Topics shared across exam boards
OCR · AQA · WJEC – Edexcel
1. Economic methodology
- Economics as a social science
- Positive vs normative statements
- Assumptions and limitations of models
- Ceteris paribus
2. The economic problem
- Scarcity, choice and opportunity cost
- Factors of production
- Production possibility frontiers (PPFs)
- Economic growth shown via outward shifts of PPF
3. How markets work
- Demand and supply
- Movements vs shifts
- Price determination & equilibrium
- Price mechanism (rationing, incentive, signalling)
4. Elasticities
- Price elasticity of demand
- Income elasticity of demand
- Cross elasticity of demand
- Price elasticity of supply
- Applications to firms and government policy
5. Consumer & producer surplus
- Definitions
- Diagrammatic analysis
- Impact of taxes, subsidies, price changes
6. Market failure
- Externalities (positive & negative)
- Public goods
- Information failure
- Merit and demerit goods
- Welfare loss and misallocation of resources
7. Government intervention
- Taxes and subsidies
- Price controls (minimum & maximum prices)
- Regulation
- State provision
- Evaluation of effectiveness
8. Government failure
- Unintended consequences
- Information problems
- Administrative costs
- Distortion of price signals
9. Business economics
- Objectives of firms
- Costs, revenues, profits
- Economies and diseconomies of scale
- Market structures:
- Perfect competition
- Monopoly
- Oligopoly
10. Labour market
- Demand and supply of labour
- Wage determination
- Unemployment types
- Role of trade unions
11. Macroeconomic objectives
- Economic growth
- Inflation
- Unemployment
- Balance of payments
12. Aggregate demand & aggregate supply
- AD components (C+I+G+X−M)
- Short-run and long-run AS
- Demand-side vs supply-side shocks
- Use of AD/AS diagrams
13. Macroeconomic policy
- Fiscal policy
- Monetary policy
- Supply-side policy
- Policy conflicts and trade-offs
14. International economics
- Trade
- Exchange rates
- Globalisation
- Current account
- Protectionism (tariffs, quotas)
OCR vs AQA vs WJEC Economics
Similarities and key differences between the three most similar A-level Economics boards
✔ Topics common to OCR, AQA & WJEC
- Scarcity, choice & opportunity cost
- Demand & supply, equilibrium and price mechanism
- Elasticities (PED, YED, XED, PES)
- Market failure: externalities, public goods, information failure
- Government intervention and government failure
- Business costs, revenues, profits and economies of scale
- Market structures: perfect competition, monopoly, oligopoly
- Labour market, wage determination and unemployment
- Macroeconomic objectives: growth, inflation, unemployment, BoP
- AD/AS analysis and macroeconomic policy
- International trade, exchange rates and protectionism
AQA – Key emphasis
- Merit & demerit goods (explicit)
- Income & wealth inequality
- Poverty and redistribution
- Circular flow of income & multiplier
- Clear separation of micro and macro themes
WJEC – Key emphasis
- Merit & demerit goods
- Inequality and poverty
- Globalisation (explicit topic)
- Circular flow and multiplier
- Strong applied, real-world focus
OCR – Key emphasis
- Merit & demerit goods
- Inequality and poverty (micro focus)
- Globalisation and winners/losers
- Circular flow of income
- Less abstract theory, more realism
Exam takeaway: OCR, AQA and WJEC are highly similar. Differences are mainly emphasis (inequality, globalisation, circular flow), not core theory.
AQA · OCR · WJEC Topics (Not Explicit in Edexcel)
One-page checklist of content common to AQA, OCR and WJEC but not required by Edexcel
✔ Included in AQA, OCR & WJEC
- Merit & demerit goods (explicitly named and examinable)
- Income & wealth inequality (micro focus; equity as market failure)
- Poverty (UK focus) – absolute vs relative poverty
- Globalisation as a standalone topic (winners & losers)
- Circular flow of income (leakages & injections)
- Multiplier (clear explanation and application)
- Accelerator theory (conceptual awareness)
ℹ Why Edexcel is different
- Merit/demerit ideas embedded in externalities & information failure
- Inequality mainly covered at macro / development level
- Globalisation integrated into trade & development
- Circular flow & multiplier covered but less exam emphasis
- Accelerator not required
| Topic | AQA | OCR | WJEC | Edexcel |
|---|
| Merit & demerit goods | ✅ | ✅ | ✅ | ❌ |
| Inequality (micro) | ✅ | ✅ | ✅ | ⚠️ |
| UK poverty | ✅ | ✅ | ✅ | ⚠️ |
| Globalisation (standalone) | ✅ | ✅ | ✅ | ❌ |
| Circular flow & multiplier | ✅ | ✅ | ✅ | ⚠️ |
| Accelerator | ⚠️ | ⚠️ | ⚠️ | ❌ |
Exam tip: If switching from AQA/OCR/WJEC to Edexcel, drop the labels merit/demerit goods and accelerator, and reframe answers using externalities, information failure, AD/AS and evaluation.
Differences between WJEC, AQA, OCR, Edexcel
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A-Level Economics: Topics Common to Edexcel, AQA & WJEC, OCR
Core theory you can revise safely for all exam boards
Microeconomics (Common)
- Scarcity, choice & opportunity cost
- Production possibility frontiers (PPFs)
- Demand & supply
- Price mechanism
- Elasticities (PED, YED, XED, PES)
- Consumer & producer surplus
- Market failure (externalities, public goods)
- Merit & demerit goods
- Government intervention & failure
- Business costs, revenue & profits
- Economies & diseconomies of scale
- Market structures (PC, monopoly, oligopoly)
- Labour market & wage determination
Macroeconomics (Common)
- Economic growth
- Inflation
- Unemployment
- Balance of payments
- Aggregate demand (C+I+G+X−M)
- Aggregate supply (SRAS & LRAS)
- Economic cycles & output gaps
- Fiscal policy
- Monetary policy
- Supply-side policies
- Policy conflicts & trade-offs
- International trade
- Exchange rates
- Protectionism
About 80–85% of A-level Economics content is shared across Edexcel, AQA, OCR and WJEC.
About The Author
Tejvan Pettinger. Author of “Cracking Economics” “What Would Keynes Do?” – studied PPE Oxford University (1995-99) and works as an economics teacher and writer.
