To study how the modern world works. Explaining how a country can become richer, through a balance of private enterprise and government involvement. Looking at the advantages and disadvantages of free markets - such as pollution and inequality. Also studying how a government attempts to tackle those problems whilst also encouraging trade and employment and controlling inflation.
Economics is the study of how the modern world works. How is the price of oil arrived at and what impact does it have on businesses and the economy? Will you be able to afford a house? Why is education and health care ‘free’ in Britain? Why are cigarettes, alcohol and petrol taxed so heavily? What can be done about poverty, both in the UK and around the world? Do state benefits make people lazy? Should you be setting money aside for a pension? What can be done about climate change? Will Britain prosper outside of the EU? These are all economic questions.
Economics has an excellent reputation as a subject because students must be both literate and numerate. You will be taught how to interpret information from a graph or table, weigh up arguments and explain different points of view. Exams will require you to answer multiple choice questions, respond thoughtfully to data given to you and write essays.
Almost every field of management, in the private sector and working for the government, values an A Level in Economics. It tells employers you have an intelligent interest in how the world works and are familiar with the language of management. You would be very well placed to follow a career in Accountancy, Business, Commerce, Journalism, Law or to take a wider management role anywhere from a hospital to a bank. Economics also has a first class reputation for rigour and will be viewed very favourably should you apply for university.