A Level - Economics Exam Format: Examination: 1 Hour 15 Minutes
A Level - Economics Exam Format: Examination: 1 Hour 15 Minutes
Exam Format
A Level Economics consists of 4 units in total:
AS Level = 2 units
A2 Level = 2 units
AS Level
Unit 1: ECON1 – Markets and Market Failure
Examination: 1 hour 15 minutes
A2 Level
Unit 3: ECON3 – Business Economics and the Distribution of Income
Examination: 2 hours
Course summary
This course is designed to allow you to study at your own pace and is designed to
develop an interest and understanding of economics in the real world, both on a
business and personal level.
This course is suitable to be studied by all students irrespective of age, creed, religion or
gender.
Read on to find out more about our A Level Economics distance learning course and how
you can learn with our amazing materials and online support.
Course Content
An outline of what is offered in our A Level Economics course:
AS Level
Unit 1: ECON1 – Markets and Market Failure
• The Economic Problem
• The Allocation of Resources in Competitive Markets
• Production and Efficiency
• Market Failure
• Government Intervention in the Market
A2 Level
Unit 3: ECON3 – Business Economics and the Distribution of Income
• The Firm: Objectives, Costs and Revenues
• Competitive Markets
• Marketing Strategies
• Concentrated Markets
• The Labour Market
• Government Intervention in the Market
Market Failure
• The Meaning of Market Failure
• Public Goods
• Positive and Negative Externalities in Consumption and Production
• Merit and Demerit Goods
• Monopoly and the Allocation of Resources
• Immobility of Factors of Production
• Inequalities in the Distribution of Income and Wealth
How the Macro-economy works: AD/AS analysis, the circular flow of income
and related concepts
• Circular flow of income
• Aggregate Demand (AD) and Aggregate Supply (AS) Analysis
• The Determinants of Aggregate Demand
• Aggregate Demand and the Level of Economic Activity
• Determinants of Short-Run Aggregate Supply
• Determinants of Long-Run Aggregate Supply
Economic Performance
• The Objectives of Government Economic Policy
• Economic Growth
• Inflation and Deflation
• Employment and Unemployment
• The Balance of Payments on Current Account
Macroeconomic Policy
• Fiscal Policy
• Monetary Policy
• Supply-Side Policies
Concentrated Markets
• Monopoly and Oligopoly
• Price Makers and Price Takers
• The Growth of Firms
• Sources of Monopoly Power
• The Model of Monopoly
• Collusive and Non-Collusive Oligopoly
• Interdependence in Oligopolistic Markets
• Price Discrimination
• Consumer and Producer Surplus
• Contestable and Non-contestable Markets
• Market Structure, Static Efficiency, Dynamic Efficiency and Resource Allocation
Macroeconomic Indicators
• The Economic Cycle and Economic Growth
• Uses of National Income Data
• Unemployment
• Inflation and Deflation
Summary of Assessments
Unit 1: ECON1 – Markets and Market Failure
• 50% of AS Level
• 25% of A Level
• 1 hour 15 minutes examination
• 75 marks
• Section A: 25 compulsory objective test items, 25 marks
• Section B: Two optional data response questions are set; candidates answer
one, 50 marks
Assignment Information
Throughout the course there will be self-assessment questions, and tutor marked
questions, to enable students to monitor their progress.
It is recommended that 150 hours of your time should be allocated towards study for the
A2 examinations.
Recommended Reading:
AQA AS Economics Student Book, 2nd edition
by Chris Vidler and Charles Smith
ISBN-10: 0435692224
ISBN-13: 978-0435692223
Support
As a student of UK Open Learning you will have access to tutor via email who will mark
your work and guide you through the course to ensure you are ready for your
examinations.
Examination Centres
UK Open Learning will provide you with a list of examination centres but it is entirely
your responsibility to find a centre which will accept you as an external candidate.
In some cases you should be prepared to travel to another town or city to take your
exams.
The contract for sitting exams is between you and the centre and we will provide you
with comprehensive instructions on when and how to deal with the examination centre.
Please email for a list of centres and we will provide you with a link or a PDF for you to
contact centres directly. We are unable to provide this information by telephone.
Entry Requirements
Basic English reading and writing skills. It is recommended that students should have
acquired the skills and knowledge associated with a GCSE course or equivalent.
Pre-requisites
To take an A Level with UK Open Learning it is recommended that you should have a
GCSE grade C or above in your chosen subject.
Qualification
AS +A2 = A level in Economics. Both AS and A2 level courses and examinations must be
successfully completed to gain a full A level.
Language of Examination
Units are provided in English only
Q. Why can I not take my exams when I have completed the course and why do I have
to wait?
A. Exams are taken at the same times as schools and colleges and are not flexible.
Q. I want to take my exams but there are only a few months to study, is this possible?
A. Depending on the time of year, it is sometimes impossible to complete your studies in
a short space of time as your work has to be marked and checked. More importantly the
examination boards have cut off times which are not flexible. See our web site for
further information.