Economics

Key Stage 5 Economics

Exam Board and Specification

Economics follows the Edexcel specification 9EC0. More detailed information on the course content can be found in the Full Course Specification, pages 5 to 37.

The qualification is structured into four themes and consists of three externally examined papers. Students build knowledge and understanding of core economic models and concepts in Themes 1 and 2, and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4.

Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.

Final assessment is at the end of Year 13 consisting of three written exams.

Word Cloud

Topics/Skills Taught

Year 12

Theme 1: Introduction to markets and market failure

This theme focuses on microeconomic concepts.

Students will develop an understanding of:

  • nature of economics
  • how markets work
  • market failure
  • government intervention.

Theme 2: The UK economy - performance and policies

This theme focuses on macroeconomic concepts.

Students will develop an understanding of:

  • measures of economic performance
  • aggregate demand
  • aggregate supply
  • national income
  • economic growth
  • macroeconomic objectives and policy

Year 13

Theme 3: Business behaviour and the labour market

This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics.

Students will develop an understanding of:

  • business growth
  • business objectives
  • revenues, costs and profits
  • market structures
  • labour market
  • government intervention.

Theme 4: A global perspective

This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context.

Students will develop an understanding of:

  • international economics
  • poverty and inequality
  • emerging and developing economies
  • the financial sector
  • role of the state in the macroeconomy

Extra-Curricular Opportunities