Economics is the study of production and allocation of resources. It’s about how society copes with the ‘economic problem’ – the existence of unlimited wants and scarce resources.
How do people and institutions make decisions? As a society, how do we decide who gets what? How do we even measure changes in human welfare? When we study this, it transpires that economic decisions affect almost everything else. Economics determines the society we live in, our politics, our art, culture, the kinds of jobs we do, the sorts of families we belong to. Economics mixes technical skills of data analysis with making an argument and essay writing skills. Students learn how markets work, how and why they sometimes fail to work, they learn about central economic objectives like keeping inflation or unemployment at sustainable levels and the policy instruments that can be used to influence these. As such, Economics suits all-rounders and develops students’ grasp of current affairs. Students finish the course with developed ideas about issues with protectionist trade policies, ideas about nationalisation of important goods and services, the fairness of wage levels, environmental problems attached to economic growth, and the likely impacts of quantitative easing. In short, students of Economics become much better informed people.
Sixth Form, A-Level | option subject
In this course students will learn about both microeconomics and macroeconomics. Microeconomics is the study of individual markets. It explores how supply and demand interact to determine the price of goods and services, and the quantity produced and consumed. Macroeconomics focuses on broader economic issues that apply at a national and international level. Students will learn about concepts such as economic growth, recession, unemployment, inflation, exchange rates and the distribution of income.
– Grade 7 at both (I)GCSE Mathematics and English Language. Many degree-level Economics courses have A-Level Mathematics as an entry requirement. Potential candidates for Economics at Oxbridge and LSE should seriously consider A-Level Further Mathematics.
– Edexcel A-Level 9EC0 Economics
John Lyon Success
– 42% of A-Level students achieved A*-B grades.
– Dhiren Harji (2019) left John Lyon to read Economics at the University of Warwick.
Outside the Classroom
The John Lyon extra-curricular programme contains clubs and societies useful not only to students studying Economics at A-Level, but also to younger pupils who may be considering it as a future academic option. These include Boom Hub, Business Society and Social Sciences Seminar.
A-Level Economics is a highly respected qualification that will strongly underpin applications for university and employment in a wide range of professions. It is often associated with the financial, administrative and business sectors of the economy. As Economics requires students to write fluently, think critically and apply mathematical techniques, it is often seen as a bridge between traditional and social sciences. Success in A-Level Economics suggests that a student is multi-dimensional, analytical and capable of developing a coherent argument.