Cambridge OCR
Level 3
QN: 601/4799/4
Curriculum Active
Cambridge OCR Level 3 Advanced GCE in Economics
Official qualification regulated by Ofqual, awarded by Cambridge OCR. Classified as a GCE A Level. Total guided learning hours: 360 hours.
Qualification Level
Level 3
Awarding Body
Cambridge OCR
Syllabus Units
3 Units
Guided Hours
360 hrs
Instant access to interactive lessons, quizzes, and spaced revision.
Course Syllabus & Study Modules
Complete breakdown of verified curriculum topics and learning objectives.
1
Aggregate Demand and Aggregate Supply
Aggregate Demand (AD)
Verified
Key Learning Objectives:
- Explain the components of AD: C+I+G+(X-M)
- Analyse factors that shift the AD curve
2
Aggregate Demand and Aggregate Supply
Aggregate Supply (AS)
Verified
Key Learning Objectives:
- Distinguish between short-run and long-run AS
- Explain the Keynesian and classical views of AS
3
Aggregate Demand and Aggregate Supply
Macroeconomic Equilibrium
Verified
Key Learning Objectives:
- Determine equilibrium output and price level using AD/AS
- Analyse the effects of demand-side and supply-side shocks
4
Economic Policy Objectives and Instruments
Fiscal Policy
Verified
Key Learning Objectives:
- Explain the role of government spending and taxation
- Evaluate the effectiveness of fiscal policy in achieving macroeconomic objectives
5
Economic Policy Objectives and Instruments
Monetary Policy
Verified
Key Learning Objectives:
- Explain the role of interest rates and money supply
- Evaluate the effectiveness of monetary policy
6
Economic Policy Objectives and Instruments
Supply-Side Policy
Verified
Key Learning Objectives:
- Identify supply-side policies: deregulation, privatisation, tax reforms
- Evaluate the impact of supply-side policies on productivity and growth
7
Financial Markets and Monetary Policy
Monetary Policy Transmission
Verified
Key Learning Objectives:
- Explain the transmission mechanism of monetary policy
- Evaluate the effectiveness of quantitative easing
8
Financial Markets and Monetary Policy
The Role of Financial Markets
Verified
Key Learning Objectives:
- Explain the functions of financial markets: intermediation, risk pooling, liquidity
- Evaluate the role of central banks in regulating financial markets
9
How Markets Work
Demand
Verified
Key Learning Objectives:
- Explain the law of demand and factors causing shifts in demand
- Calculate price elasticity of demand (PED) and interpret its value
10
How Markets Work
Market Equilibrium and Disequilibrium
Verified
Key Learning Objectives:
- Determine equilibrium price and quantity from demand and supply
- Analyse the effects of changes in demand and supply on equilibrium
11
How Markets Work
Supply
Verified
Key Learning Objectives:
- Explain the law of supply and factors causing shifts in supply
- Calculate price elasticity of supply (PES) and interpret its value
12
Macroeconomic Performance
Macroeconomic Objectives
Verified
Key Learning Objectives:
- List and explain the main macroeconomic objectives: economic growth, low unemployment, low inflation, balance of payments stability
- Explain potential conflicts between objectives
13
Macroeconomic Performance
Measures of Economic Performance
Verified
Key Learning Objectives:
- Calculate and interpret GDP, CPI, and unemployment rate
- Distinguish between nominal and real GDP
14
Macroeconomics
Verified
Key Learning Objectives:
- Understand key principles, terminology and concepts of Macroeconomics
- Apply practical skills, procedures and techniques in Macroeconomics
- Evaluate performance, standards and best practices for Macroeconomics
15
Market Failure and Government Intervention
Government Intervention
Verified
Key Learning Objectives:
- Evaluate taxes, subsidies, regulation, and tradable permits
- Analyse the effectiveness of government policies in correcting market failure
16
Market Failure and Government Intervention
Types of Market Failure
Verified
Key Learning Objectives:
- Identify and explain externalities, public goods, and information gaps
- Use diagrams to illustrate positive and negative externalities
17
Microeconomics
Verified
Key Learning Objectives:
- Understand key principles, terminology and concepts of Microeconomics
- Apply practical skills, procedures and techniques in Microeconomics
- Evaluate performance, standards and best practices for Microeconomics
18
Scarcity and Choice
Production Possibility Frontiers (PPF)
Verified
Key Learning Objectives:
- Construct and interpret PPF diagrams
- Explain shifts of the PPF and points inside/outside the frontier
19
Scarcity and Choice
The Basic Economic Problem
Verified
Key Learning Objectives:
- Define scarcity, choice, and opportunity cost
- Explain the basic economic problem of unlimited wants and finite resources
20
The Global Context
Balance of Payments
Verified
Key Learning Objectives:
- Explain the structure of the balance of payments
- Analyse causes and consequences of deficits and surpluses
21
The Global Context
Exchange Rates
Verified
Key Learning Objectives:
- Explain how exchange rates are determined in floating and fixed systems
- Analyse the effects of exchange rate changes on trade and inflation
22
The Global Context
International Trade
Verified
Key Learning Objectives:
- Explain the theory of comparative advantage
- Evaluate the impact of protectionism and free trade
23
Themes in economics
Verified
Key Learning Objectives:
- Understand key principles, terminology and concepts of Themes in economics
- Apply practical skills, procedures and techniques in Themes in economics
- Evaluate performance, standards and best practices for Themes in economics
Regulatory & Verification Details
- Qualification Number (QN)
- 601/4799/4
- Regulated Status
- Available to learners
- Awarding Body
- Cambridge OCR
- Qualification Type
- GCE A Level
- Operational Start
- Sept 2015