International AS and A-level Economics (9640)

A-level Economics

An engaging and up-to-date Economics specification to inspire, challenge and motivate every student.

Reflecting recent developments in international economics, this International AS/A-level specification places an emphasis on behavioural economics, the importance of financial markets, inequality within and between countries, and environmental issues.

  • A clear separation between micro- and macroeconomics and clarity in the specification on what candidates are expected to know means teachers can prepare students effectively for exams.
  • Exams feature an appropriate range of question types to enable Fair Assessment, including multiple choice and scaffolded long-answer questions.
  • Quantitative skills are clearly signposted and make this International AS and A-level excellent preparation for university study.

International AS and A-level Economics (9640)

View the switching guide to see the differences between your old International AS/A-level Economics specification and the OxfordAQA specification (version updated November 2022).

OxfordAQA International AS/A-level Economics covers the following topics:

AS Unit 1: The operation of markets, market failure and the role of government

Exam: 1 hr 45 mins, 80 marks

  • The economic problem and methodology
  • How markets work
  • An introduction to production, costs, revenue and profit
  • Competitive and concentrated markets
  • Market failure and government intervention in markets
AS Unit 2: The national economy in a global environment

Exam: 1 hr 45 mins, 80 marks

  • The measurement of macroeconomic performance
  • How the macroeconomy works
  • Economic performance
  • Macroeconomic policy
A2 Unit 3: The economics of business behaviour and the distribution of income

Exam: 2 hrs, 90 marks

  • The objectives of individuals and firms
  • Costs, revenue and profits
  • Perfect competition, imperfectly competitive markets and monopoly
  • The labour market
  • Poverty and inequality
A2 Unit 4: Economic development and global environment

Exam: 2 hrs, 90 marks

  • Globalisation and trade
  • The balance of payments, exchange rates and financial markets
  • Economic growth and development

OxfordAQA provides all the resources and advice you need to teach the International AS and A-level Economics specification effectively.

We have too many International AS and A-level Economics resources to list here, so please visit our resources for teachers area to see them all, including:

  • Schemes of work to allow you to plan how to deliver the specification in a way that will best suit you and your students
  • Teaching guidance to outline clearly the scope of teaching and learning
  • Topic tests and mock exam analysers to allow you to track your students’ progress throughout the teaching year

The exams will measure how students have achieved the following Assessment Objectives:

• AO1: Demonstrate knowledge of terms/concepts and theories/models to show an understanding of the behaviour of economic agents and how they are affected by and respond to economic issues.
• AO2: Apply knowledge and understanding to various economic contexts to show how economic agents are affected by and respond to economic issues.
• AO3: Analyse issues within economics, showing an understanding of their impact on economic agents.
• AO4: Evaluate economic arguments and use qualitative and quantitative evidence to support informed judgements relating to economic issues

For full details of the International AS and International A-level assessment, see pages 9 and 10 of the specification.


Students can re-sit units. The best result for each unit will count towards the qualification grade.

Modular qualification 

  • AS students take AS units only.
  • A-level students take AS and A2 units.
  • AS grades A – E. A-level grades A* – E.
  • Students can sit units in January or May/June.

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You must be an approved OxfordAQA centre to enter students for our exams. Make sure you become an OxfordAQA centre before you start teaching a course.

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Course specification
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(PDF, 641KB)