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Economics
Browse OCR GCSE Economics lessons, questions, and revision tools. Free access to past papers from 2019–2024 with mark schemes. OCR GCSE Economics (J205) is a Level 1/Level 2 qualification regulated by Ofqual, taken by students aged 14–16. It covers how markets and prices are determined through supply and demand, production, costs and profit for producers, competition, market structures and market failure, macroeconomic objectives such as growth, employment and inflation, fiscal and monetary policy and the role of government, international trade, exchange rates and globalisation, and money, financial markets and personal finance, with a strong focus on with a strong focus on applying economic concepts to real-world data and evaluating the costs and benefits of economic decisions and policies. The course is a single-tier qualification graded 9–1, typically 120 guided learning hours, with first assessment in 2019.
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Assessment at a glance
| Assessment | Format | Duration | Marks | Weighting |
|---|---|---|---|---|
| Introduction to Economics (J205/01) | Written exam | 1h 30m | 80 marks | 50% |
| National and International Economics (J205/02) | Written exam | 1h 30m | 80 marks | 50% |
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Course aims & skills
OCR GCSE Economics builds the skills examiners reward. By the end of the course you should be able to:
- interpret and analyse economic data from tables, charts and graphs
- calculate key economic measures such as price elasticity, GDP growth and inflation
- draw and interpret supply and demand diagrams
- explain how markets allocate resources
- apply economic concepts to real-world national and global contexts
- evaluate the costs and benefits of government economic policies
- analyse the causes and consequences of market failure
- make reasoned judgements using both qualitative and quantitative evidence
- consider the ethical and sustainability impacts of economic decisions
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