Economics Years 12 and 13
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Year 12 A Level Economics (Edexcel Economics A) |
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Term 1 |
Term 2 |
Term 3 |
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- Scarcity as the fundamental economic problem - Production possibilities frontierx - Rational behaviour and opportunity costs - The nature of economics as a social science - Law of Supply - Law of Demand - The price mechanism: how free markets allocate resources - Producer and consumer surplus - Market failures - Government intervention to correct market failures |
- Business growth - Costs, revenues, and profits - Business objectives: profit maximisation vs revenue maximisation vs sales maximisation - Types of firms - Types of markets: perfect competition, monopolistic competition, oligopoly, and monopoly - Game theory and pricing strategies - Efficiency |
- Government intervention to correct lack of competition - Labour markets and other factor markets - Monopsony, Unions, and Bilateral Monopoly - Employment and unemployment - Aggregate Supply: LRAS vs SRAS, Keynesian vs Classical - Aggregate Demand
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Assessment |
Assessment |
Assessment |
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Vocabulary quizzes Concept tests Past exam questions as homework |
Concept tests Short, exam-style tests Mock Paper 1 |
Short, exam-style tests Essay |
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Year 13 A Level Economics (Edexcel Economics A) |
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Term 1 |
Term 2 |
Term 3 |
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- Measures of economic performance - Real vs Potential Economic Growth - The business cycle - Causes of inflation - Macroeconomic objectives - Supply side policy - Fiscal Policy - Monetary policy and quantity theory of money - Globalization and theories of trade -
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- Terms of trade and balance of payments - Exchange rates and currency markets - Protectionism - The financial sector, with a focus on moral hazard and the 2007-2008 mortgage meltdown - Poverty and inequality - Constant reference to the macroeconomic objectives outlined in Term 1
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- Emerging and developing economies: models of growth - The role of the state in the macro economy
- Revision and Exam Prep
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Assessment |
Assessment |
Assessment |
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Vocabulary quizzes Short-exam style tests Essays |
Mocks Papers 1 & 2 Essays Past exam questions as homework |
Essays Mock paper 3 Past exam questions as homework |
How we assess students’ understanding in the classroom:
- Constant, no-opt-out questioning
- Frequent diagrammatic analysis
- Start of lesson “do now” mini assessments
- In-class individual and group problem solving
How we support learning:
- Modelling reasoning through exemplar answers
- Scaffolding questions in order to help students access and apply their content knowledge
- Focus on literacy and real world application
- Targeted current events analysis
- One-to-one or small group sessions frequently offered to interested students
How parents can support learning:
- Encourage students to read economic news
- Ask students to explain what they have learned: the ability to articulate a chain of reasoning is a marker of analytical thinking