A-level Economics Distance Learning Course
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A LEVEL – ECONOMICS
Exam Format
A Level Economics consists of 4 units in total:
AS Level = 2 units
A2 Level = 2 units
AS Level
Unit 1: ECON1 – Markets and Market Failure
Examination: 1 hour 15 minutes
Unit 2: ECON2 – The National Economy
Examination: 1 hour 15 minutes
A2 Level
Unit 3: ECON3 – Business Economics and the Distribution of Income
Examination: 2 hours
Unit 4: ECON4 – The National and International Economy
Examination: 2 hours
Course summary
This course is designed to allow you to study at your own pace and is designed to develop an interest and understanding of economics in the real world, both on a business and personal level.
No prior knowledge of the subject is required, however basic knowledge is desirable.
It is recommended that students have attained GCSE or equivalent communication and literacy skills in English and numeracy skills in mathematics.
Read on to find out more about our A Level Economics distance learning course and how you can learn with our amazing materials and online support.
Course Outline
An outline of what is offered in our A Level Economics course:
AS Level
Unit 1: ECON1 – Markets and Market Failure
The Economic Problem
The Allocation of Resources in Competitive Markets
Production and Efficiency
Market Failure
Government Intervention in the Market
Unit 2: ECON2 – The National Economy
Introduction to Macroeconomics
How the Macro-economy works
Economic performance
Macroeconomic policy
A2 Level
Unit 3: ECON3 – Business Economics and the Distribution of Income
The Firm: Objectives, Costs and Revenues
Competitive Markets
Marketing Strategies
Concentrated Markets
The Labour Market
Government Intervention in the Market
Unit 4: ECON4 – The National and International Economy
Macroeconomic Indicators
Managing the national economy
The international economy
Course Content
Unit 1: ECON1 – Markets and Market Failure
The Economic Problem
Nature and Purpose of Economic Activity
Economic Resources
The Economic Objectives of Individuals, Firms and Government
Scarcity, choice and the allocation of resources
Production Possibility Diagrams
Value Judgements, Positive and Normative statements
The Allocation of Resources in Competitive Markets
The Determinants of the Demand for Goods and Services
Price, Income and Cross Elasticity’s of Demand
The Determinants of the Supply of Goods and Services
Price Elasticity of Supply
The Determination of Equilibrium Market Prices
Demand and Supply Analysis to Particular Markets
The Interrelationship Between Markets
How Markets and Prices Allocate Resources
Production and Efficiency
Specialisation, Division of Labour and Exchange
Production
Economies and Diseconomies of Scale
Market Failure
The Meaning of Market Failure
Public Goods
Externalities in Consumption and Production
Merit and Demerit Goods
Monopoly and the Allocation of Resources
Immobility of Factors of Production
Inequalities in the Distribution of Income and Wealth
Government Intervention in the Market
Rationale for Government Intervention
Methods of Government Intervention to Correct Distortions
The Impact of Government Intervention on Market Outcomes
Government Failure
Unit 2: ECON2 – The National Economy
Introduction to Macroeconomics
The Measurement of macroeconomic performance
Macroeconomic Indicators
The Economic Cycle
How the Macro-economy works: AD/AS analysis, the circular flow of income and related concepts
Circular flow of income
Aggregate Demand (AD) and Aggregate Supply (AS) Analysis
The Determinants of Aggregate Demand
Aggregate Demand and the Level of Economic Activity
Determinants of Short-Run Aggregate Supply
Determinants of Long-Run Aggregate Supply
Economic Performance
The Objectives of Government Economic Policy
Economic Growth
Inflation and Deflation
Employment and Unemployment
The Balance of Payments on Current Account
Macroeconomic Policy
Fiscal Policy
Monetary Policy
Supply-Side Policies
Unit 3: ECON3 – Business Economics and the Distribution of Income
The Firm: Objectives, Costs and Revenues
The objectives if firms
The Divorce of ownership from control
The Law of diminishing returns and returns to scale
Fixed and Variable Costs,Marginal, Average and Total Costs
Economies and Diseconomies of Scale
Technological Change
Total, Average and Marginal Revenue
Competitive Markets
The Model of Perfect Competition
Competition and the Efficient Allocation of Resources
The Dynamics of Competition and Competitive Market Processes
Concentrated Markets
Monopoly and Oligopoly
Price Makers and Price Takers
The Growth of Firms
Sources of Monopoly Power
The Model of Monopoly
Collusive and Non-Collusive Oligopoly
Interdependence in Oligopolistic Markets
Price Discrimination
Consumer and Producer Surplus
Contestable and Non-contestable Markets
Market Structure, Static Efficiency and Dynamic Efficiency
The Labour Market
The Demand for Labour, Marginal Productivity Theory
Influences upon the Supply of Labour to Different Markets
Competitive Labour Markets
Imperfectly Competitive Labour Markets
The Impact of a National Minimum Wage Rate
Discrimination in the Labour Market
Government Intervention in the Market
Market failure and Government failure
Competition Policy
