Economics
You only have to read a newspaper or watch TV to realise how the economic system affects our existence and future. In Economics, you will study a range of issues, in micro, you will look at issues like why some workers are paid very well and some aren’t. You will look at markets that work and ones that don’t work, some markets work well, for instance the mobile phone market, others don’t like the market for tobacco or gambling. You will look at bigger national issues in macro, like inflation, unemployment and the standard of living. You will also investigate some of the major international issues that we face, like environmental damage, international development, globalisation and trade. You will look behind some of the headlines and slogans about things like inequality, migration and our relationship with Europe. Economics uses models and theories to help us to understand these problems. To succeed in economics, you will need a combination of logical reasoning skills and the ability to read material and synthesise meaning from the material. It is probably true to say that after having studied economics for A Level, you will have a different view of the world that we live in, the problems that we face and their possible solutions.
Year 1
- Measures of economic performance
- Management of the economy
- Conflicts in economics
- How markets work (supply & demand)
- Market failure
- Solutions to market failure (eg taxation & nationalisation)
Year 2
- Further study on management
- International trade
- Exchange rate systems
- Growth & development
- The theory of the firm
- Labour markets
- In depth study of market failure
- Financial markets & monetary policy
- Commercial banks & investment banks
- Central banks & monetary policy
- Regulation of the financial system
Daniel Francis
Studied: Economics, Computer Science, Applied Law, Physics
Progression: BA Economics, University of Sheffield (graduated with a 2.1) / MSc Finance, University of Sheffield
After overcoming years of adversity during his time at secondary school, Daniel came to Varndean College in 2016 after having been part home educated and part educated at Hove Park School. He initially studied A Levels in Computer Science, Physics and Maths, but after his first year dropped Maths and picked up A Level Economics instead. After originally wanting a career in Computer Science, thanks to the enthusiasm and inspiration given to him by his Economics tutors, Daniel discovered that this was where his real interest lay and decided he wanted to continue his studies in Economics instead.
Daniel says: “I am so thankful for the valuable time I spent at Varndean College; it was three years of my life which I hold very fond memories of. I owe a lot to my two Economics tutors, Alrik and Will, who gave me the inspiration to succeed and Jo, my Law tutor, who was an absolute joy to be taught by. I was proud to have achieved an A grade in my A Level Economics (only 1 mark off an A*) in 2019 and went on to study BA Economics at the University of Sheffield, graduating with a 2.1 in 2022. I continued to study at Sheffield for a MSc in Finance (having been awarded a year’s full scholarship) for which I am now predicted a Distinction. I have also recently undertaken an internship at West Hill Capital in London.”
Course Essentials
Courses Available
A Level
PLUS
Grade 5 in GCSE Maths
Grade 4 in GCSE English Language
How The Course is Assessed
100% exam
Career Pathways
Students go on to degree courses in Economics, Business Studies, Politics and many other subjects. Economics can lead to careers in journalism, business and law.
Transferable Skills
Reasoning and analytical skills; the ability to abstract important information from material, both written and numerical; evaluative skills; the ability to critically analyse situations.
Other Information
Trips are arranged, for example to the Bank of England, New York, The Economist, London.
Enquiries To
Courtney Anderson: cea@varndean.ac.uk