A Level Economics: A Guide for Students

If you're considering taking A Level Economics, you're in for a challenging and rewarding experience. Economics is a fascinating subject that explores how individuals, firms, and governments make decisions about allocating scarce resources. This knowledge is essential for understanding the functioning of the global economy and the forces that shape our daily lives. In this blog post, we will provide an overview of what you need to know about taking A Level Economics as a subject.

What is A Level Economics?

A Level Economics is a two-year course offered by most Junior Colleges in Singapore.

The course is divided into two parts: Microeconomics and Macroeconomics. Microeconomics focuses on the behavior of individual consumers and firms, while Macroeconomics examines the broader economic issues affecting the entire economy, such as inflation, unemployment, and economic growth.

What Will You Learn in A Level Economics?

In A Level Economics, you will learn about a variety of topics, including supply and demand, market structures, inflation, unemployment, and economic growth. You will also learn about the various economic theories and models used to analyze these topics and how they can be applied to real-world problems.

For example, you will learn about the principles of supply and demand and how they determine the prices and quantities of goods and services in a market. You will also learn about the different types of market structures, such as perfect competition, monopolistic competition, oligopoly, and monopoly, and how they affect the behavior of firms and consumers.

In Macroeconomics, you will learn about the broader economic issues affecting the entire economy. For example, you will learn about inflation, which is the rate at which the general level of prices for goods and services is rising, and how it is measured and the factors that cause it. You will also learn about unemployment, which is the percentage of the labor force that is without work but is available and seeking employment, and how it is measured and the factors that influence it.

How is A Level Economics Assessed?

For students taking H2 Economics, you will take

Paper 1 - 2 Case studies comprising of both short answer questions, data analysis questions as well as higher order mini essay questions. This takes up 40% of your total grade

Paper 2 - Choose 3 of 6 Essays to write. Each essay is around 25 marks and you have 2 hour 30 minutes to complete the 3 essays. This takes up 60% of your total grade.

H1 Economics is slightly lighter - you take only 1 paper and you have 3 hours to complete 2 case studies of 45 marks each.

Is A Level Economics Right for You?

A Level Economics is a challenging and demanding subject that requires a strong work ethic, excellent problem-solving skills, and the ability to think critically and analytically. If you're interested in understanding how the global economy works, enjoy analyzing data and solving problems, and have a strong foundation in mathematics, then A Level Economics may be the right subject for you.

Career Prospects with an A Level Economics Qualification

An A Level Economics qualification can open up a wide range of career opportunities in fields such as finance, banking, consulting, and government. In addition, a strong foundation in economics can be useful in a variety of other fields, such as law, journalism, and business.

Conclusion

A Level Economics is a challenging and rewarding subject that provides students with a deep understanding of the fundamental principles of economics and their applications.