EXAM BOARD 

EDEXCEL 

STRUCTURE OF COURSE 

Component 1: 

Introduction to markets and market failure

Component 2: 

The UK economy- performance and policies

Component 3: 

Business behaviour and the labour market

Component 4: 

A global perspective 

ASSESSMENT 

Paper 1 examines content from component 1 and component 3. This is done through a 2 hour written examination. Paper 2 examines content from components 3 and 4. This is done though a 2 hour written examination. Paper 3 examines content from all units. This is done through a 2 hour written examination. 

CONTENT 

Component 1 

Includes: The economic problem, division of labour, demand and supply, elasticity, taxes and subsidies, externalities and market failure 

Component 2 

Includes: Government objectives, consumption, investment, balance of payments, fiscal and monetary policy, causes of growth, supply side policies 

Component 3 

Includes: Business objectives, costs/revenue/profit, market structures, competition policy, wage determination, government intervention 

Component 4 

Includes: Globalisation, financial markets, international competitiveness, exchange rates, measures of development, poverty, strategies to improve development 

POSSIBLE CAREER PATHS 

Economist, investment banker, financial analyst, accountant, journalist, solicitor, international development consultant, stockbroker, actuary, trader, hedge fund manager 

POSSIBLE SUBJECT COMBINATIONS 

Economics goes very well with Politics, Geography, English, Maths and modern foreign languages. Economics is a social science and fits very well with any combination of subjects.