GCSE Economics

Course codes: OSC1400 / OSC1401
Official AQA GCSE

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Official and recognised AQA GCSE Economics course.
Focus on real world issues.
Understand economic activity through the lens of consumers, producers and the government.
Option to add on your exams - we'll book these for you.
Study at your own pace, in your own environment.

SAVE £180 when you enrol onto 3 A Levels or GCSEs - limited time only. Discounts applied automatically.

Course Options	Please choose a course option to see prices	Course Material + Exams Course Material
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Study for your official AQA GCSE Economics course from home or alongside work. This is perfect if you want to go on and study A Level Economics.

Learn the foundations of economics including production, costs, revenue and profit and understand the national economic structure.

Course Duration

Up to 1 year.

Course Outcome

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

Entry Requirements

There are no specific entry requirements for this course.

Assessment

2 paper-based exams.

Unit 1

Economic Foundations

Economic activity
The factors of production
Making choices

Unit 2

Resource allocation

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

Unit 3

How prices are determined

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

Unit 4

Production, costs, revenue and profit

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

Unit 5

Competitive and concentrated markets

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

Unit 6

Market failure

Misallocation of resources
Externalities

Unit 7

Introduction to the national economy

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

Unit 8

Government objectives

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

Unit 9

How the government manages the economy

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

Unit 10

International trade and the global economy

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

Unit 11

The role of money and financial markets

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

Assessment

Throughout your course, you will have 8 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.

There are 2 written exam papers. A more detailed breakdown of the exam details are provided below.

Course Duration

You will have up to 1 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.

Study Method

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!

Course Outcome

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

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

Paper 1: How markets work

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

Paper 2: How the economy works

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.

Is this the same qualification as a GCSE from school or college?

Yes! This course is 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.

What skills are needed to enrol onto this course?

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

What is included in the cost of the course?

Dedicated personal tutor support
Dedicated student support
Accreditation
Assignment marking and feedback
FREE XO Student Discounts card
FREE CV critique service
FREE employability guide to help you impress future employers
Comprehensive study guide*
Open Study College Pen and Highlighter*
Student study planner*
Student notebook*
Document wallet*

* Not included with the online study option

Do I have to sit an exam?

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. If you add these on, they must be taken at either the Birmingham, Bolton, Doncaster, London or Macclesfield examination centre. Please ensure you are able to travel to these places.

Are there any additional costs?

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

What if I live outside the UK?

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

What happens if I lose my course pack?

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 Student Support Team can provide you with a new set of materials for a one-time additional fee.

What if I still have questions?

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 Student Adviser Team a call on 03300 563 100 and they’ll do their best to help.