A Level Economics

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Common Questions

Economics is the study of how resources are used in societies and the factors that influence resource use. Microeconomics considers these decisions from an individual and firm's point of view. Macroeconomics considers these decisions from a government, national and international level. Typical topics covered include supply and demand; market failure; market structures; government intervention; fiscal and monetary policy, exchange rates and international trade.

1. Organise your study materials 2. Create a revision schedule 3. Familiarise yourself with your exam papers, format and timings 4. Use active recall techniques to consolidate knowledge 5. Practice past papers/topic questions 6. Balance work with healthy habits and rest 7. Review and self-test on a regular basis

Similar to Mathematics, Economics is a very logical subject. Basic principles are learnt and then these have to be applied to different situations. The difficulty (and enjoyment) in the subject lies in being able to apply theory to a situation and then analyse and evaluate the potential outcomes. 10 Economists may all have different interpretations based on their insight or different interpretation of data.

Economics provides an excellent understanding of how economies function. Irrespective of your career, this understanding can help you to make better decisions - decisions about your career, your financial choices, and your health. The study of economics also provides insight into what and how government actions will have an influence on your life. This perhaps will make you a more informed voter and help you to be more connected to the political process in the country.