AQA A-Level Economics
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Course 7136Official specification (opens in a new tab)
Course version · 7136Version from Sept 2015Change version
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14 topics
Individuals, firms, markets and market failure8 topics
Economic methodology and the economic problem
Economic methodology18 objectives- The nature and purpose of economic activity6 objectives
- Economic resources6 objectives
- Scarcity, choice and the allocation of resources6 objectives
- Production possibility diagrams9 objectives
Individual economic decision making
Consumer behaviour15 objectives- Imperfect information9 objectives
- Aspects of behavioural economic theory15 objectives
- Behavioural economics and economic policy12 objectives
Price determination in a competitive market
The determinants of the demand for goods and services6 objectives- Price, income and cross elasticities of demand15 objectives
- The determinants of the supply of goods and services9 objectives
12 of 53 shown
The national and international economy6 topics
The measurement of macroeconomic performance
The objectives of government economic policy12 objectives- Macroeconomic indicators3 objectives
- Uses of index numbers9 objectives
- Uses of national income data9 objectives
How the macroeconomy works: circular flow of income, AD/AS analysis
The circular flow of income18 objectives- Aggregate demand and aggregate supply analysis27 objectives
- The determinants of aggregate demand18 objectives
- Aggregate demand and the level of economic activity15 objectives
- Determinants of short-run aggregate supply6 objectives
- Determinants of long-run aggregate supply12 objectives
Economic performance
Economic growth and the economic cycle36 objectives- Employment and unemployment27 objectives
12 of 25 shown
Assessment and exam guidance
Assessment Objectives
AO1
20%-23%Demonstrate knowledge of terms/concepts and theories/models to show an understanding of the behaviour of economic agents and how they are affected by and respond to economic issues
AO2
26%-29%Apply knowledge and understanding to various economic contexts to show how economic agents are affected by and respond to economic issues
AO3
26%-29%Analyse issues within economics, showing an understanding of their impact on economic agents
AO4
22%-25%Evaluate economic arguments and use qualitative and quantitative evidence to support informed judgements relating to economic issues
Exam Structure
AQA A-Level (7136)
Paper 1: Markets and market failure
2h
Duration
80
Marks
33.3%
Weighting
Paper 2: National and international economy
2h
Duration
80
Marks
33.3%
Weighting
Paper 3: Economic principles and issues
2h
Duration
80
Marks
33.3%
Weighting
Tips and common mistakes
Common Exam Mistakes
Pitfalls to avoid in your exams
- •Stating that economics is an exact science; correction: explain that it is a social science because human behaviour is unpredictable and cannot be measured with absolute precision.
- •Confusing social sciences with natural sciences; correction: explicitly distinguish that social sciences study human society and behaviour, whereas natural sciences study the physical world.
- •Assuming economic models perfectly replicate reality; correction: clarify that models are deliberate simplifications used to understand complex social behaviours.
- •Claiming economists never use the scientific method; correction: state that economists do use the scientific method by forming hypotheses and testing them with empirical data.
- •Ignoring other sciences; correction: remember to compare economics not just to natural sciences, but also to other social sciences like psychology or sociology.
- •Failing to explain why controlled experiments are difficult in economics; correction: explicitly link the inability to control variables to the unpredictable nature of human behaviour and complex social environments.
- •Error: Assuming that all positive statements are factually true. Correction: Recognise that positive statements can be false; their defining feature is that they can be tested against evidence, not that they are correct.
- •Error: Believing that statements containing numbers are automatically positive. Correction: Look for value judgements; "Inflation is 5%, which is too high" contains a number but ends with a normative value judgement.
Top Examiner Tips
Expert advice for exam success
- •Always use the term 'social science' explicitly when defining the nature of economics in introductory questions.
- •Link the concept of a social science directly to the study of human behaviour and the problem of scarcity.
- •Use the assumption of ceteris paribus to explain how economists attempt to study complex social variables systematically.
- •Use the phrase 'ceteris paribus' to demonstrate how economists attempt to isolate variables without a physical laboratory.
- •When asked to compare methodologies, explicitly state similarities and differences with both natural sciences (e.g., controlled experiments) and other social sciences (e.g., use of mathematical models).
- •Look for trigger words like 'should', 'ought', 'fair', or 'better' in multiple-choice questions to quickly identify normative statements.
- •When evaluating economic policies in essays, explicitly distinguish between the positive outcomes (e.g., tax revenue raised) and the normative goals (e.g., improving equity).
- •Remember that a single sentence can contain both positive and normative elements; isolate the testable claim from the subjective opinion.
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