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International A Level Economics Edexcel

Economics supports progression onto university in degrees such as Finance and Banking. You will receive up to 56 UCAS points and expert guidance applying to Universities worldwide including the UK.
  • Awarding Body: Edexcel
  • A' Level Economics: YEC11
    AS Level Economics: XEC11
  • Learning Hours: 360 Hours
  • Fast Track Available
  • Full A Level Qualification
International A Level Economics Edexcel Online Course
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Enrolment Fee £395

Overview

The International A Level Economics Online course with Learn Now follows the Pearson Edexcel (YEC11) specification and is equivalent to the qualification you would achieve if attending mainstream college. Once completed, you will obtain UCAS points which will support progression to university in degrees such as Economics, Finance, Banking and Accounting.

This course would suit adult learners returning to education, students resitting exams or studying alongside other commitments, and learners looking to be accepted into University.

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Syllabus

This International A Level Economics Course with Edexcel will help you develop an interest in, and enthusiasm for, the subject and appreciate the contribution of economics to the understanding of the wider economic and social environment. You will develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts.

This course will develop your analytical and quantitative skills, together with qualities and attitudes that will equip you for the challenges, opportunities and responsibilities of adult and working life.

The Full A Level has four topics you will need to cover (IAS and IA2).  The AS Level has two topics (IAS) and these are all listed below.

IAS Modules

1.3.1 Introductory concepts This topic helps us to understand how individuals, businesses and governments allocate limited resources.  The topics will help us develop an understanding of everyday life such as prices, jobs and how we spend and save money.

  • 1 The nature of economics
  • 2 Positive and normative economics
  • 3 Scarcity
  • 4 Production possibility frontiers
  • 5 Specialisation and the role of money and financial markets
  • 6 Free market, mixed and command economies
1.3.2 Consumer behaviour and demand This topic will focus on consumers and how they make choices due to demand within the market.  It will allow us to understand how everyday decisions are made for example, how people respond to price changes, sales or changes in income.

  • 1 Rational decision making
  • 2 The demand curve
  • 3 Price, income and cross-elasticities of demand
1.3.3 Supply The supply curve helps us understand the relationship between price and the quantity producers are willing to sell.  This topic will help us understand real-life situations and why some products increase in supply quickly when prices go up, whilst others take more time to adjust.

  • 1 The supply curve
  • 2 Price elasticity of supply
1.3.4 Price determination This topic will look at the stability of prices and how they are set through market equilibrium. The price mechanism will tell us how to allocate resources by signalling when to produce more or less of a good.  Taxes such as VAT can also have an increase on prices which in turn can reduce demand.  These factors explain how prices affect what we buy, sell and produce in everyday life.

  • 1 Determination of market equilibrium
  • 2 Consumer and producer surplus
  • 3 Functions of the price mechanism
  • 4 Indirect taxes and subsidies
1.3.5 Market failure This topic will consider situations where markets don’t work efficiently.  This can happen due to external factors or products not being profitable.  It can also be caused be misinformation where people don’t know all the facts to make good decisions.  This is all known as market failure.

  • 1 Sources of market failure
  • 2 Positive and negative externalities
  • 3 Non-provision of public goods
  • 4 Imperfect market information
  • 5 Moral hazard
  • 6 Speculation and market bubbles
1.3.6 Government intervention in markets Sometimes the government will step in to help fix problems like market failure, inequality and provide public goods.  They may also need to protect customers. Government intervention can include taxes, subsidies, regulations and spending.  Sometimes, these actions still don’t help markets and government failure can occur.

  • 1 Purpose and methods of government intervention
  • 2 Government failure
2.3.1 Measures of economic performance A country’s economic performance can be measured through growth, inflation, employment and unemployment.  The balance of payments records a country’s trade and financial transactions with the rest of the world.  All these indicators help us understand how well an economy is doing and how it affects things such as job opportunities, wages and the cost of living.

  • 1 Economic growth
  • 2 Inflation
  • 3 Employment and unemployment
  • 4 Balance of payments
2.3.2 Aggregate demand (AD) Aggregate demand is made up of consumption (spending by households), investment (spending by businesses), government expenditure, and net trade (exports minus imports).  These show where demand in the economy comes from and how it changes.  AD helps us to understand changes in economic activity such as growth, recessions and how spending affects jobs.

  • 1 The characteristics of AD
  • 2 Consumption (C)
  • 3 Investment (I)
  • 4 Government expenditure (G)
  • 5 Net trade balance (X−M)
2.3.3 Aggregate supply (AS) Aggregate supply is the total output of goods and services that an economy can produce.  Short-run aggregate supply (SRAS) is where output can change due to factors like costs and wages.  Long-run aggregate supply (LRAS) shows the economy’s maximum productive capacity.  AS helps us to understand how economics grow, why production increases or decreases and living standards.

