Economics Tutor MISS LEE

New Specification Content

The new (2018) IAL in Economics has retained the four unit structure of the 2013 specification. There are some amendments to each unit and there is a greater emphasis on quantitative skills. 
 

There is a new section at the beginning of Unit 1 on the nature of Economics as well as the inclusion of some ‘financial’ topics (the role of financial markets, moral hazard and market bubbles). The topic on labour markets has been moved to Unit 3.

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Unit 2 includes measures of human development which was previously in Unit 4 as well as a reference to happiness and well-being. Candidates will now be required to calculate the multiplier. The role of central banks has been added to the section on macro-economic policies.

 

Unit 3 includes a new section on labour markets (drawn from the old unit 1). Game theory and natural monopoly are also included. Transnational companies have been moved to Unit 4.

 

Unit 4 sees the inclusion of automatic stabilisers and greater clarity on the theories required in the topic on development economics. Transnational companies have been included.

 

There is also a greater emphasis on the application of appropriate quantitative skills in a range of economic contexts. The assessment of these skills will include at least level 2 mathematical skills as a minimum of 15% of the overall AS and 20% of the overall A Level marks. Appendix 7 of the specification has more details.

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Assessment

There is a new section at the beginning of Unit 1 on the nature of Economics as well as the inclusion of some ‘financial’ topics (the role of financial markets, moral hazard and market bubbles). The topic on labour markets has been moved to Unit 3.

Unit 2 includes measures of human development which was previously in Unit 4 as well as a reference to happiness and well-being. Candidates will now be required to calculate the multiplier. The role of central banks has been added to the section on macro-economic policies.

Unit 3 includes a new section on labour markets (drawn from the old unit 1). Game theory and natural monopoly are also included. Transnational companies have been moved to Unit 4.

Unit 4 sees the inclusion of automatic stabilisers and greater clarity on the theories required in the topic on development economics. Transnational companies have been included.

There is also a greater emphasis on the application of appropriate quantitative skills in a range of economic contexts. The assessment of these skills will include at least level 2 mathematical skills as a minimum of 15% of the overall AS and 20% of the overall A Level marks.

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