The Business Economics A level course is divided into four themes and consists of three externally examined papers. Pupils are introduced to Economics through building knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real-world businesses and the environments in which they operate.

Breadth and depth of knowledge and understanding, with applications to more complex concepts and models are developed in the second year of study.

Pupils will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessment and demonstrate an awareness of current economic events and policies.

Theme 1: Markets, Consumers and Firms

• Scarcity, choice and potential conflicts
• Enterprise, business and the economy
• Introducing the market
• Role of credit in the economy
• Market failure and government intervention
• Revenue, costs, profits and cash

Theme 2: The Wider Economic Environment

• Business growth and competitive advantage
• Firms, consumers and elasticities of demand
• Productive efficiency
• Life in a global economy
• Economic cycle
• Introduction to macroeconomic policy

Theme 3: The Global Economy

• Globalisation
• Economic factors in business expansion
• Impact of globalisation on global companies
• Impact of globalisation on local and national economies
• Global labour markets
• Inequality and redistribution

Theme 4: Making Markets Work

• Competition and market power
• Market power and market failure
• Market failure across the economy
• Macroeconomic policies and impact on firms and individuals
• Risk and the financial sector

Examination Board: Edexcel
Specification: 9EB0

Mr C. White – Head of Business & Economics