• Units
• Assessment objectives

Units

Please find below the units which are available for this qualification.

Unit A591: How the Market Works

Unit description	Assessment incl. duration	Weighting
Candidates will consider the basic economic problem and how it affects the allocation of resources in competitive markets Candidates will learn how price is determined through the forces of demand and supply and how a firm competes in the market.	Computer-based test or written examination 1 hour	25%

Unit A592: How the Economy Works

Unit description	Assessment incl. duration	Weighting
Candidates will consider three of the main variables in the economy and how these are influenced by government policy The unit will cover the expenditure and revenue of government, including taxes and the effects that these have on the economy.	Written examination 1 hour	25%

Unit A593: The UK Economy and Globalisation

Unit description	Assessment incl. duration	Weighting
Candidates will build on the knowledge and skills gained in Units A591 and A592 while looking at the UK economy and globalisation Candidates will look at trade and its implications, at local, national and global levels.	Written examination 1 hour 30 minutes	50%

 

Assessment objectives

The assessment objectives are designed to reflect the non-statutory guidelines for Economics.

Candidates are expected to demonstrate the following in the context of the content described:

AO1

Recall, select and communicate their knowledge and understanding of concepts, issues and terminology.

AO2

Apply skills, knowledge and understanding in a variety of contexts.

AO3

Analyse and evaluate evidence, make reasoned judgements and present appropriate conclusions.

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