Qualifications gained
Qualification: Economics and Business Studies AS Level)

What will be studied?
A New course to meet the needs of Modern Industry

After speaking to many teachers, students and businesses Edexcel has decided to redesign this course to meet the needs of modern day industry.The core units are centred on Entrepreneurial Skills at Advanced Subsidiary (AS) and a Global Perspective at Advanced level (A2). The course offers:
A fresh approach to engage and inspire students by sharing how an understanding of many contemporary issues requires a grasp of business and economics
A focus on the enterprise at AS and international issues at A2
A responsive syllabus that considers the changing world of business and economics.

Unit 1 Developing New Business Ideas covers the thinking and activities that entrepreneurs and existing businesses may undertake when developing and researching new business ideas.

Unit 2b Business Economics considers the market that the business may be operating in; how competition in the market and macroeconomic change is likely to affect it and how businesses can seek to minimise uncertainty through their actions.

Unit 3 International Business introduces candidates to what businesses may consider if they were to trade internationally, such as which countries to sell their product in and why some companies sell their products worldwide.

Unit 4b The Wider Economic Environment and Business considers why certain markets fail; how government decision making affects the economy and markets that companies operate in, and the income and welfare of private individuals. It should enable you to assess why government economic policy can succeed or fail.
 

What do I need to have to study the course?
Don’t be put off if you haven’t studied anything like this before. You should be interested in finding out about how to succeed in business and how businesses are affected by the world around them. Whilst we don’t have any requirement entry we would expect you to have a good GCSE grade in Maths and English. Often an interest in either Geography or History sits well with this course as Economics and Business follows similar themes or requires similar thinking skills. An AS level in this subject is essential to progress to A2

What assessments are there? 

* Note: "data" represents passages of text, that may include graphs, table(s) of information, diagrams etc.

Where will this take me?

It provides a solid foundation for studies at a higher level in the following subject areas: business management, business administration, accountancy and finance, human resource management, marketing, retail management, tourism management or international business. It may also lead on to a career in the commercial world e.g. in banking, sales, product management or general management. Business and management skills are also considered desirable skills to have in public sector organisations or charities.

This qualification could also enable students to progress on to a straight economics degree with a focus on theory, or a degree in applied economics such as environmental economics, labour economics, public sector economics or monetary economics. Alternatively students may like to study a business economics or mathematical economics degree or study economics with other subjects e.g. politics, philosophy or history as a combined degree. Some universities require A level mathematics as well, others only ask for a good grade at GCSE. Post university employment rates of economists are among the highest for graduates. They are likely to find employment in finance, banking, insurance, accountancy, management and consultancy. Some become professional economists.

Economics is an interesting and challenging subject that engages students throughout their degrees and offers excellent prospects after graduation.  The subject is well-respected by employers:

“Economics graduates’ average earnings 6 months from graduation is £17,900, compared with average graduate earnings of £16,400.  Only engineers and doctors earn more at that stage.”

Times Higher Educational Supplement 27.05.05

Anything else I should know?

This course is suitable for students who:­

•Prefer exams to coursework.
•Are prepared to take an interest in current economic issues, business news and international business.
•Want to learn how to analyse information effectively and be able to suggest solutions to real problems affecting businesses, the economy and individuals.
•Enjoy analysing and presenting the merits of alternative courses of action.
•Want to gain a background in economics and business to enable you to enter a future management position in any organisation, be it business related or not.
 

Overall It gives you a good understanding of how the real world works and challenges you to make up your own mind on topical issues such as “top-up” fees and the EMA.