What Will You Learn in A-Level Economics?

Many people think Economics is mainly about stock markets and finance. While those topics do feature, Economics is much broader than that.

Economics helps us understand many of the biggest issues affecting our everyday lives. Why do prices rise? Why does unemployment increase? Why do governments change taxes? Why do interest rates move? Why do some countries become richer than others?

At A-Level, you'll study questions like these and learn how economists analyse them. Some of the main topics include:

• Inflation

• Unemployment

• Economic growth

• Government taxation and spending

• Interest rates

• International trade

• Exchange rates

• Competition and monopoly

• Market failure

• Poverty and inequality

• Environmental economics

You'll also learn how governments, businesses and consumers make decisions, and how those decisions affect the wider economy.

Economics is about understanding the world

Two of the major topics are inflation and unemployment. These might sound rather abstract, but both can have a profound impact on people's lives. Economics therefore studies not only what causes them, but also the different policies governments can use to try to reduce them.

One of the fascinating things about Economics is that economists don't always agree.

That might seem surprising, but unlike chemistry or physics, economists cannot usually carry out controlled experiments.

For example, a government might introduce a policy designed to reduce inflation, and inflation may subsequently fall. But was it the policy that caused the change? Or did other events happen at the same time? Because many factors influence an economy simultaneously, it is often difficult to prove cause and effect with certainty.

That is one reason Economics is described as a social science. It studies how people, businesses and governments behave, using evidence, data and theory to understand the complex world around us.

Do you need to be good at Maths?

Many students worry that A-Level Economics involves lots of Maths.

In reality, there is some Maths, but it isn't advanced. If you're comfortable calculating percentages, interpreting graphs and handling simple calculations, you'll be fine. Even if you're not completely confident at the moment, these are skills that can be learned quite quickly.

Economics is not just about memorising facts

One of the biggest surprises for many students is that Economics isn't simply about learning definitions or remembering diagrams.

Success comes from understanding why things happen.

For example:

• Why might raising interest rates reduce inflation?

• Why do governments borrow money?

• Why does unemployment sometimes rise during a recession?

• Why do countries trade with one another?

Once students understand the links between these ideas, Economics becomes much more logical and much easier to remember.

Who enjoys studying Economics?

Economics is an excellent subject for students who are curious about the world around them.

If you enjoy asking questions such as:

• Why are house prices so expensive?

• Why does inflation rise?

• Why do governments borrow money?

• Why do some countries become richer than others?

• Why do businesses increase or reduce their prices?

then you'll probably enjoy studying Economics.

One of the things I particularly enjoy about teaching the subject is linking economic theory to current affairs, helping students see how the ideas they learn in class explain what they hear in the news every day.

Developing valuable skills

A-Level Economics isn't just about learning economic theory.

Students also develop valuable skills, including:

• Analysing evidence

• Interpreting data

• Evaluating different viewpoints

• Constructing logical arguments

• Writing well-structured essays

• Applying theory to current affairs

These are skills that are valued not only by universities but also by employers in a wide range of careers.

How I can help

Whether you're choosing A-Level subjects or already studying Economics and looking for extra support, I'd be delighted to help.

I offer one-to-one A-Level Economics tuition for AQA and Edexcel students, either online across the UK or face-to-face in Wiltshire.

If you'd like to discuss your goals or find out whether tuition is right for you, please get in touch for a free introductory call.