OCR A-Level Economics
Explore your course, one topic at a time.
Course H460
Course version · H460Version from Sept 2021Change version
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Explore your topics
98 study areas
Microeconomics25 topics
1.1 The economic problem
Component 1: Microeconomics - 1. Introduction to Microeconomics - 1.1 The economic problem9 objectives1.2 The allocation of resources
Component 1: Microeconomics - 1. Introduction to Microeconomics - 1.2 The allocation of resources5 objectives1.3 Opportunity cost
Component 1: Microeconomics - 1. Introduction to Microeconomics - 1.3 Opportunity cost4 objectives2.1 Specialisation and trade
Component 1: Microeconomics - 2. The role of markets - 2.1 Specialisation and trade4 objectives2.2 Demand
Component 1: Microeconomics - 2. The role of markets - 2.2 Demand5 objectives2.3 Supply
Component 1: Microeconomics - 2. The role of markets - 2.3 Supply5 objectives2.4 Consumer and producer surplus
Component 1: Microeconomics - 2. The role of markets - 2.4 Consumer and producer surplus4 objectives2.5 The interaction of markets
Component 1: Microeconomics - 2. The role of markets - 2.5 The interaction of markets4 objectives2.6 Elasticity
Component 1: Microeconomics - 2. The role of markets - 2.6 Elasticity9 objectives2.7 The concept of the margin
Component 1: Microeconomics - 2. The role of markets - 2.7 The concept of the margin3 objectives2.8 Market failure and externalities
Component 1: Microeconomics - 2. The role of markets - 2.8 Market failure and externalities3 objectives2.9 Information failure
Component 1: Microeconomics - 2. The role of markets - 2.9 Information failure6 objectives
12 of 25 shown
Macroeconomics24 topics
1.1 Circular flow of income
Component 2: Macroeconomics - 1. Aggregate demand and aggregate supply - 1.1 Circular flow of income2 objectives1.2 Aggregate demand
Component 2: Macroeconomics - 1. Aggregate demand and aggregate supply - 1.2 Aggregate demand5 objectives1.3 Aggregate supply
Component 2: Macroeconomics - 1. Aggregate demand and aggregate supply - 1.3 Aggregate supply3 objectives1.4 The interaction of aggregate demand and supply
Component 2: Macroeconomics - 1. Aggregate demand and aggregate supply - 1.4 The interaction of aggregate demand and supply3 objectives1.5 The multiplier and the accelerator
Component 2: Macroeconomics - 1. Aggregate demand and aggregate supply - 1.5 The multiplier and the accelerator7 objectives2.1 Economic growth
Component 2: Macroeconomics - 2. Economic policy objectives - 2.1 Economic growth8 objectives2.2 Development
Component 2: Macroeconomics - 2. Economic policy objectives - 2.2 Development4 objectives2.3 Employment
Component 2: Macroeconomics - 2. Economic policy objectives - 2.3 Employment5 objectives2.4 Inflation
Component 2: Macroeconomics - 2. Economic policy objectives - 2.4 Inflation6 objectives2.5 Balance of payments
Component 2: Macroeconomics - 2. Economic policy objectives - 2.5 Balance of payments6 objectives2.6 Trends in macroeconomic indicators
Component 2: Macroeconomics - 2. Economic policy objectives - 2.6 Trends in macroeconomic indicators2 objectives2.7 Income distribution and welfare
Component 2: Macroeconomics - 2. Economic policy objectives - 2.7 Income distribution and welfare6 objectives
12 of 24 shown
Assessment and exam guidance
What Gets Top Grades
A*/Grade 9
Knowledge & Understanding
Demonstrates comprehensive and accurate knowledge
- Uses correct subject-specific terminology
- Shows detailed understanding of concepts
- Makes accurate connections between topics
- Demonstrates depth beyond surface-level knowledge
Application
Applies knowledge effectively to new contexts
- Selects relevant knowledge for the question
- Adapts understanding to unfamiliar scenarios
- Uses examples appropriately
- Shows awareness of context
Analysis & Evaluation
Develops sophisticated analytical arguments
- Constructs logical chains of reasoning
- Considers multiple perspectives
- Weighs evidence to reach justified conclusions
- Acknowledges limitations and nuances
Key Command Words
OCR
State
1 mark
Give a single fact or term
Identify
1 mark
Name or select
Describe
2-4 marks
Account of process or features
Explain
3-6 marks
Give reasons with BUSINESS-FACING outcomes
Analyse
6-9 marks
Examine methodically showing cause→effect→outcome
Evaluate
9-12 marks
Judge, weigh up evidence, reach SYNOPTIC conclusion
Tips and common mistakes
Common Exam Mistakes
Pitfalls to avoid in your exams
- •Confusing short-run and long-run cost curves.
- •Failing to correctly label axes or curves in diagrams for economies of scale or diminishing returns.
- •Misinterpreting the difference between profit satisficing and profit maximisation.
- •Inability to distinguish between internal and external economies of scale.
- •Incorrectly calculating marginal revenue or marginal cost from provided data tables.
- •Confusing a movement along the demand curve with a shift of the demand curve
- •Failing to label axes correctly (Price on Y-axis, Quantity on X-axis)
- •Incorrectly identifying the causes of shifts versus movements along the curve
Top Examiner Tips
Expert advice for exam success
- •Ensure you can clearly distinguish between productive and allocative efficiency.
- •Be prepared to evaluate the relative merits of different economic systems rather than just describing them.
- •Use the command word definitions provided in the specification to guide the depth of your response.
- •Ensure diagrams are correctly labelled with axes (e.g., Good X and Good Y)
- •Clearly distinguish between a movement along the PPC and a shift of the PPC
- •When evaluating the usefulness of opportunity cost, consider both its application in real-world decision making and its limitations
- •Ensure diagrams are correctly labeled with price and quantity axes
- •Clearly distinguish between movements along curves and shifts of curves when evaluating market changes
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