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1 Get help and support AS AND. Visit our website for information, guidance, support and resources at You can talk directly to the Economics subject team A-LEVEL. E: T: 01483 477 863. ECONOMICS. AS (7135). A-level (7136). Specifications For teaching from September 2015 onwards For AS exams in May/June 2016 onwards For A-level exams in May/June 2017 onwards Version 23 September 2014. Copyright 2015 AQA and its licensors. All rights reserved. AQA retains the copyright on all its publications, including the specifications. However, schools and colleges registered with AQA are permitted to copy material from these specifications for their own internal use. G00401. AQA Education (AQA) is a registered charity (number 1073334) and a company limited by guarantee registered in England and Wales (company number 3644723).

2 Our registered address is AQA, Devas Street, Manchester M15 6EX. AS Economics (7135) and A-level Economics (7136). AS exams May/June 2016 onwards. A-level exams May/June 2017 onwards. Version Contents 1 Introduction 5. Why choose AQA for AS and A-level Economics 5. support and resources to help you teach 6. 2 Specification at a glance 8. AS 8. A-level 9. 3 Subject Content AS 11. The operation of markets and market failure 11. The national economy in a global context 21. 4 Subject Content A-level 28. Individuals, firms, markets and market failure 28. The national and international economy 45. 5 Scheme of assessment 57. AS 57. A-level 57. Aims 58. Assessment objectives 58. Assessment weightings 59. 6 General administration 60. Entries and codes 60.

3 Overlaps with other qualifications 60. Awarding grades and reporting results 60. Re-sits and shelf life 61. Previous learning and prerequisites 61. Access to assessment: diversity and inclusion 61. Working with AQA for the first time 62. Private candidates 62. 7 Annex: Quantitative skills in Economics 63. AS 63. A-level 63. Visit for the most up-to-date specifications, resources, support and administration 3. Are you using the latest version of these specifications? You will always find the most up-to-date version of these specifications on our website at We will write to you if there are significant changes to these specifications. 4 Visit for the most up-to-date specifications, resources, support and administration AS Economics (7135) and A-level Economics (7136).

4 AS exams May/June 2016 onwards. A-level exams May/June 2017 onwards. Version 1 Introduction Why choose AQA for AS and A-level Economics Relevant content designed by experts Our approach to Economics is to apply economic theory to support analysis of current economic problems and issues, and encourage students to appreciate the interrelationships between microeconomics and macroeconomics. We have worked closely with teachers and universities to develop engaging and up-to-date content so that students can relate what they are learning to the world around them locally, nationally and globally. Real life skills Students develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. They will also build upon their quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important.

5 Assessment success Our question papers use a variety of assessment styles including real-life case studies and data exercises to better prepare students for further study and employment. Working with our assessment specialists, our question papers have been developed so that they provide clear opportunities for students to apply their knowledge and skills, enabling them to achieve their potential. Flexibility on teaching Both our AS and A-level provide strong stand-alone qualifications that can be taught together or independently of one another, allowing you to choose the approach that is best suited to your needs and those of your students. Comprehensive support To assist you in delivering our specifications, we offer a comprehensive range of support and resources, including direct contact with our Economics subject team, resources to help you plan and deliver our courses and teacher continuing professional development (CPD) courses.

6 At AQA, we help your students get the results they deserve, from the exam board you can trust. Learn more about our Economics qualifications at Visit for the most up-to-date specifications, resources, support and administration 5. support and resources to help you teach We know that support and resources are vital for your teaching and that you have limited time to find or develop good quality materials. So we've worked with experienced teachers to provide you with a range of resources that will help you confidently plan, teach and prepare for exams. Teaching resources We have too many Economics resources to list here so visit to see them all. They include: flexible sample schemes of work to help you plan for course delivery in your own way individual lesson plans on specific topic areas to assist you in providing continuity and progression in teaching student textbooks and e-learning materials that have been scrutinised by AQA.

7 Training courses to help you deliver AQA Economics qualifications subject expertise courses for all teachers, from newly qualified teachers who are just getting started to experienced teachers looking for fresh inspiration. Preparing for exams Visit for everything you need to prepare for our exams, including: past papers, mark schemes and examiners' reports specimen papers and mark schemes for new courses exemplar student answers with examiner commentaries. Analyse your students' results with Enhanced Results Analysis (ERA). Find out which questions were the most challenging, how the results compare to previous years and where your students need to improve. ERA, our free online results analysis tool, will help you see where to focus your teaching.

8 Register at For information about results, including maintaining standards over time, grade boundaries and our post-results services, visit Keep your skills up to date with professional development Wherever you are in your career, there's always something new to learn. As well as subject-specific training, we offer a range of courses to help boost your skills: improve your teaching skills in areas including differentiation, teaching literacy and meeting Ofsted requirements help you prepare for a new role with our leadership and management courses. You can attend a course at venues around the country, in your school or online whatever suits your needs and availability. Find out more at 6 Visit for the most up-to-date specifications, resources, support and administration AS Economics (7135) and A-level Economics (7136).

9 AS exams May/June 2016 onwards. A-level exams May/June 2017 onwards. Version Get help and support Visit our website for information, guidance, support and resources at You can talk directly to the Economics subject team E: T: 01483 477 863. Visit for the most up-to-date specifications, resources, support and administration 7. 2 Specification at a glance AS. Subject content The operation of markets and market failure 1 Economic methodology and the economic problem 2 Price determination in a competitive market 3 Production, costs and revenue 4 Competitive and concentrated markets 5 The market mechanism, market failure and government intervention in markets The national economy in a global context 6 The measurement of macroeconomic performance 7 How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts 8 Economic performance 9 Macroeconomic policy Assessments Paper 1: The operation of markets and + Paper 2: The national economy in a market failure global context What's assessed What's assessed Content 1 5 above Content 6 9 above Assessed Assessed written exam.

10 1 hour 30 minutes written exam: 1 hour 30 minutes 70 marks 70 marks 50% of AS 50% of AS. Questions Questions Section A: 20 multiple choice questions Section A: 20 multiple choice questions worth 20 marks worth 20 marks Section B: data response questions Section B: data response questions requiring written answers, choice of one requiring written answers, choice of one from two contexts worth 50 marks from two contexts worth 50 marks All the question papers are compulsory 8 Visit for the most up-to-date specifications, resources, support and administration AS Economics (7135) and A-level Economics (7136). AS exams May/June 2016 onwards. A-level exams May/June 2017 onwards. Version A-level Subject content Individuals, firms, markets and market failure 1 Economic methodology and the economic problem 2 Individual economic decision making 3 Price determination in a competitive market 4 Production, costs and revenue 5 Perfect competition, imperfectly competitive markets and monopoly 6 The labour market 7 The distribution of income and wealth: poverty and inequality 8 The market mechanism, market failure and government intervention in markets The national and international economy 9 The measurement of macroeconomic performance 10 How the macroeconomy works.