WJEC A-Level Economics: complete guide to the units, models and exams

WJEC A-Level Economics (Wales) is a two-year course with an AS year and an A2 year, assessed entirely by four written unit papers, with no coursework. This page is the index: below is a map of the four units, the assessment structure, and how to study each one.

The four WJEC Economics units

The specification organises the content into four units. The AS units (Introduction to Economic Principles and Economics in Action) are the first year; the A2 units (Exploring Economic Behaviour and Evaluating Economic Models and Policies) are the second year.

Introduction to Economic Principles (AS Unit 1)

The microeconomic foundation: scarcity, choice and the production possibility frontier; demand, supply, elasticity and surplus; labour markets and wage determination; the price mechanism and rational behaviour; market failure; and government intervention and government failure.

Economics in Action (AS Unit 2)

The macroeconomic and international foundation: the circular flow and the multiplier; aggregate demand and aggregate supply and their interaction; the macroeconomic objectives and conflicts; fiscal, monetary and supply-side policy; exchange rates; and free trade and protectionism.

Exploring Economic Behaviour (A2 Unit 3)

The theory of the firm: costs, revenues and profit maximisation; the growth of firms and economies of scale; the types of efficiency; the four market structures; price discrimination, collusion, contestability and game theory; and government intervention in markets.

Evaluating Economic Models and Policies (A2 Unit 4)

Synoptic, evaluative macroeconomics, trade and development: aggregate supply and the Phillips Curve; growth, unemployment, inflation and the balance of payments; fiscal and monetary policy and financial stability; economic development; and global economics.

Exam structure

WJEC A-Level Economics is assessed by four written unit papers and no coursework. Quantitative skills are tested throughout, accounting for at least 20 per cent of the assessment.

• Introduction to Economic Principles (AS Unit 1) - written paper of 1 hour 15 minutes, multiple-choice and structured questions, 55 marks, 15 per cent of the A Level.
• Economics in Action (AS Unit 2) - written paper of 2 hours, compulsory data-response questions, 80 marks, 25 per cent.
• Exploring Economic Behaviour (A2 Unit 3) - written paper of 2 hours, structured questions and one data response, 80 marks, 30 per cent.
• Evaluating Economic Models and Policies (A2 Unit 4) - written paper of 2 hours 30 minutes, three essays (one each from Microeconomics, Macroeconomics, and Trade and Development), 90 marks, 30 per cent.

There is no non-examined assessment, so every mark comes from the written papers.

How to study WJEC Economics

Economics rewards precise concepts, accurate diagrams, confident quantitative skills, balanced evaluation and located examples.

1. Work from the specification statements. Each statement is a checklist; questions are written from them.
2. Master the diagrams and models. Demand and supply, externalities, the market-structure diagrams, AD/AS with both aggregate supply views, and the Phillips Curve underpin most answers.
3. Drill the calculations. Elasticities, the multiplier, index numbers and the Marshall-Lerner condition must be automatic, especially for the data-response paper.
4. Build a bank of examples. Keep UK and Welsh examples (the minimum wage, sugar and minimum alcohol pricing, UK utility regulation, the productivity puzzle, UK and EU trade) you can deploy in any answer.
5. Rehearse evaluation and synoptic links. Practise balanced extended essays for Unit 4 and connect topics, for example inflation, unemployment, growth, policy and the global economy.

The four units, topic by topic

Each unit has a topic-level overview with worked exam questions and cross-links, plus dot-point answer pages for each specification statement.

Assessment and study guidance

Because the qualification is examined entirely by written papers, exam technique matters as much as content: precise definitions and diagrams for the multiple-choice and structured questions, applied analysis for the data-response papers, and balanced, supported judgements for the Unit 4 essays. Use WJEC past papers and mark schemes to learn the board's question style and the language examiners reward.

For the official specification

WJEC publishes the full specification, past papers and mark schemes at wjec.co.uk. Always revise from the current specification and WJEC's own past papers, because question style is board-specific.