WJEC Eduqas A Level Economics specification (A520)
Understanding the exam specification is key to doing well in your WJEC Eduqas 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 WJEC Eduqas 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 WJEC Eduqas A Level Economics (A520) 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 WJEC Eduqas specification PDF.
Specification overview
This A Level Economics qualification from Eduqas encourages learners to explore microeconomic and macroeconomic theories through critical engagement with real-world issues at local, national and global levels. It aims to develop an enquiring mind, analytical thinking, and confidence in applying economic concepts. With a strong emphasis on economic modelling, quantitative skills and contemporary context, the course prepares students for further study in economics or related fields, while fostering understanding of how economic behaviour and policy shape society.Subject content breakdown
Microeconomics
- Scarcity, choice, opportunity cost, economic goods vs free goods
- PPFs: growth, shifts, efficiency, marginal cost
- Specialisation, productivity, division of labour
- Demand and supply in product markets: utility, elasticity, equilibrium
- Labour markets: wage determination, migration, minimum wage
- Resource allocation in a free market: price mechanism, rationality
- Business costs, revenues, profits, growth, efficiency
- Market structures: perfect competition, monopoly, oligopoly, monopolistic competition
- Government intervention: taxation, subsidies, regulation, minimum/maximum prices
- Market failure: public goods, externalities, inequality, monopoly power
- Government failure and policy evaluation
Macroeconomics
- Circular flow, injections/withdrawals, equilibrium, multiplier
- Aggregate demand and supply (AD/AS): SRAS, LRAS, shifts, interaction
- Phillips curve (SR and LR), output gaps, business cycle
- Economic objectives: growth, employment, inflation, BoP, inequality
- Unemployment: measurement, causes, policy responses
- Inflation and deflation: indices, causes, consequences, policies
- Balance of payments: current account, trade, terms of trade, policies
- Public sector debt: structural/cyclical, crowding out, fiscal strategy
- Fiscal policy: taxation, spending, Laffer curve, AD/AS impacts
- Monetary policy: interest rates, inflation targeting, QE, direct intervention
- Financial stability: regulation, asset bubbles, post-2008 impacts
- Exchange rates: floating/managed, determinants, Marshall-Lerner, competitiveness
- Supply-side policies: LRAS, product/factor market reforms
Trade and Development
- Free trade and protectionism: comparative advantage, WTO, tariffs, quotas
- Globalisation: FDI, mobility, trade impacts
- UK trade and global integration: sectors, policy evaluation
- EU and EMU: benefits, costs, optimal currency area
- Development: GDP, HDI, PPP, economic structure, health/education
- LEDC challenges: debt, poor infrastructure, resource curse, governance
- Development solutions: liberalisation, aid, FDI, policy reform
Assessment structure
Component 1: Economic Principles
- Written exam: 1 hour 30 minutes
- 60 marks; 30% of A Level
- Section A: multiple choice
- Section B: structured questions
- Assesses full A Level content
Component 2: Exploring Economic Behaviour
- Written exam: 2 hours 30 minutes
- 80 marks; 30% of A Level
- Compulsory data response questions
- Assesses full A Level content
Component 3: Evaluating Economic Models and Policies
- Written exam: 2 hours 30 minutes
- 90 marks; 40% of A Level
- Section A: Microeconomics (1 essay from 2)
- Section B: Macroeconomics (1 essay from 2)
- Section C: Trade and Development (1 essay from 2)
Minimum 20% of total marks assess quantitative skills across all components:contentReference[oaicite:0]{index=0}.
Key tips for success
Doing well in your WJEC Eduqas 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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