Why Study A-Level Economics?

Economics is a fascinating subject to study, as it helps you to look more deeply into the world around you – how and why it functions as it does. It can also give you new perspectives on some of the most pressing and challenging problems facing the world today. Economics does not revolve solely around wealth creation, or peaks and troughs in financial money markets and their effects on business performance. Economic decisions and activities impact on many different areas of society and on our own everyday lives – interest rate fluctuations, personal taxation, unemployment, labour force migration and football transfer prices, to name but a few. In a world where there is increasing debate about scarcity of resources, economics plays a key role in that it is fundamentally concerned with how to allocate those resources most efficiently.
We follow current affairs very closely and we recommend that our students are proactive on that account. http://news.bbc.co.uk/1/hi/business/economy/default.stm

Economics is taught at the Crypt by:

Miss Gardner, Head of Department, Business Studies, Economics and Accounts teacher.
Mrs Kirkpatrick, Business Studies and Economics teacher. – Assistant Head of VI Form.



We follow the EDEXCEL GCE Economics specification which aims to:  

  • develop an interest in, and enthusiasm for, the study of economics
  • help students appreciate how economics contributes to an understanding of the wider economic and social environment
  • develop an understanding of a range of concepts and the ability to use them in a variety of different contexts
  • help students to think as economists and use an enquiring, critical and thoughtful approach to the study of economics
  • develop in students the skills, qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life.




Unit 1: Competitive Markets — How They Work and Why They Fail.  There is greater emphasis on information problems in markets and factors influencing the demand and supply of labour. 

Unit 2: Managing the Economy. It will include specific mention of the factors influencing the components of Aggregate Demand, such as the wealth effect on consumption and causes and costs of growth for developed and developing economies.


Unit 3: Business Economics and Economic Efficiency. This unit studies firms’ behaviour, barriers to market entry and exit, economics of scale and game theory. 

Unit 4: The Global Economy.  It includes the use of policies by governments to achieve their macro and microeconomic objectives; international trade (including exchange rates and comparative advantage) and globalisation; the competitiveness of different countries; poverty and inequality in countries, and what can be done to prompt their growth and development.



We attend conferences and events organised by the Institute of Economic Affairs (IEA) and Tutor 2 U conferences, amongst others.

IEA conference 2013

We take part in the prestigious Target two Point Zero Bank of England Challenge - the Bank of England and The Times Interest Rate Challenge - gives teams of students age 16-18 the chance to take on the role of the Bank of England's Monetary Policy Committee, assess economic conditions and the outlook for inflation and tell panels of judges what monetary policy they would set to achieve the Government's inflation target of 2.0%.



A wealth of resources are available to our students in our school library and on line. Tutor 2 u and Bized are recommended websites. 

Office For National Statistics: http://www.statistics.gov.uk/default.asp

ONLINE PAPERS: http://www.xtremepapers.me/Edexcel/index.php

Recommended reads:

The Logic of Life , Tim Harford

The future of Money, Vince Cable

Fool’s Gold, Gilliam Tett

Crisis Economics, Nouriel Roubini 

The Economist Undercover, Tim Harford

Freakconomics, Steven D. Levitt and Stephen J. Dubner

Economics is a fascinating subject to study, as it helps you to look more deeply into the world around you



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