GCSE Economics

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

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