GCE A Level Economics (9EC01) Subject Outline

Sunday, May 19, 2013

The aims of the Advanced GCE in Economics are to: 

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

Structure 

  • Edexcel’s GCE in Economics comprises four units and contains an Advanced Subsidiary subset of two AS units. 
  • The full Advanced GCE award consists of the two AS units (Units 1 and 2), plus two A2 units (Units 3 and 4) which make up the other 50 per cent of the Advanced GCE. 
  • Students wishing to take the full Advanced GCE must, therefore, complete all four units. 

Units 

Advanced GCE specification, in general, requires students to: 

  • develop an understanding of economic concepts and theories through critical consideration of current economic issues, problems and instructions that affect everyday life 
  • analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it 
  • develop a critical approach to economic models and methods of enquiry. 

Unit 1 and Unit 2 (AS- 2 Units) require students to: 

  • understand and use simple micro- and macro-economic models. 
  • Micro-economic models are covered in Unit 1 where students will look at the working of the market mechanism in relation to particular markets, for example commodities, labour or stock market 
  • Macro-economic market models appear in Unit 2 where students will study the main macro-economic policy instruments and enable them to predict the possible impact of such policies and to recognise the assumptions involved. Comparisons of economic measures between developed and developing countries in Unit 2 enable students to draw on an international context 
  • 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 (see Unit 2) 
  • develop an understanding of the range of ways in which markets may fail; understand the implications of market failure for individuals, firms and government (see Unit 1).

Unit 3 and Unit 4 (A2- 2 Units) require students to: 

  • use and evaluate more complex models involving more variables, for example pricing and output decisions under different market structures (see Unit 3) 
  • apply models to a wider range of contexts, for example students should consider the causes and consequences of inequality in developed and developing countries (see Unit 4) 
  • develop the ability to apply and evaluate economic models as represented in written, numerical and graphical form, for example in Unit 3 students will need to be able to draw a cost curve and explain its shape in terms of diminishing marginal returns and economies of scale 
  • be able to propose possible solutions to problems, for example in Unit 4, students have to apply concepts and theories which may be appropriate to promote growth and development in a particular economy 
  • understand the relationships and linkages which underpin macro-economic models, for example in Unit 4, students should understand global factors which influence a country’s exchange rate 
  • be able to predict the possible impact of policy changes on local, national and international economies, for example in Unit 4 the AD/AS model is applied in analysing and evaluating the use of policies to achieve economic objectives 
  • be able to evaluate the effectiveness of government policies across a range of contexts, for example in Unit 4, students have to examine government policy to increase international competitiveness and how they may affect particular national industries.

Assessment Structure

Unit
Details
Allocated Marks
Examination length: 1 hour 30 minutes
Supported multiple-choice questions where students write a short justification of why they chose that answer and/or why the other answers are incorrect. Worth 32 marks.
One data response question out of a choice of two questions. Worth 48 marks.
80 marks
Examination length: 1 hour 30 minutes
One data response question out of a choice of two questions. Worth 50 marks.
Last question of data response will be open ended. Worth 30 marks.
80 marks
Examination length: 1 hour 30 minutes
Supported multiple-choice questions where students write a short justification of why they chose that answer and/or why the other answers are incorrect. Worth 32 marks.
One data response question out of a choice of two questions. Worth 40 marks.
72 marks
Examination length: 2 hours
One essay question with two parts from a choice of three topic areas. Worth 50 marks.
One data response question out of a choice of two questions. Worth 50 marks.
100 marks




Unit Results
























Qualification Results


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