Notions of Equity
The Problem of Poverty
Cost Benefit Analysis
Unit 4: ECON4 – The National and International Economy
Macroeconomic Indicators
The Economic Cycle and Economic Growth
Uses of National Income Data
Unemployment
Inflation and Deflation
Managing the National Economy
Macroeconomic Models and Policies
Fiscal Policy
Supply-Side Policies
Monetary Policy, the
Money Supply and Interest Rates
Exchange Rate Policy
The International Economy
Globalisation
Trade
The balance of payments
Exchange rate systems
The European Union
Summary of Assessments
Unit 1: ECON1 – Markets and Market Failure
50% of AS Level
25% of A Level
1 hour 15 minutes examination
75 marks
Section A: 25 compulsory objective test items, 25 marks
Section B: Two optional data response questions are set; candidates answer one, 50 marks
Unit 2: ECON2 – The National Economy
50% of As Level
30% of A Level
1 hour 15 minutes examination
75 marks
Section A: 25 compulsory objective test items, 25 marks
Section B: Two optional data response questions are set; candidates answer one, 50 marks
Unit 3: ECON3 – Business Economics and the Distribution of Income
25% of A Level
2 hour examination
80 marks
Section A: Two optional data response questions are set; candidates answer one, 40 marks, one question will always relate to the global context and the other to the European Union context.
Section B: Three optional essay questions are set; candidates answer one, 40 marks
Unit 4: ECON4 – The National and International Economy
25 % of A Level
2 hour examination
80 marks
Section A: Two optional data response questions are set; candidates answer one, 40 marks, one question will always relate to the global context and the other to the European Union context.
Section B: Three optional essay questions are set; candidates answer one, 40 marks
Assignment Information
Throughout the course there will be self-assessment questions, and tutor marked questions, to enable students to monitor their progress.
Recommended hours of study
It is recommended that 200 hours of your time should be allocated towards study for the A Level Examinations.
Recommended Reading
AQA AS Economics Student Book, 2nd edition
by Chris Vidler and Charles Smith
ISBN-10: 0435692224
ISBN-13: 978-0435692223
AQA A2 Economics Student's Book
by Jim Lawrence, Steve Stoddard
ISBN-10: 0748799656
ISBN-13: 978-0748799657
Revision Guide to AS & A2 Level Economics – James Keefe
Publisher – Informe
ISBN – 0 907529 70 4
Support
As a student of UK Open Learning you will have access to tutor via email who will mark your work and guide you through the course to ensure you are ready for your examinations.
Examination Centres
UK Open Learning will provide you with a list of examination centres but it is entirely your responsibility to find a centre which will accept you as an external candidate.
In some cases you should be prepared to travel to another town or city to take your exams.
Please visit AQA for exam information.
http://www.aqa.org.uk/admin/p_private.php
The contract for sitting exams is between you and the centre and we will provide you with comprehensive instructions on when and how to deal with the examination centre.
Entry Requirements
Basic English reading and writing skills.
Qualification
AS +A2 = A level in Economics. Both AS and A2 level courses and examinations must be successfully completed to gain a full A level.
Language of Examination
Units are provided in English only
Frequently Asked Questions
Q. Do your courses meet the latest syllabus changes?
A. yes, all our course materials meet any changes and will be updated free of charge if further changes are made.
Q. Why do I have to find a centre myself?
A. We have students all over the UK and Europe and it is impossible for us to arrange dates and times for individual students.
Q. What if I cannot find an examination centre in my home town?
A. If you wish to gain the qualification then be prepared to travel it is worth it!
Q. How much are exam fees?
A. These vary from centre to centre so please check with your local centre.
Q. Are the courses paper based or on-line?
A. All our courses are paper based and come in attractive sturdy folders.
Q. How do I contact my tutor?
A. Tutors are all working Teachers or Lecturers so contact is by email only.
Q. Why can I not take my exams when I have completed the course and why do I have to wait?
A. Exams are taken at the same times as schools and colleges and are not flexible.
Q. I want to take my exams but there are only a few months to study, is this possible?
A. Depending on the time of year, it is sometimes impossible to complete your studies in a short space of time as your work has to be marked and checked. More importantly the examination boards have cut off times which are not flexible. See our web site for further information.
Q. Will I receive UCAS points on completion of this course?
A. Yes all of our A Levels carry UCAS points. The number of points awarded will depend on the grade you achieve.
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CODE |
PRICE |
INSTALMENTS |
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AL8 |
£395.00 |
6 @ Months at £65.84 |
|
Pay in full at the time of ordering
and you will receive the 10% discount (deducted at checkout) | |
