Markets and Market Failure The focus of this unit is to introduce the subject of economics and more specifically the economics problem. Other areas of study include the working of supply and demand in competitive markets, monopoly, production and efficiency, why markets fail and the reasons for government interventions.
The National Economy This unit deals with the performance of the UK economy and the government’s economic aims and objectives. It goes on to explain how the economy works and how the government can influence economic outcomes.
Business Economics and the Distribution of Income This module centres on business behaviour in different markets. It also deals with the labour market and explains the distribution of income. Interventions in the labour market by government is also analysed.
The National and International Economy The final module brings together many of the concepts studied previously. It deals with many of the headline issues in economics such as inflation, unemployment, economic growth, International trade and globalisation.