Skip to main content

GCSE Economics

OSC1400 / OSC1401

Official and recognised AQA GCSE Economics course.

Course duration

Up to one year.

Course outcome

On exam completion, you will receive your AQA GCSE Economics qualification.

Entry requirements

There are no specific entry requirements for this course.


Two paper-based exams.


Course Options

Study Options

or £13.61 /month*
Course code: OSC1400

Up to £125 off selected courses! Hurry, sale ends in

*Pay monthly option available via Snap Finance on payment page in checkout


Course overview

  • Focus on real world issues.
  • Understand economic activity through the lens of consumers, producers and the government.
  • Option to add your exams to your enrolment, meaning we'll book them for you.
  • Study at your own pace, in your own environment.

The General Certificate of Secondary Education (GCSE) is the UK’s most widely recognised certification for the end of secondary school education. It is often the entry-level requirement to further study, such as A Levels and apprenticeships.

With our online GCSE Economics qualification, you will learn the foundations of economics including production, costs, revenue, and profit, and understand the national economic structure.

GCSEs are recognised qualifications that are often a gateway to further learning and our GCSE Economics course is perfect if you want to go on and study A Level Economics in the future.

If you choose to enrol on the package, we will pay for and book your exams for you, on your behalf.

Course content

  • Economic activity
  • The factors of production
  • Making choices

  • Markets and allocation of resources
  • Economic sectors
  • Specialisation, division of labour, and exchange

  • Demand for goods and services
  • Supply for goods and services
  • Equilibrium price
  • Intermarket relationships
  • Price elasticity of demand
  • Price elasticity of supply

  • The importance of cost, revenue and profit for producers
  • Production and productivity
  • Economies of scale

  • The importance of market structures on producers and consumers
  • Competitive markets
  • Non-competitive markets
  • The labour market

  • Misallocation of resources
  • Externalities

  • Interest rates, saving, borrowing, spending and investment
  • Government income and expenditure

  • Economic objectives of the government
  • Economic growth
  • Employment and unemployment
  • Inflation and price stability
  • Balance of payments
  • Distribution of income

  • Fiscal policy
  • Monetary policy
  • Supply-side policies
  • Policies to correct positive and negative externalities

  • Why countries trade and the importance of international trade to the UK
  • Exchange rates
  • Free-trade agreements including the European Union
  • Globalisation: benefits and drawbacks

  • The role of money
  • The role and importance of the financial sector for the economy

Exam details

AQA Specification code: 8136

Topics assessed:

  • Economic foundations
  • Resource allocation
  • How prices are determined
  • Production, costs, revenue and profit
  • Competitive and concentrated markets
  • Market failure

Assessment type

Written exam (1 hour 45 minutes)

80 marks

50% of GCSE

Question types

  • Section A: 10 multiple choice questions followed by a range of calculation, short and extended response questions.
  • Section B: 5 questions involving a mix of calculations, short and extended responses

Topics assessed:

  • Introduction to the national economy
  • Government objectives
  • How the government manages the economy
  • International trade and the global economy
  • The role of money and financial markets

Assessment type:

Written exam: 1 hour 45 minutes

80 marks

50% of GCSE

Question types

  • Section A: 10 multiple choice questions followed by a range of calculation, short and extended response questions.
  • Section B: 5 questions involving a mix of calculations, short and extended responses.

Extra information

Throughout your GCSE Economics course, you will have eight tutor-marked assignments to test your progress and knowledge of the units. If you want to receive the full GCSE qualification you will need to sit the official exams.

While you will be formally assessed by completing your exams, you will also need to complete and submit tutor-marked assignments to allow your tutor to monitor your progress.

There are two written exam papers. A more detailed breakdown of the exam details are provided below.

If you add the exams to your enrolment, the examination centres available for you to complete your exams at are as follows:

  • Birmingham
  • Bristol
  • Coventry
  • Doncaster
  • Bolton
  • Wimbledon
  • Taunton
  • St Neots, Cambridgeshire
  • High Wycombe
  • Romford
  • Belfast

If you choose to add your exams to your enrolment, we will book these for you.

You will have up to one year to for the full GCSE Economics course from the date you receive your materials. You will be able to study at your own pace and in your own time without the pressure of tight deadlines.

This course enables you to study for your Economics GCSE by distance learning at home or at work. Your course materials will be sent by post or online, so receiving your materials is easy and hassle-free. Full tutor support will be available via email, so help is only a click away!

Once you have studied the course and successfully passed the examinations, you will be awarded your AQA GCSE Economics.

You will achieve a grade between 1 and 9 depending on your performance in your exams.


Yes! Our online GCSEs are the same as a GCSE you would study at a traditional school or college. The only difference is that this course is designed to be studied from home and you receive full tutor support via email.

You do not need any previous knowledge to enrol onto this GCSE Economics course.

When you enrol with Open Study College you will receive:

* Not included with the online study option

You will need to take the official GCSE examinations in order to fully complete this course. You have the option to add these on, we will book and pay for them when you are ready.

Please note: if you choose to add on your exams you will need to sit them at either the Birmingham, Coventry, Doncaster, Bolton, Wimbledon, Taunton, or St Neots (Cambridgeshire) examination centre.

If you don’t add on the exams, you will need to book and pay for these separately.

You are still able to study this GCSE course if you are based abroad, but must take the examinations within the UK, as this is the only guaranteed way to access exam centres.

It's not a problem. We offer a course replacement service, so if you get into trouble and your course pack is lost or damaged, our Learner Services Team can provide you with a new set of materials for a one-time additional fee.

That's not a problem. We want to make sure you're 100% confident about enrolling on the course and starting your study. So, just give our team of education specialists a call on 03300 563 100 and they'll do their best to help.

Related courses