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 Economics

Economics

Unit 1 provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies.
Unit 2 introduces the key measures of economic performance and the main objectives and instruments of economic policy.
Unit 3 develops the content of Unit 1 and examines how the pricing and nature of competition between firms is affected by the number and size of market participants.
Unit 4 develops the knowledge and skills gained in Unit 2 so that they can be applied in a global context.
 
Methods of Assessment
 
Units 1-3: Examinations of 1 hour 30 minutes, consisting of supported multiple-choice questions and one data response question out of a choice of two questions.
Unit 4: Examination of 2 hours, consisting of one essay question with two parts from a choice of three topic areas, and one data response question out of a choice of two questions.
 
 
ALevel Economics Skills developed at DES
 
• Develop an understanding of economic concepts and theories through critical consideration of current economic issues.
• Develop a critical approach to economic models and methods of enquiry.
• Understand and use simple micro- and macro-economic models.
• Be aware of the assumption of the basic model of supply and demand and understand why supply-side and/or demand-side policies may be seen as appropriate ways of managing an economy.
 • Develop an understanding of the range of ways in which markets may fail.
 
Career Options

 
Economics is an ideal subject choice for students considering working in Finance and Banking, Business, Law and Government, Stock brokerage, international financial markets, Non governmental organisation (NGO) analysis and currency markets. Economics is strongly linked to most trades and is a compulsory subject for engineering at University.