A Level Economics B

Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you make better choices.

In Theme 1 and Theme 2 you will be introduced to the nature of economics, how markets work and why they fail, consumer choices and enterprise in the economy. You will also consider the role of banks and life in a global economy.

In Theme 4 and 4 you will explore the impact of globalisation on consumers, firms and the labour market. You will also investigate the role of government and have an opportunity to consider the role and the impact of the financial sector.

Year 1 Topics

Theme 1 - Markets, consumers and firms

The topics covered are - enterprise, business, the economy, scarcity, choice and potential conflicts, introducing the market, the role of credit in the economy, market failure and government intervention, and revenue, costs, profits and cash.

Theme 2 - The wider economic environment

You will cover - business growth and competitive advantage, firms, consumers and the elasticities of demand, productive efficiency, life in a global economy, the economic cycle and introduction to microeconomic policy.

Year 2 Topics

Theme 3 - The Global Economy

You will cover - globalisation, economic factors in business expansion, impact of globalisation on global companies, the impact of globalisation on local and national economies, global labour markets and inequality and redistribution.

Theme 4 - Making Markets Work

Topics covered include - competition and market power, market power and market failure, market failure across the economy, microeconomic policies and impact on firms and individuals and risk and the financial sector.