Economics
“La economía es el arte de aprovechar al máximo la vida. El arte de usar lo que tenemos para asegurar lo que no tenemos.” – Lionel Robbins
Subject information
ENTRY DETAILS
Exam board: Pearson Edexcel IAL
Specification: Pearson Edexcel International Advanced A-Level in Economics (YEC01)
HOW I WILL BE ASSESSED?
Examination: The course is examined in January and June of both Year 12 and Year 13
COURSE DETAILS
Unit 1: Markets in Action
- Introductory concepts
- Consumer behaviour and demand
- Supply
- Price determination
- Market failure
- Government intervention in markets
Unit 2: Macroeconomics performance and policy
- Measures of economic performance
- Aggregate demand (AD)
- Aggregate supply (AS)
- National income
- Economic growth
- Macroeconomic objectives and policies
Unit 3: Business Behavioury
- Types and sizes of businesses
- Revenue, costs and profits
- Market structures and contestability
- Labour markets
- Government intervention
Unit 4: Developments in the global economy
- Causes and effects of globalisation
- Trade and the global economy
- Balance of payments, exchange rates and international competitiveness
- Poverty and inequality
- The role of the state in the macroeconomy
- Growth and development in developing, emerging and developed economies
ASSESSMENT OVERVIEW, DURATION AND WEIGHTING
Paper 1 – Written examination 2 hours (25% of qualification – 80 marks)
Paper 2 – Written examination 2 hours (25% of qualification – 80 marks)
Paper 3 – Written examination 2 hours (25% of qualification – 80 marks)
Paper 4 – Written examination 2 hours (25% of qualification – 80 marks)
| Exam Papers | % of IAL | Assessment overview |
|---|---|---|
| Paper 1 – (Jan Y12) | 25 | Section A: Six multiple-choice questions (6 marks). Section B: Five short-answer questions (20 marks). Section C: A five-part question, based on data provided in a source booklet (34 marks). Section D: One 20-mark essay question from a choice of two (20 marks). |
| Paper 2 – (June Y12) | 25 | Section A: Six multiple-choice questions (6 marks). Section B: Five short-answer questions (20 marks). Section C: A five-part question, based on data provided in a source booklet (34 marks). Section D: One 20-mark essay question from a choice of two (20 marks). |
| Paper 3 – (June Y13) | 25 | Section A: Six multiple-choice questions (6 marks). Section B: A five-part question, based on data provided in a source booklet (34 marks). Section C: Two 20-mark essay questions from a choice of three (40 marks). |
| Paper 4 – (Jan Y13) | 25 | Section A: Six multiple-choice questions (6 marks). Section B: A five-part question, based on data provided in a source booklet (34 marks). Section C: Two 20-mark essay questions from a choice of three (40 marks). |
WIDER READING
World News.
Financial times, The Economist.
Richard Shotton, Choice Factory (ISBN 085719609X).
Haskel and Westkale, Capitalism without Capital (ISBN 0691183295).
David Pilling, Growth Delusion (ISBN 1408893703).
Kate Raworth, Doughnut Economics (ISBN 9781847941398).
Ha-Joon Chang, 23 Things They Don’t Tell You About Capitalism (ISBN 1608193381).
