Course overview
Study for your official AQA GCSE Economics course from home or alongside work. This is perfect if you want to go on and study A Level Economics.
Learn the foundations of economics including production, costs, revenue and profit and understand the national economic structure.
Recognition
Study method
- Online
- Blended
- In-class
Duration study load
You will have up to 1 year to for the full GCSE Economics course from the date you receive your materials. You will be able to study at your own pace and in your own time without the pressure of tight deadlines.
Entry requirements
There are no specific entry requirements for this course.
Course features
- Dedicated personal tutor support
- Dedicated student support
- Accreditation
- Assignment marking and feedback
- Free CV critique service
- Free employability guide to help you impress future employers
- Free XO Student Discounts card
- Comprehensive study guide*
- Open Study College pen and highlighter*
- Student study planner*
- Student notebook*
- Document wallet*
* Not included with the online study option
Assessment
Throughout your course, you will have 8 tutor-marked assignments to test your progress and knowledge of the units. If you want to receive the full GCSE qualification you will need to sit the official exams.
There are 2 written exam papers. A more detailed breakdown of the exam details is provided below.
Course outcome
Once you have studied the course and successfully passed the examinations, you will be awarded your AQA GCSE Economics.
You will achieve grade between 1-9 depending on your performance in your exams.
Exam details
Paper 1: How markets work
Topics assessed:
- Economic foundations
- Resource allocation
- How prices are determined
- Production, costs, revenue and profit
- Competitive and concentrated markets
- Market failure
Assessment type
Written exam (1 hour 45 minutes)
80 marks
50% of GCSE
Question types
- Section A: 10 multiple choice questions followed by a range of calculation, short and extended response questions.
- Section B: 5 questions involving a mix of calculations, short and extended responses
Paper 2: How the economy works
Topics assessed:
- Introduction to the national economy
- Government objectives
- How the government manages the economy
- International trade and the global economy
- The role of money and financial markets
Assessment type:
Written exam: 1 hour 45 minutes
80 marks
50% of GCSE
Question types
- Section A: 10 multiple choice questions followed by a range of calculation, short and extended response questions.
- Section B: 5 questions involving a mix of calculations, short and extended responses.
Delivery
This course enables you to study for your Economics GCSE by distance learning at home or at work. Your course materials will be sent by post or online, so receiving your materials is easy and hassle-free. Full tutor support will be available via email, so help is only a click away!
Subjects
- Economic activity
- The factors of production
- Making choices
- Markets and allocation of resources
- Economic sectors
- Specialisation, division of labour, and exchange
- Demand for goods and services
- Supply for goods and services
- Equilibrium price
- Intermarket relationships
- Price elasticity of demand
- Price elasticity of supply
- The importance of cost, revenue and profit for producers
- Production and productivity
- Economies of scale
- The importance of market structures on producers and consumers
- Competitive markets
- Non-competitive markets
- The labour market
- Misallocation of resources
- Externalities
- Interest rates, saving, borrowing, spending and investment
- Government income and expenditure
- Economic objectives of the government
- Economic growth
- Employment and unemployment
- Inflation and price stability
- Balance of payments
- Distribution of income
- Fiscal policy
- Monetary policy
- Supply-side policies
- Policies to correct positive and negative externalities
- Why countries trade and the importance of international trade to the UK
- Exchange rates
- Free-trade agreements including the European Union
- Globalisation: benefits and drawbacks
- The role of money
- The role and importance of the financial sector for the economy
About Open Study College
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