Economics is a subject for the curious. The A-level Economics course at HABs is designed to deepen pupils understanding of the world around them and to be able to engage with the changing times that we live in. Pupils develop skills in analysis, reasoning and evaluation which we hope will empower them both for University and for life.
We study the OCR specification (attached) at AS and A level and pupils have bespoke classes in Marcoeconomics and Microeconomics.
In Microeconomics students will learn:
- The basic economic problem. How are the world’s resources allocated?
- How individual markets work
- Supply, demand and market equilibrium.
- How markets can be productively and allocatively efficient
- How and why prices of goods and services change
- How to calculate costs and revenue
- Market failure
- How the government can intervene in markets
- Government failure, how and why some government intervention has unwanted consequences
In Macroeconomics students will learn:
- How national economies grow
- The causes, consequences and solutions to national unemployment
- What inflation is, how it is measured and how it can be controlled
- Global and national trends in economies
- How total demand for goods and services in an economy changes
- How the total good and services supplied in an economy changes
- How the government make decisions around taxation and spending
- The consequences of different government policies
- How international trade works
- Why currencies have different values and how the exchange rate works