Economics
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Exam board for Economics
AQA · A-Level
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About Economics
What is Economics?
Studying Economics equips you with the tools to understand how the world works—from why prices rise and fall to how governments tackle unemployment and inflation. You'll explore both microeconomics (the behaviour of individuals and firms) and macroeconomics (the economy as a whole), learning to apply theoretical models to real-world situations. Throughout the course, you'll develop skills in logical reasoning, data analysis, and critical evaluation, which are invaluable for making sense of complex issues like market failure, international trade, and economic policy.
Economics is a dynamic and relevant subject that connects directly to current events. You'll learn to interpret economic data, construct arguments, and assess the impact of government interventions. These skills are highly transferable and prepare you not only for further study in economics, business, finance, or politics, but also for a wide range of careers. By combining quantitative methods with essay-based analysis, Economics fosters both numerical and literacy skills, making it an excellent foundation for university and beyond. It encourages you to think independently and evaluate competing viewpoints, a skill that is prized by employers and higher education institutions alike.
Why Study Economics?
What You'll Learn
Where Economics can take you
Where Economics Can Take You
Career paths and opportunities for Economics students
Investment Banker
Economics provides a deep understanding of financial markets, risk assessment, and corporate finance, which are essential for advising companies on mergers and raising capital. The quantitative and analytical skills honed through studying economics are directly applied to building financial models and evaluating investment opportunities.
Economic Consultant
This career relies on applying economic theory and econometric techniques to solve business and legal problems, such as estimating damages in competition cases or forecasting market trends. A background in economics gives you the toolkit to conduct rigorous analysis and communicate insights clearly to clients.
Government Policy Advisor
Advisors use economic principles to design and evaluate public policies, from taxation and welfare to environmental regulation. Studying economics teaches you to assess trade-offs and unintended consequences, enabling you to create evidence-based recommendations that can improve society.
Data Analyst
Economics develops strong quantitative skills, including statistical analysis and the interpretation of large datasets, which are essential for a data analyst. You'll learn to identify trends, test hypotheses, and present findings visually, preparing you to drive data-informed decisions in any sector.
Accountant
A solid grasp of economic principles helps accountants understand the broader business environment and make strategic financial decisions. Economics coursework trains you to think critically about costs, revenues, and market conditions, complementing the technical skills of accountancy and enhancing your ability to add value to clients or organisations.
Common questions
- What is the difference between Economics and Business Studies?
- Economics focuses on the broader economic environment and how resources are allocated at a societal level, covering topics like inflation, market failure, and global trade. Business Studies, on the other hand, looks at the internal workings of individual organisations, including management, marketing, and operations. While both involve finance and strategy, Economics is more theoretical and analytical, often using mathematical models, whereas Business Studies is more practical and case-study based. Many students find that Economics complements Business Studies well, offering a deeper understanding of the external factors affecting firms.
- Do I need to be good at maths to study Economics at A-level?
- A strong foundation in maths is helpful, but you don't need to be a genius. A-level Economics requires you to interpret graphs, calculate percentages and index numbers, and occasionally use simple formulas. The mathematical demands are generally not as high as in A-level Mathematics, but comfort with numbers and logical thinking is important. If you achieved at least a grade 6 in GCSE Maths, you should be well prepared. Many students without A-level Maths do very well by focusing on the application and evaluation of economic concepts rather than complex calculations.
- What topics are covered in A-level Economics?
- The A-level Economics course is split into microeconomics and macroeconomics. Micro topics include supply and demand, market structures, labour markets, market failure, and government intervention. Macro topics cover aggregate demand and supply, economic growth, inflation, unemployment, international trade, and monetary and fiscal policy. You'll also study behavioural economics and the distribution of income and wealth. The specification includes quantitative skills and the application of economic models to real-world contexts. Exact topics can vary slightly between exam boards, but all major UK boards (AQA, Edexcel, OCR) follow a similar structure.
- Is Economics a hard A-level?
- Economics is considered a challenging but rewarding A-level. It requires both analytical rigour and strong essay-writing skills, so it’s a step up from GCSEs in terms of depth and independent thinking. The difficulty lies in applying theoretical concepts to unseen contexts and evaluating policies critically. However, with consistent effort and a genuine interest in current affairs, most students find it manageable. According to Ofqual, Economics has a difficulty level comparable to other social sciences like History and Geography, and the pass rates are high for well-prepared students.
- Can I study Economics at university without A-level Economics?
- Yes, many top universities accept students without A-level Economics, especially if you have A-level Maths. Economics degrees often value mathematical ability more than prior economics knowledge because the course involves a significant amount of quantitative modelling. That said, taking A-level Economics gives you a useful head start and demonstrates your enthusiasm for the subject. Check specific university entry requirements: some may list Economics as a preferred subject, but few make it mandatory. If you’re aiming for highly competitive courses, A-level Maths is usually strongly recommended or required.
- What jobs can you get with an Economics degree?
- An Economics degree opens doors to a vast range of careers due to the mix of analytical, quantitative, and communication skills it provides. Common destinations include investment banking, management consulting, economic consulting, government policy, and data analysis. Many graduates also enter finance roles such as accountancy, actuarial work, or trading. The degree is also respected in law, journalism, and international development. Employers value economists’ ability to interpret complex data and provide clear recommendations, making economics graduates highly employable across both the private and public sectors.
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