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Economics
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Exam board for Economics
AQA · GCSE
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About Economics
What is Economics?
Studying Economics gives you a powerful toolkit for understanding how the world works – from why prices rise and fall to how governments tackle unemployment and inequality. At its core, Economics is the study of scarcity and choice. You'll explore microeconomics, which looks at the decisions of individuals and firms, and macroeconomics, which focuses on the bigger picture of national and global economies. Through engaging with real-world examples, from the cost-of-living crisis to international trade wars, you'll learn to evaluate economic policies and their impact on society, making the subject not only intellectually stimulating but incredibly relevant to everyday life.
This subject develops a wide range of transferable skills that are highly valued by universities and employers. You'll become skilled in interpreting data, constructing logical arguments, and thinking critically about complex issues. The discipline of evaluating competing viewpoints and evidence nurtures a rigorous analytical mindset. Whether it's calculating inflation rates, forecasting market trends, or assessing the fairness of tax systems, Economics equips you with the ability to break down problems and propose evidence-based solutions.
Beyond A-level, Economics opens doors to a vast array of further education and career paths. A degree in Economics, often combined with Politics, Philosophy, or Mathematics, is a springboard for professions in finance, government policy, international development, and consulting. The subject's emphasis on strategic thinking and quantitative analysis means that Economics graduates are consistently in high demand, enjoying some of the highest earning potentials across disciplines. By studying Economics, you're building a foundation for understanding not just markets, but the very fabric of societal decision-making.
Why Study Economics?
What You'll Learn
Where Economics can take you
Where Economics Can Take You
Career paths and opportunities for Economics students
Chartered Accountant
The study of Economics provides a deep understanding of financial systems, costs, and market behaviour, which is essential for a career in accountancy. You'll learn to analyse financial data, assess risk, and ensure businesses operate efficiently—skills directly applicable to auditing, tax, and corporate finance roles.
Economic Consultant
As an economic consultant, you'll tackle complex business problems such as forecasting market demand, pricing strategies, and regulatory impact. A strong foundation in economic theory and quantitative methods, built through A-level and degree-level study, prepares you to advise firms and governments on critical decisions.
Policy Analyst (Government or Think Tank)
Economics teaches you how to evaluate policy outcomes, weigh trade-offs, and interpret statistical evidence—precisely what a policy analyst does. With this background, you can shape public policy in areas like healthcare, education, or environmental sustainability, working for government departments, charities, or research institutes.
Investment Banker
Investment banking demands a sharp understanding of financial markets, asset valuation, and risk management—all core pillars of Economics. The subject's rigorous training in data handling and strategic analysis gives you a competitive edge in this high-stakes, fast-paced sector.
Data Analyst
In our data-driven world, the ability to interpret economic data sets you apart as a data analyst. Economics hones your skills in recognising patterns, testing hypotheses, and communicating insights clearly, making you invaluable to tech companies, retailers, and financial institutions seeking to harness data for strategic advantage.
Common questions
- Is Economics a hard subject at A-level?
- Economics at A-level is intellectually demanding but very manageable with consistent effort. It's less reliant on memorisation and more on applying concepts to real-world situations. While there is some maths involved (calculating percentages, interpreting graphs), the main challenge lies in developing analytical and evaluative writing skills. Many students find it highly rewarding because you're constantly linking theory to the world around you. If you enjoy discussions about current affairs and are willing to think logically, you'll thrive.
- What GCSEs do I need to study Economics at A-level?
- Most sixth forms don't require you to have studied Economics before. However, a strong grade in Maths (often a 6 or above) is typically expected because of the numerical elements. Proficiency in English is also important for essay writing. It's advisable to check individual school entry requirements, but in general, a solid set of GCSEs including Maths and English will set you up well.
- Can I study Economics at university without A-level Maths?
- This depends on the university. Many prestigious institutions (like Oxbridge, LSE, Warwick) require A-level Maths, often at a high grade, because university Economics is very mathematical. However, some universities offer less quantitative Economics degrees or accept applicants without Maths if they have strong grades in subjects like Economics or Business. For competitive courses, taking Maths to AS or A-level significantly broadens your options.
- What's the difference between Economics and Business Studies?
- Economics takes a wider, more theoretical view of how economies function, examining decision-making by individuals, firms, and governments. Business Studies focuses specifically on the practical management of a business, covering topics like marketing, finance, and operations. While there's overlap, Economics involves more data analysis and abstract reasoning about societal issues, whereas Business is about running an organisation. Both complement each other, but Economics is often seen as a social science, closer to Politics or Philosophy.
- What jobs can you get with an Economics degree?
- An Economics degree is one of the most versatile qualifications you can hold. Graduates enter banking, consultancy, government, insurance, and major corporations in roles ranging from risk analyst to economic advisor. It also provides an excellent foundation for law conversion courses, journalism, and entrepreneurship. The analytical and quantitative skills you acquire are in high demand, leading to strong employment rates and earning potential.
- Is Economics an essay-based subject?
- Yes, A-level Economics involves extended writing, especially for evaluation questions where you must weigh arguments and reach a supported conclusion. You'll learn to structure essays that apply theory to case studies or data. While it's not purely an essay subject—there are short-answer and multiple-choice questions—the ability to write clearly and analytically is crucial to achieving top marks. Your grades will reflect both your understanding of concepts and your ability to communicate that understanding coherently.
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