How to pass A-level Economics

2nd November 2023 by Anita Naik

More than 39,000 students received results for the qualification this summer, according to the Joint Council for Qualifications, a 7.3 per cent increase on last year, making it one of the UK's top ten most popular A-levels.

With Economics graduates having some of the best employment prospects, earning higher salaries and finding a wide range of career opportunities, here's how to pass with flying colours.

Why choose Economics A-level?

There are many reasons to take A-level Economics, including the fact that it can open doors to a wide range of careers in business, finance, and government. It also helps you to develop transferable skills, such as how to think critically, analyse data, and solve problems.

It's also a gateway to an Economics degree, which offers some of the highest financial returns of all subjects in the UK. According to a study from the Institute for Fiscal Studies, lifetime returns for women are more than £250k for economics, law or medicine degrees, and for men, more than half a million pounds.

How challenging is Economics A-Level?

If you're genuinely interested, Economics A-Level can be broken down easily. Students will typically study a mix of microeconomics and macroeconomics topics. However, the topics covered will vary depending on the exam board and the school's curriculum.

One thing to remember is that you need excellent writing skills for success in this A-level, as essays require students to communicate and explore their ideas clearly and concisely. You also need to be able to write essays that explain economic concepts, analyse data, and draw evaluative conclusions.

What will help me do well in this subject?

To do well, you need to have a good understanding of key economic concepts to succeed. So, ensure you understand the different types of economic systems, the different market structures, and various monetary policies.

Alongside this, it's essential to go beyond your textbooks, as one of the most critical skills in this subject is applying economic theories to real-world examples.

Doing this means being able to think critically about economic issues and come up with solutions using financial data to support your arguments. This also means being able to collect and interpret data effectively.

What can help here is to ensure you work on a range of past papers and look at both the marking system for essays and structure essays to ensure you get maximum marks.

Every single essay in economics has a structure you need to adhere to. For example, for a 25-mark essay, you need an introduction with a definition and possibly a diagram, 3-point paragraphs with evaluative points and a conclusion with an evaluative point. To fine-tune this, do as many practice essays as possible and ask your teacher or tutor for detailed feedback.

What resources should I use?

There are a range of economic resources that can help you go the extra distance as a student. The Financial Times has been reporting on global business and economic news for over 100 years. It's known for its in-depth analysis and commentary on various topics, including finance, markets, technology, politics, and society. Academics and students of business and economics widely use it.

The Economist is also a valuable resource as it provides comprehensive coverage of the latest economic news and developments. It explores complex economic concepts in a clear and accessible way. The Economist's articles also present different perspectives on economic issues and discuss various economic schools of thought, such as Keynesianism, monetarism, and supply-side economics.

Also worth visiting are the National Institute of Economics and Social Research. This website discusses the research behind the economic and social forces that affect people's lives. Discover resources ranging from research publications to blogs, to media and many more.

Adam Smith Institute has a blog that comes from one of the world's leading think tanks. The blog "promotes free market ideas through research, publishing, media outreach and education".

Work with an Economics Tutor

An economics A-level tutor can be a valuable asset to any student. By providing personalised support and guidance, a tutor can help students understand concepts, apply concepts to real-world problems, help you create well-structured answers and fine-tune your analysis and viewpoint on concepts, theory and data.

Tutors and teachers will also be able to advise you on how many points you need to write for each question type. It's also worth looking at the examiner's report for Edexcel. You can find the examiner's reports here. The Edexcel examiner's reports are perfect for showing exemplary answers with student commentary. Also, for AQA, the examiner's reports are here.