concepts for Cambridge International AS & A Level Economics are:
Scarcity and choice
The fundamental problem in economics is that resources are scarce and wants are unlimited, so there is always a choice required between competing uses for the resources and an opportunity cost in making this choice.
The margin and decision-making
In economic theory, decision-making by consumers, firms and governments is based on choices at the margin – for example firms will produce up to the point where the revenue generated by an extra unit of output is equal to the cost of producing it. However, economic decision-making can be based on facts, theory, effectiveness, priorities/objectives and values/ethical judgements.
Equilibrium and disequilibrium
Individual markets and the economy as a whole are always moving into and out of equilibrium, constantly altering the allocation of resources.
Time
Economic conditions change in different time periods, such as the short run and the long run. Individuals, firms, markets and governments are able to respond to these changes in different ways depending on the time frame. Some economic decisions have a time frame element – trading off a cost in the present for a benefit in the future, for example.
Efficiency and inefficiency
Individual markets and the economy as a whole can be both efficient and inefficient in different ways when using scarce resources.
The role of government and the issues of equality and equity
There is a trade-off between, on one side, freedom for firms and individuals in unregulated markets and, on the other side, greater social equality and equity through government regulation of individuals and markets.
Progress and development
Economics studies how societies can progress in measurable money terms and develop in a wider more normative sense regarding living standards, inclusivity and sustainability.
Candidates for Cambridge International A Economics study the AS topics and the following topics:
- Basic economic ideas and resource allocation
- Scarcity, choice and opportunity costs
- Economic methodology
- Factors of production
- Resource allocation in different economic systems
- Production possibility curves
- Classification of goods and services
- The price system and the micro-economy
- Demand and supply curves
- Price elasticity, income elasticity and cross elasticity of demand
- Price elasticity of supply
- The interaction of demand and supply
- Consumer and producer surplus
- Government microeconomic intervention
- Reasons for government intervention in markets
- Methods and effects of government intervention in markets
- Addressing income and wealth inequality
- The macro-economy
- National income statistics
- Introduction to the circular flow of income
- Aggregate Demand and Aggregate Supply analysis
- Economic growth
- Unemployment
- Price stability
- Government macroeconomic intervention
- Government macroeconomic policy objectives
- Fiscal policy
- Monetary policy
- Supply-side policy
- International economic issues
- The reasons for international trade
- Protectionism
- Current account of the balance of payments
- Exchange rates
- Policies to correct imbalances in the current account of the balance of payments
A Level Candidates also study these additional topics:
- The price system and the microeconomy
- Utility
- Indifference curves and budget lines
- Efficiency and market failure
- Private costs and benefits, externalities and social costs and benefits
- Types of cost, revenue and profit, short-run and long-run production
- Different market structures
- Growth and survival of firms
- Differing objectives and policies of firms
- Government microeconomic intervention
- Government policies to achieve efficient resource allocation and correct market failure
- Equity and redistribution of income and wealth
- Labour market forces and government intervention
- The macroeconomy
- The circular flow of income
- Economic growth and sustainability
- Employment/unemployment
- Money and banking
- Government macroeconomic intervention
- Government macroeconomic policy objectives
- Links between macroeconomic problems and their interrelatedness
- Effectiveness of policy options to meet all macroeconomic objectives
- International economic issues
- Policies to correct disequilibrium in the balance of payments
- Exchange rates
- Economic development
- Characteristics of countries at different levels of development
- Relationship between countries at different levels of development
- Globalisation
Exam Papers
Paper 1: Multiple Choice
Written Examination: 1 hour
Availability: June and November
Assessment Overview: 30 multiple choice questions based on the AS Level syllabus content.
30 marks
Paper 2: Data Response and Essay
Time: 2 hours
Availability: June and November
Assessment overview:
Section A: one data response question (20 marks)
Section B: one essay from a choice of two focusing mainly on microeconomics; there are two parts to each essay question (20 marks)
Section C: one essay from a choice of two focusing mainly on macroeconomics; there are two parts to each essay question (20 marks)
Questions are based on the AS Level subject content.
60 marks
Paper 3: Multiple Choice
Written examination: 1 hour 15 minutes
Availability: June and November
Assessment overview. 30 multiple choice questions based on the A Level syllabus content; knowledge of material from the AS Level subject content is assumed.
30 marks
Paper 4: Data Response and Essays
Practical examination: 2 hours
Availability: June and November
Assessment overview:
Section A: one data response question (20 marks)
Section B: one essay from a choice of two focusing mainly on microeconomics; the essay questions are unstructured with no parts (20 marks)
Section C: one essay from a choice of two focusing mainly on macroeconomics; the essay questions are unstructured with no parts (20 marks)
Questions are based on the A Level subject content; knowledge of material from the AS Level subject content is assumed.
60 marks
