Understanding how individuals, businesses, and governments make choices about money, resources, and the economy.

A Level

Back to all subjects

Economics

Quick Summary

Entirely exam-based – All assessment through written exams at the end of Year 13

Essays & data – About 60% essay writing, 30% data response, 10% calculations and multiple choice

Interest current affairs – Economic theory makes much more sense when applied to real-world issues

What's it actually like?

IN A NUTSHELL

A-Level Economics is exam-based, with no coursework or practicals. You'll study microeconomics (how individuals and firms make decisions), macroeconomics (how whole economies function), and applied economics (using theories to analyse real-world issues).

Topics include supply and demand, market failure, unemployment, inflation, international trade, development, and economic policy. You'll learn economic theories then apply them to current issues like inequality, Brexit, climate policy, or global trade wars.

Exams involve essay questions, data analysis, multiple choice, and calculation questions. You'll need to evaluate economic policies and present arguments using economic theory.

Economics suits people who want to understand the world through an analytical, logical framework.

For top universities, you'll likely need Maths A-Level: If you're thinking about Economics at Oxford, Cambridge, LSE, Warwick, etc., A-Level Maths is usually required or strongly recommended.

About the course

Is this for you?

Markets and how they work

A-Level Economics begins with learning how markets work. You'll study supply and demand, price, costs, profit, and how businesses and consumers make decisions. You'll also learn about market failure and when governments might need to intervene.

The wider economy

You'll then move on to the bigger picture – topics like inflation, unemployment, economic growth, interest rates, and government policies like taxation and spending. You'll learn how governments try to manage the economy and how successful these policies are.

Businesses and global trade

You'll also study different types of markets and businesses. This includes competition, monopolies, how firms grow, why some markets fail, and how global trade and globalisation affect countries.

Assessment

Economics is mainly exam-based and involves lots of writing, analysis, and evaluation. You'll learn to draw and explain diagrams, interpret data, and write essays that argue different points of view using real-world examples.
Economics is a good choice if you're:

Curious about how the economy works and why

Enjoy debating policies and their effects

Like applying theoretical models to real-world situations

Are interested in current affairs, politics, and business

Can handle abstract thinking and model-building

Don't mind mathematics (there's some, but it's not overwhelming)

Enjoy constructing arguments using evidence

Want to understand issues like poverty, inequality, and growth
Analytical thinking - You'll learn to break down complex economic problems and analyse them systematically.

Evaluation skills - Economics is all about weighing up different options, trade-offs, and consequences.

Essay writing - You'll construct evidence-based arguments on economic issues, developing clear communication skills.

Data interpretation - Working with economic statistics, graphs, and data strengthens quantitative literacy.

Understand trade-offs - Economics teaches you that almost every decision involves costs and benefits.

Apply theory - You'll learn to apply abstract models to concrete real-world scenarios.
You need an interest in current affairs: Economic theory makes much more sense when applied to real-world issues. If you don't follow the news, you'll find it harder to engage.

Maths is involved, but manageable: You'll do calculations involving percentages, elasticity, and costs. A-Level Maths isn't required (though it helps), but you need to be comfortable with basic maths.

It's different from Business Studies. Economics is more theoretical and analytical; Business Studies is more practical and vocational. Don't assume they're the same.

There's no "right answer." Economic policies involve trade-offs. You need to be comfortable evaluating different perspectives rather than finding one correct solution.

Diagrams are essential: Supply and demand curves, aggregate demand/supply, cost curves – you'll draw lots of diagrams. They're tools for analysis, not just pictures.
Economics + Maths + Further Maths = For top economics degrees
Economics + Maths + History = Excellent for social sciences
Economics + Politics + History = For understanding policy and society
Economics + Maths + Physics = Keeping STEM and social science options open
Economics rewards logical thinking and application. Here's how to succeed:

Master the diagrams – Learn to draw supply and demand, AD/AS, cost curves perfectly. Practice them until they're automatic. Label everything clearly. Diagrams are crucial for high marks.

Read economics news – Follow The Economist, Financial Times, or quality newspapers. Link real-world examples to theory in your essays. Current examples show genuine understanding.

Always evaluate – Don't just explain one side. Economics is about trade-offs. Always consider "on the other hand" and "it depends on." Evaluation separates good students from great ones.

Practice applying theory – Don't just memorise definitions. Practice applying concepts to different scenarios. Past papers are essential for this.
Economics graduates work in:

Finance

Banking,

Consultancy

Civil service

Policy analysis

Think tanks

Journalism

International organisations (IMF, World Bank)

Business

and many other fields.
Economics is highly valued by universities. It shows strong analytical thinking and understanding of how the world works.

Economics A-Level is typically essential for degrees in:

Economics

Finance and Accounting

Business and Management

Actuarial Science

Top tip: Economics works brilliantly with Maths - many top universities prefer or require both for Economics degrees.

It's also highly recommended for:

Politics and International Relations

Law

Philosophy, Politics and Economics (PPE)

Social Sciences

and many more.
Ask yourself:

Am I interested in how economies, markets, and policies work?

Do I enjoy debating and evaluating different viewpoints?

Am I comfortable with some mathematical content?

Do I follow current affairs and find economic issues interesting?

Can I handle abstract models and theories?

Do I want to understand issues like inequality, unemployment, and development?

Broad application: Economic thinking – understanding incentives, trade-offs, and decision-making – is valuable across almost any career.

Explore other A Levels

See all A Levels

Computer Science

Learning how computers work and how to design, write, and analyse programs and algorithms to solve problems.

Drama & Theatre

Drama A Level students performing in a play.

Studying plays through both performance and analysis, combining acting, staging, and written evaluation of theatre.

Extended Project Qualification (EPQ)

Extended Project Qualification EPC Student writing a report

A standalone independent research project. Choose any topic you love, develop university skills, and earn extra UCAS points without exams.

Further Mathematics

A Level Further Maths student writing on the board

Studying advanced and challenging mathematics that goes beyond A-Level Maths, focusing on deep problem-solving and abstract thinking.

Film Studies

Considering A-Level Film Studies? This guide will help you figure out if studying cinema as an art form is right for you.

Italian

Developing the ability to understand, speak, read, and write Italian fluently while exploring Italian culture, society, and literature.

Religious Studies

Develops your understanding of religion, philosophy, and ethics while building strong skills in analysis, evaluation, and written argument.

Design & Technology

Combines designing products with making them to a high standard.

Spanish

Developing the ability to understand, speak, read, and write Spanish fluently while exploring Spanish-speaking culture and society.

Modern Foreign Language

Develops your ability to speak, understand, read, and write a foreign language fluently while exploring the culture, society, and history of countries where it is spoken.