Apply
Contact
Chat

Overview

The Kings Advanced Level Foundation is based on A-level syllabuses, taught by A-level teachers, assessed against A-levels and moderated by an independent Advisory Board of external examiners. As such, it is one of the most highly academic and successful pathways to leading UK universities.

Economics is an elective module within the Foundation, and is ideal for students who are interested in studying the subject at university in the UK.

Key Facts

Start Dates:

  • 3 January 2023
  • 3 April 2023 (Extended programme only)
  • 26 June 2023 (Extended programme only)
  • 11 September 2023

Colleges:

  • Bournemouth
  • Brighton
  • London
  • Oxford

Entry level:

  • Academic: Completed 11-12 years of schooling
  • English: IELTS 5.5 or equivalent

Minimum age:

  • 16.5

Length:

  • 1 Academic Year (3 terms)
  • Extended programme: 1-2 Academic Years (4-7 terms)

Lessons:

  • Average 21 hours per week (plus homework and private study)

Learning outcomes

  • Factual knowledge of the principles of economics at micro-, macro- and international levels. 
  • An understanding of the tools of economic analysis and the problems to which these tools may be applied.
  • An understanding of economics as a discipline in its own right and an awareness of its links to related subjects. 
  • Familiarity with common sources of economics data and with using the principal reference sources. 

Course content and structure

The Advanced Level Foundation programme is highly flexible, and able to adapt to the needs and academic aspirations of each student. It does this through a combination of core modules and a series of elective modules which can be combined in different ways to create main subject streams.

Economics is one of the many elective modules offered, and an overview of the syllabus content is shown below.

Term 1

  • Introduction to microeconomics 
  • The economic problem 
  • Opportunity cost and production possibility frontiers
  • Positive and normative statements
  • Factors of production 
  • Economic systems 
  • Economic agents and their objectives 
  • The market 
  • Demand and supply curves 
  • Consumer and producer surplus 
  • Price determination and equilibrium price 
  • Price, income and cross elasticities of demand 
  • Price elasticity of supply 
  • Economic, productive and allocative efficiency 
  • Internal and external economies of scale 
  • Specialisation, the division of labour and exchange 
  • Total, fixed, variable, average and marginal costs 
  • Market failure and types of market failure: externalities, merit and demerit goods, public goods, information failure 
  • Government intervention to correct market failure 

Term 2

  • Introduction to macroeconomics 
  • Economic growth – short- and long-run, costs and benefits
  • Economic cycles 
  • Real and nominal GDP, and GDP per capita 
  • Unemployment: measurements, causes and consequences 
  • Inflation, deflation, disinflation and hyperinflation: measurements, causes and consequences 
  • Recent trends in key UK macroeconomic performance indicators compared to other countries 
  • The circular flow of income model 
  • The multiplier 
  • Aggregate demand: its components, its relationship with the price level, th determinants of the components of AD, causes of shifts in the AD curve 
  • Aggregate supply: causes of shifts in the short run and long run 
  • The AD/AS model and diagrams 
  • Macroeconomic equilibrium: how changes in AD and AS affect macroeconomic performance 
  • Fiscal policy 
  • The government budget, and budget surpluses and deficits 
  • Progressive, proportional, regressive, direct and indirect taxes 
  • Budget deficits and the national debt 
  • Discretionary fiscal policy and its effectiveness 
  • Monetary policy: instruments and measures 
  • Interest rates, money supply, quantitative easing, exchange rate 
  • How monetary policy instruments and measures affect macroeconomic performance 
  • The role of central banks 
  • The effectiveness of monetary policy at achieving macroeconomic objectives 
  • Supply-side policies 
  • Types of supply-side policies: education and training, tax and welfare reforms, more flexible labour markets, privatisation, deregulation, trade union reform, infrastructure investment 
  • The effectiveness of supply-side measures in achieving macroeconomic policy objectives 
  • Policy conflicts and trade-offs 
  • The balance of payments and its components 
  • The current account on the balance of payments, and its components 
  • Causes and consequences of imbalances on the current account of the balance of payments 

Term 3

  • Trade and integration 
  • Absolute and comparative advantage 
  • Specialisation and gains from trade 
  • Terms of trade 
  • The pattern of global trade 
  • Exchange rate systems 
  • Purchasing power parity 
  • Exchange rate fluctuations 
  • Stages of economic integration (free trade areas, customs unions, single markets, economic unions, monetary unions) 
  • Short-run and long-run impact of economic integration 
  • Development and sustainability 
  • Measuring development 
  • Growth and development 
  • HDI 
  • Policies to promote economic development – the role of the market and the state 
  • Constraints on development 
  • The meaning and measurement of sustainability 
  • National and regional policies and international agreements to promote sustainability 
  • The economics of globalisation
  • The characteristics and consequences of globalisation 
  • International financial flows 
  • The nature and impact of MNCs and FDI 
  • The role and impact of the WTO, IMF and World Bank 
  • International trade negotiations and trade disputes 

Sample subject combinations with Economics

  • Economics, Business studies, Mathematics
  • Economics, Government and Politics, Law
  • Economics, Geography, Mathematics

Sample enrichment activities

  • BMW factory visit 
  • Business Enterprise 
  • Bank of England visit
  • Coca Cola factory tour

Recommended reading

Below is a list of text books normally used on this course, as well as books which may help you prepare for your studies prior to arrival. In many cases the textbooks will be supplied by the school, and you may borrow them for the duration of your time at school. However, if you already know what three subjects you want to choose you may prefer to purchase one before you arrive.

  • AQA A- level Economics Book 1, Authors-Ray Powell and James Powell 
  • AQA  A -level Economics Book 2, Authors- Ray Powell and James Powell 

Sample academic calendar (2023-2024)

Year 1

September

  • 11th: term starts
  • Student induction

October

  • 23 – 27th: half term
  • Progress tests

November

  • University fairs and talks

December

  • 15th: term ends
  • End of term exams

January

  • 8th: term starts

February

  • 15th – 16th: half term
  • Progress tests
  • University fairs

March

  • End of term exams
  • 22nd: term ends

April

  • 8th: term starts

May

  • Progress tests

June

  • Exams
  • 14th: term ends

Progression

Recent alumni

Below are some of the recent students who took the Economics module, including information about the university they progressed to and the degree course they are doing.

Min Fu

  • Economics/Geography/Maths/CSS/Data
  • Lancaster University
  • Business Studies

Aleskandar Kesic

  • Economics/Geography/Maths/CSS/Data
  • University of Warwick
  • Economics

Alina Kurmanbayeva

  • Economics/Business/Government & Law/CSS/Data
  • SOAS
  • Politics and Economics

Ju Yeon Kim

  • Economics/Business/Maths/CSS/Data
  • University of Leeds
  • Accounting and Finance

Sungmin Lim

  • Economics/Geography/Maths/CSS/Data
  • Loughborough University
  • International Business 

Asset Omirzhanov

  • Economics/Geography/Government and Politics/CSS/Data
  • University of St. Andrews
  • International Relations 

Thank you for your enquiry.
We'll be in touch soon.
The Kings Admissions Team