  • 1 The characteristics of AS
  • 2 Short-run AS (SRAS)
  • 3 Long-run AS (LRAS)
2.3.4 National income National income is the total value of goods and services produced within an economy.  The equilibrium level of real output shows us where total spending equals total output and in turn, creates stability.

  • 1 National income
  • 2 Injections and withdrawals
  • 3 Equilibrium level of real output
  • 4 The multiplier
2.3.5 Economic growth Economic growth is the increase in a country’s output over a certain amount of time.  It will explore causes of growth such as investment, better technology and an increased workforce.  It will also consider benefits such as higher living standards and more jobs.  Output gaps indicate whether an economy is underperforming be showing the difference between actual and potential output.  These ideas help to explain how growth affects people’s quality of life and the overall health of the economy.

  • 1 Causes of growth
  • 2 Benefits of growth
  • 3 Costs of growth
  • 4 Output gaps
2.3.6 Macroeconomic objectives and policies This topic will look at goals and tools of macroeconomic policy.  Macroeconomics studies the economy as a whole rather than individuals.  The unit will focus on how households, businesses and governments interact to determine the overall health and growth of the economy.

  • 1 Macroeconomic objectives
  • 2 Possible conflicts between macroeconomic objectives
  • 3 Macroeconomic supply-side policies
  • 4 Macroeconomic demand-side policies

IA2 Modules

3.3.1 Types and sizes of businesses Types of businesses will look at sole traders, partnerships and companies.  You will consider the different types of ownership along with their responsibilities.  When establishing the size of a business, we can look at the number of employees, sales or market share.  Finally, you will look at objectives such as making a profit or providing a service.

  • 1 Types of business
  • 2 Size of businesses
  • 3 Business objectives
3.3.2 Revenue, costs and profits This topic will look into how a business will earn and spend its money.  Revenue is generally the money taken into a business through selling a good or a service.  Costs are the expenses that go out in order to run the business such as materials, labour and utilities.  When costs are deducted from sales, a business is left with a profit provided the costs are not higher than the revenue.

  • 1 Revenue
  • 2 Costs
  • 3 Economies and diseconomies of scale
  • 4 Profits and losses
3.3.3 Market structures and contestability This topic will investigate different market structures and how factors affect them.  For example, efficiency tells us how well resources are used and concentration ratio measures how much of the market is controlled by the largest firms.

  • 1 Efficiency
  • 2 Concentration ratio
  • 3 Perfect competition
  • 4 Monopolistic competition
  • 5 Oligopoly
  • 6 Monopoly
  • 7 Monopsony
  • 8 Contestability
3.3.4 Labour markets This topic will look into the demand for labour which usually occurs when firms are more profitable.  It will investigate the supply of labour which can be influenced by wage rates, skills, working conditions and taxes.  Overall, the topic should allow you to analyse how wages are decided, why some workers earn more and why labour markets don’t always work efficiently.

  • 1 The demand for labour
  • 2 The supply of labour
  • 3 The determination of wage rates in competitive and non-competitive markets
  • 4 Market failure in the labour market
3.3.5 Government intervention Governments get involved to help correct market failure, improve fairness and promote efficiency.  Whilst governments introduce new policies to correct problems, this can also have a downside.  Intervention can sometimes lead to government failure or unintended consequences.

  • 1 Government intervention in product markets
  • 2 Government intervention in labour markets
4.3.1 Causes and effects of globalisation Economies around the world connect through trade, investment and movement of labour.  Globalisation explains how the world economy has become increasingly connected, why the process has happened and the trade-offs involved.

  • 1 Characteristics of globalisation
  • 2 Causes of globalisation
  • 3 Effects of globalisation
4.3.2 Trade and the global economy This topic looks into how countries benefit from trading, how global trade is structured and why governments sometimes support or restrict trade.

  • 1 Specialisation and comparative advantage
  • 2 Patterns and volume of world trade
  • 3 Terms of trade
  • 4 Trade liberalisation and trading blocs
  • 5 Restrictions on free trade
4.3.3 Balance of payments, exchange rates and international competitiveness The balance of payments records all financial transactions between a country and the rest of the world.  This topic will show you how exchange rates influence how expensive or cheap trade is and competitiveness determines long-term success in global markets.

  • 1 Balance of payments
  • 2 Exchange rates
  • 3 International competitiveness
4.3.4 Poverty and inequality This topic will study why some individuals and countries are poorer than others along with why income and wealth are unevenly distributed.  You will also consider the economic and social consequences of these issues.

  • 1 Poverty
  • 2 Inequality
4.3.5 The role of the state in the macroeconomy This topic will consider how governments manage the economy and the trade-offs between growth, inflation and debt.  It will also look into the policy decisions in economic stability.

  • 1 Public expenditure
  • 2 Taxation
  • 3 Public sector borrowing and public sector debt
  • 4 Macroeconomic policies
4.3.6 Growth and development in developing, emerging and developed economies This topic will consider why one country is at a different stage of development to another.  It will also look into the challenges poorer countries face and what can be done to improve living standards.

