OCR A Level Economics specification (H460)
Understanding the exam specification is key to doing well in your OCR A Level Economics exam. It lays out exactly what you need to learn, how you'll be assessed, and what skills the examiners seek. Whether you're working through the course for the first time or revising for your final exams, the specification helps you stay focused and confident in your preparation.
We've included helpful revision tools to support you in putting the specification into practice. Wherever you're starting from, you'll find everything you need to feel prepared, from the official specification to high-quality resources designed to help you succeed.
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In the next section, you'll find a simplified summary of the official OCR A Level Economics specification, along with a breakdown of key topics, assessment structure, and useful study resources. We've also included links to topic-level guides and revision tools to help you put the specification into practice.
Contents
Disclaimer
This page includes a summary of the official OCR A Level Economics (H460) specification, provided to support your revision. While we've made every effort to ensure accuracy, Save My Exams is not affiliated with the awarding body.
For the most complete and up-to-date information, we strongly recommend consulting the official OCR specification PDF.
Specification overview
This A Level Economics qualification from OCR provides a balanced and rigorous foundation in both microeconomics and macroeconomics. It equips students to ‘think as economists’ by developing critical thinking, quantitative skills, and the ability to apply theory to contemporary issues. The course encourages a holistic understanding of economic decision-making and its implications in real-world, national and international contexts. Through a synoptic assessment structure, students are challenged to draw links between concepts and apply knowledge analytically and evaluatively across all components.
Subject content breakdown
Component 1: Microeconomics
- The economic problem: scarcity, choice, agents, opportunity cost
- Resource allocation: market, planned and mixed economies; efficiency
- Demand and supply: elasticities, surplus, interactions, marginal concepts
- Market failure: externalities, public goods, information failure, government intervention
- Business objectives: profit, growth, CSR, satisficing, principal-agent problem
- Costs, revenue, profit: short/long run, diminishing returns, economies of scale
- Market structures: perfect competition, monopoly, monopolistic competition, oligopoly, contestable markets
- Labour market: wage determination, elasticity, monopsony, trade unions
Component 2: Macroeconomics
- Aggregate demand and supply: AD/AS models, shifts, equilibrium
- Circular flow of income: injections, leakages, multiplier, accelerator
- Economic policy objectives: growth, development, inflation, employment, BoP, inequality
- Macroeconomic indicators: GDP, CPI/RPI, HDI, Gini coefficient, Lorenz curve
- Policy tools: fiscal, monetary, supply-side, trade-offs, Phillips Curve
- Global context: trade patterns, globalisation, comparative advantage, WTO, protectionism
- Exchange rates: systems, changes, impacts
- Financial sector: money creation, interest rates, central banks, financial regulation
Component 3: Themes in Economics
- No additional content: integrates and applies knowledge from micro and macro
- Based on an unseen theme covering multiple economic contexts and concepts
Assessment structure
Microeconomics (H460/01)
- 2-hour written paper
- 80 marks; 33.33% of A Level
- Data response and extended response questions
- Includes one quantitative and one non-quantitative extended essay (choice of two each)
Macroeconomics (H460/02)
- 2-hour written paper
- 80 marks; 33.33% of A Level
- Same structure as Paper 1 but focuses on macroeconomic content
Themes in Economics (H460/03)
- 2-hour written paper
- 80 marks; 33.33% of A Level
- 30 multiple choice questions (AO1–AO4), short answer, and extended response based on an unseen theme
Minimum 20% of marks assess quantitative skills across all components
Key tips for success
Doing well in your OCR A Level Economics isn't just about how much you study, but how you study. Here are a few proven tips to help you stay on track
- Start with a clear plan: Break the subject into topics and create a revision schedule that allows enough time for each. Start early to avoid last-minute stress.
- Focus on understanding, not memorising: Use our revision notes to build a strong foundation in each topic, making sure you actually understand the material.
- Practise regularly: Attempt past papers to familiarise yourself with the exam format and timing. Mark your answers to see how close you are to full marks.
- Be strategic with your revision: Use exam questions by topic to focus on weaker areas, and flashcards to reinforce important facts and terminology.
- Learn from mistakes: Whether it's from mock exams or practice questions, spend time reviewing what went wrong and why. This helps prevent repeat mistakes in the real exam.
- Stay balanced: Don't forget to take regular breaks, eat well, and get enough sleep, a healthy routine makes revision much more effective.
With the right approach and consistent practice, you'll build confidence and improve your chances of exam success.
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