Economics (A Level) – Level 3

Theme 1: Introduction to markets and market failure – the nature of economics, scarcity and opportunity cost, production possibility frontiers, specialisation and trade, how demand and supply determine prices, elasticities, market failure and government intervention.

Theme 2: The UK economy – performance and policies – economic growth, inflation, employment and unemployment, the balance of payments, aggregate demand and supply, macroeconomic objectives and demand-side and supply-side policies.

Theme 3: Business behaviour and the labour market – business growth and objectives, revenues, costs and profits, economies and diseconomies of scale, market structures (including perfect competition, monopolistic competition, oligopoly, monopoly and monopsony), labour markets and government intervention.

Theme 4: A global perspective – international trade and competitiveness, trading blocs, protectionism, exchange rates, the balance of payments, poverty and inequality, economic development, the financial sector and the role of the state in the macroeconomy.

This is a 2 year course studied September – June, with potential exams/coursework hand in dates/extra sessions in July.

At least five GCSEs at Grade 4/5 or above, including GCSE English language at Grade 5 and mathematics at Grade 6.

As well as the entry requirements above you will also need to meet the specific requirements for the A Level courses you choose.

Assessment is through three externally examined papers, all taken in May/June:

Paper 1: Markets and business behaviour – Themes 1 and 3; 2 hours; 100 marks; 35%.

Paper 2: The national and global economy – Themes 2 and 4; 2 hours; 100 marks; 35%.

Paper 3: Microeconomics and macroeconomics – content across all four themes, with synoptic assessment; 2 hours; 100 marks; 30%.

Questions include multiple-choice and short-answer questions, data response and extended open-response questions.

Students must apply knowledge to familiar and unfamiliar contexts, analyse issues and evaluate arguments using qualitative and quantitative evidence.

The qualification supports progression to university courses such as Economics, Applied Economics, Business Economics, Mathematical Economics and Business. It also develops transferable quantitative, analytical, critical-thinking and commercial-awareness skills useful for employment.

Career areas include finance, banking, insurance, accountancy, management, consultancy and professional economics.

A calculator is permitted in all assessments and students must have a suitable calculator with them for examinations. Students will also need normal stationery and access to appropriate reading, research and data-analysis resources.

Tuition fees are free if you are a UK or home-fee status student and aged 16-18 on the 31st August before the start of your course.

Additional financial support may also be available for full-time students – click here to find out more.

Click ‘Apply Now’ button at the top of this page which will take you to an application form to apply for A Levels. You only need to apply once for A Level programmes. After receiving your application form, you will be invited to attend an informal interview where you will have a chance to discuss which specific A Level subjects you would like to enrol on. Click here to download the full time application form.

If you have any queries with regards to your application or you would like further information and support, please contact our Admissions Team on 01642 333601, or if you have any enquiries about courses, please contact Course Information on 01642 333333 or e-mail CourseInformation@mbro.ac.uk.

All full-time students will be offered a number of options to secure at least 10 days of meaningful work experience during the year. This can help develop employability skills and support progression to higher-level study or employment.