Economics
Specialists - Cambridge Pre-U
Requirements
The keys to a good result at Pre-U Economics are:
- the ability to think logically;
- an interest in current affairs;
- the ability to communicate these to the examiner.
These skills will be developed during the two years of the course.
The subject is taught in a discursive manner so those who read newspapers and watch the news will find it most interesting. Assessment is based on a combination of data response, supported choice and essay type questions. It is not necessary to take Mathematics as a Specialist to achieve a high grade in Economics.
Outline of the course
The first year covers the theoretical ideas that are the tools of economic analysis. We will cover the fundamental economic question of the scarcity of resources, how the free market works (demand & supply), how the market fails, and what governments can do to make the economy more efficient. The second area we will cover will be the management of and problems faced by the UK economy at the start of the 21st Century. These are clearly changing from week to week and emphasise the peculiarly topical nature of the subject.
The second year consolidates and expands the theory that has been encountered in the first year. This will allow a greater depth of study in a number of areas such as development economics and theory of the firm.
The exam comprises three papers:
1. Multiple choice, short answer and data response.
2. Essay paper (Three essays of 45 minutes each).
3. Long essay (1 hour 15 minutes) on prescribed and prepared topics on either the Chinese Economy or Transport and the Environment.
Combinations with other subjects
Economics can be linked successfully with almost all other areas of study. However, because Economics and Business and Management do contain an overlap in content, we advise that they should not be taken together. Many Carthusians combine Economics with Sciences e.g. Economics with Physics and Chemistry. Economics with Mathematics is a particularly appropriate choice. The more traditional amalgam of Economics/ History/ Politics/ Geography is still one followed by many. Modern Languages with Economics makes a useful career-orientated combination.
University courses and careers
As well as going on to study for first degrees in Economics, many Carthusians use their acquired knowledge to enter fields such as accountancy, law, business, information technology and political science, or use it as a basis for studying Modern History or Geography. Economics opens up a wide range of career paths. It should be noted that Pre-U Mathematics (or equivalent) is a prerequisite for the study of Economics at all the best UK universities. Indeed, candidates would be at an advantage if they were also to take Further Mathematics.
SHORT COURSE - EdExcel AS
Requirements
The aim of AS Economics is to give an introduction to the ideas that drive individuals, firms and governments to make choices. It is suitable for anyone who has:
- an interest in current affairs and the UK economy; and
- the ability to think logically.
The subject is taught in a discursive manner so those who read newspapers and watch the news will find it most interesting. Assessment is based on short answer data response questions rather than the essays that form the core of the Pre-U.
The course will be taught over one year for eight hashes a week.
Outline of the course
The course is divided into two parts:
- Unit 1 covers the working of the market mechanism in relation to particular markets, for example commodities, labour or stock market. We also consider the range of ways in which markets may fail; understand the implications of market failure for individuals, firms and government.
- Unit 2 covers the overall UK economy considering such matters as the measures of the recession and its causes. We will study the main UK policy instruments such as interest rate changes and the impact of government spending.
The full outline can be seen at
http://www.edexcel.com/migrationdocuments/GCE%20New%20GCE/spec-gce-economics.pdf
Combinations with other subjects
AS Economics is offered as a fourth choice for First Year Specialists. Because Economics and Business and Management do contain an overlap in content, we advise that they should not be taken together. Apart from this you can combine it with any subject you like.
J.C.Troy