BY ARINA RAUF

So after two years of A Level Economics, you decide to take it a step further and pursue it at university level. But after attending university open houses and reading up on their offerings, you may still have some unanswered questions. 

What’s the difference between A Level Economics and university Economics? Is there a big jump in terms of content? Is A Level Economics knowledge relevant? Would an applicant be disadvantaged if he or she only took H1 Economics? How can prospective Economics undergraduates prepare for the course before term starts?

To answer the above questions, let’s take a look at the typical economics modules offered at university level, and draw parallels between subjects that junior college students are familiar with.

1. Introduction to Economics: This is a typical introductory module where basic microeconomics and macroeconomics concepts like demand and supply, as well as elasticity concepts, etc. are taught. Usually a breeze if you have previously taken A Level Economics as it can be considered to be a ‘refresher’.

2. Maths & Statistics for Economics: If you struggled with A Level Mathematics like me, this is surprisingly a breeze! Covering familiar albeit easier concepts such as differentiation, normal distribution and data handling, you’ll come to realise that both subjects have more in common than you thought!

3. Microeconomics / Managerial Economics: These modules build upon the basics from introductory modules, and several overlapping topics such as market structure and firm decisions. Brush up on such concepts especially if you are a H1 Economics student! Game theory is also another topic that is newly introduced in such modules - these involve some calculations which may be somewhat familiar to H3 Economics students.

4. Macroeconomics: Again, this module also builds upon the basics from introductory modules. Expect to see more calculation and mathematical concepts being introduced, as well as more in-depth analysis and explanations to key ideas such as the different exchange rate systems and macroeconomic policies.

5. Industrial Economics: This module builds upon microeconomic theory and as the name suggests, it has more to do with firms and industries rather than the economy at large.

6. Monetary Economics: This module builds upon macroeconomic theory and as the name suggests, it has more to do with monetary policies, theories and calculations based on different economic models.

7. Behavioural Economics: If consumer behaviour is something that intrigues you, behavioural economics has the answers to many of the questions which revolve around consumption and spending!

8. Environmental Economics: Love the idea of sustainable economic growth? Fall in love with environmental economics and learn how economies can coexist with the environment, as well as the challenges in doing so.

9. Economic History: For the history buffs out there, this one’s for you! Learn about the history of economics over the years shaped by famous economists whose ideas revolutionised various economic theories you have known, and how each study was built upon many other studies which preceded it.

10. International Political Economy: Arguably one of the most important and relevant modules, IPE covers many aspects of the real world today ranging from trade economics to political repercussions of trade policies such as protectionism and sanctions.

11. Econometrics: Another highly relevant module in today’s context, econometrics is the building block of many economic and banking research. Master this module and you will find it highly applicable even in the working world!

Of course, the above modules are non-exhaustive and may differ from university to university. With that being said, there is no harm doing some self-learning before the term starts! The following is a list of unfamiliar economic concepts which we would recommend reading up on. (P.S. The ETG Library houses some textbooks which our tutors have referenced to during their university days which are available for loan!)

1. Indifference curves

2. Labour market

3. Money market

4. IS-LM model

5. Economic growth models

Also take note that even if you do not plan on pursuing a pure Economics degree or major, many other programmes do have economics modules as prerequisites so don’t throw out your A Level Economics materials just yet!

Disclaimer: This article has been written based on personal experience as a private university undergraduate taking a Bachelor in Science in Economics & Politics.