  • 1 Measures of economic development
  • 2 Constraints on growth and development
  • 3 Measures to promote growth and development

What can I do with an A Level in Economics?

International Advanced Level qualifications enable successful progression on to further study and the workplace. Through Edexcel’s world-class qualification development process they have consulted with higher education representatives to validate the appropriateness of these qualifications, including content, skills and assessment structure.

Previous Knowledge Required

There are no previous entry requirements for this course, however students are expected to have a reasonable standard of literacy. 

You have the freedom to start the course at any time and continue your studies at your own pace for a period of up to 24 months from initial registration with the full support of your Tutor.

Enrolment Fees

Our Enrolment fee for this course is noted at the top of this page where you can enrol directly onto the course.  This fee includes access to your course including tutor support for 2 years.

Our enrolment fee includes:

  • All study materials covering the full specification.
  • Full support where you can also message your tutor as many times as you need to.
  • Access to our online Library with a full range of eBooks.
  • Help completing university applications including UCAS and The Common Application.
  • Reference and predicted grade for University.
  • Assignment marking and feedback
  • Marked and graded practise examination papers
  • Eligibility for a Totum Card if you reside within the UK
  • Fast Track A Level if required and flexible learning from home 24/7.

The only other fee you will need to pay is for your exams which is due approximately six months prior and this will be paid directly to the exam centre.

Assessments

Students will be required to arrange and pay for their examinations at an Edexcel approved centre. We can provide an extensive list of these centres for you.

A Level Exams
There are four exams for the full A Level qualification. The length of each exam is as follows:

Paper 1 – 1 hour 45 min
Paper 2 – 1 hour 45 min
Paper 3 – 2 hours
Paper 4 – 2 hours

Paper 1 Paper 1 Paper 1 Exam Paper 4 A Level Qualification

AS Level Exams
There are two exams for the AS Level qualification. The length of each exam is as follows:

Paper 1 – 1 hour 45 min
Paper 2 – 1 hour 45 min

Paper 1 Paper 1 IAS Exams

For Edexcel International AS & A Level Economics, learners can:

take Papers 1 and 2 only (for the Edexcel International AS Level qualification) or

follow a staged assessment route by taking Papers 1 and 2 (for the Edexcel International AS Level qualification) in one series, then Papers 3 and 4 (for the Edexcel International A Level qualification) in a later series or

take Papers 1, 2, 3 and 4 in the same examination series, leading to the full Edexcel International A Level.

A Level Economics Course Outcome

On successful completion of all your exams for the A Level Economics Online Course, you will be awarded one of the following qualifications:

International A Level in Economics with Pearson Edexcel | International AS Level in Economics with Pearson Edexcel

Click here for more information about Pearson Edexcel and to be taken to their official website

Still unsure? Look through our FAQs

A Level Economics will need you to fully analyse situations for example, rising fuel costs which cause higher production costs for transport firms and a shift in the supply curve.  You will also need to evaluate arguments and apply them to real-life situations.

Most of the content is logical for example, if prices rise, demand will fall etc.  By practising exam questions, understanding key concepts and structuring answers appropriately you should be able to succeed with this subject.

You will not be required to purchase any books with this course.  We automatically include logins to our online e-Library which includes access to following eBook(s):

Pearson Edexcel International AS/A Level Economics Student Book 1 –  Tracey Joad, Alan Hewison (Pearson)

Pearson Edexcel International AS/A Level Economics Student Book 2 –  Tracey Joad, Alan Hewison (Pearson)

Not see the book you are looking for? Ask us and we will let you know if we have it!

A Level Mathematics – Taking Maths alongside Economics will make it easier when dealing with quantitative analysis and econometrics.  Economics will involve graphs, statistics and calculations which Maths will further support.  Pathways can lead onto an Economics degree, Finance, Accounting and Actuarial Science.

A Level Business Studies – Business helps explain how a firm operates in the real world and further supports units in Economics such as microeconomics and market structures.  Pathways will lead onto Business, Management, Marketing and Entrepreneurship.

The Pearson Edexcel Economics course can be taken worldwide except for the UK.  Content within the specification is adapted for international learners and the qualification is comparable to UK A Level standards.

There may be a few centres within the UK allowing you to take this specification but it is best to check with us beforehand. 

AS and A levels are standalone qualifications, however the Full A Level carries more UCAS points than the AS Level.  It also requires more study hours as follows:

  • AS Level = 180 hours
  • A Level = 360 hours
You will see the difference in the content above under ‘syllabus’ but you can also refer to our article on ‘what is as level’ for more information.

You will receive access and support for two years, however you can complete it much sooner if you want to.  Exams for this subject fall in January, June and October each year and therefore you are able to choose which exam sitting you want to apply for.  We have more information on exam timetables here.

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