How to Achieve an A* in A-Level Economics

Achieving an A* in A-Level Economics requires more than a solid grasp of definitions and diagrams. It demands the ability to apply economic theory to real-world scenarios, construct analytical and evaluative arguments, and write clearly under exam conditions. This guide outlines a strategic approach to mastering the subject and excelling in assessments, whether your exam board is AQA, Edexcel, OCR or another exam board.

Understand the Specification

A first step towards top performance is fully understanding what the examiners expect.

Action Point: Download your exam board’s specification and become familiar with every topic and assessment objective.

• Pay close attention to command words in questions such as "analyse", "evaluate", "assess", and "to what extent".
• Familiarise yourself with how marks are awarded – especially for Level 5 responses that demonstrate evaluation, judgement, and contextual application.
• Break the specification down into micro and macro topics and track your confidence in each area.

Master the Core Economic Theories

You must have a strong command of both Microeconomics and Macroeconomics. This is the foundation for everything else.

Core Microeconomic Topics:

• Demand and Supply
• Elasticities (PED, PES, YED, XED)
• Consumer and Producer Surplus
• Market Failure and Externalities
• Government Intervention
• Cost, Revenue and Profit Theory
• Market Structures: Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly
• Labour Markets

Core Macroeconomic Topics:

• Economic Objectives (growth, inflation, employment, balance of payments, income distribution)
• Circular Flow of Income
• Aggregate Demand and Aggregate Supply (AD/AS) Model
• The Multiplier Effect
• Monetary Policy, Fiscal Policy and Supply-Side Policies
• The Financial Sector and the Role of Central Banks
• Globalisation, Exchange Rates, International Trade, Balance of Payments

Tip: Create detailed summary notes or revision cards, using diagrams to support your understanding. Organise these by theme and regularly test yourself.

Apply Real-World Context

Top-level answers incorporate recent examples to support arguments. This demonstrates to the examiner that you understand how theory operates in real-world economic systems.

Recommended Sources:

• The Financial Times
• BBC News (Business and Economy sections)
• The Economist
• Bank of England website (especially inflation and interest rate reports)
• Office for National Statistics (ONS) data

Example: If discussing inflation and monetary policy, refer to recent changes in the UK interest rate set by the Bank of England in response to inflationary pressures.

Make a habit of keeping a weekly summary of economic events and categorising them into macro and micro issues. Use these actively in essays.

Perfect Your Use of Diagrams

Diagrams are a vital part of economics and must be drawn and explained with clarity. You should be able to draw them from memory and annotate them to show the economic effects clearly.

Essential Diagrams:

• Demand and Supply (shifts and movements)
• Elasticity-related diagrams
• Externalities (positive and negative)
• Subsidies and Taxes
• AD/AS Curves
• Labour Market (wage determination, minimum wage)
• Lorenz Curve and Gini Coefficient
• Laffer Curve (for taxation)
• Exchange Rate Diagrams

Tip: Every diagram must be explained. State what is happening, why it is happening, and what the implications are. Do not leave diagrams unexplained.

Develop Strong Essay Technique

Essay writing is where top students differentiate themselves. You must write in a structured, clear and analytical way.

Use the PEEL/PEECL Structure:

• Point: Make your point clearly and link it to the question.
• Evidence: Use data, real-world events, or theory to back it up.
• Explanation: Explain the economic mechanism behind the point.
• Link: Link back to the question or to the next point.
• (C) Counterargument: Include a counterpoint and evaluate it.

Evaluation Tips:

• Discuss short-run vs long-run impacts.
• Consider different stakeholder perspectives (consumers, firms, government, workers).
• Discuss the relative importance of different factors.
• Make clear judgements – do not sit on the fence.
• Use "depends on" language to show nuanced understanding.

Conclusion: Revisit your judgement and support it with the strongest arguments from your essay. Show balance and clarity.

Interpret Data with Precision

Data response questions test your ability to extract relevant information and apply it to theory.

Key Skills to Practise:

• Calculating and interpreting index numbers
• Understanding percentage changes
• Interpreting graphs and charts
• Linking data trends to theory (e.g. linking rising inflation to monetary policy responses)

Tip: Practise writing brief analytical comments based on data in extracts. Do not describe the data – explain what it implies in economic terms.

Practise Past Paper Questions

Regular exam practice is essential. This helps you become familiar with the format, timing, and structure of questions. Revision World have all the available A-Level Economics past papers.

How to Use Past Papers Effectively:

• Work through full papers under timed conditions.
• Review mark schemes to understand what examiners are looking for.
• Write out full essays, then compare your answers to model responses or mark schemes.
• Focus particularly on high-mark, evaluative questions and practise structuring your arguments.

Read Examiner Reports Carefully

Examiner reports give direct insights into what examiners expect.

Focus On:

• Examples of strong answers from real candidates.
• Common student mistakes.
• How high-level evaluation is rewarded.
• The importance of clarity, structure, and application.

By studying how previous students succeeded or failed, you can adapt your approach accordingly.

Use Active Revision Techniques

Avoid passive reading. Engage with your revision actively to make it stick. 

Effective Techniques:

• Teach economic concepts to someone else.
• Use flashcards to test key terms, diagrams, and formulas.
• Use mind maps to show connections between macro and micro topics.
• Apply theory to case studies or current events.
• Write essay plans rather than full essays if short on time.

Tip: Mix your revision – for example, one hour of notes, one hour of diagrams, then one essay plan.

Stay Organised and Motivated

Create a realistic Revision Timetable that allows for breaks and reflection. Revision World has a free Revision Timetable maker.

• Focus more time on weaker areas but revisit strong ones regularly.
• Balance your studies between content knowledge, application, and exam technique.
• Work in short, focused sessions (e.g. 45 minutes study, 15 minutes break).
• Track your progress with checklists and goals.
• Reward yourself for consistent effort.

Mental and physical wellbeing matter too – sleep, nutrition and downtime will boost retention and performance.

What Separates an A* Student?

An A* student:

• Demonstrates thorough knowledge and applies it contextually.
• Uses real-world examples with precision.
• Draws and explains accurate, relevant diagrams.
• Writes balanced, evaluative essays using structured arguments.
• Engages with the examiners' expectations through practice and self-reflection.
• Is consistent, organised and analytical throughout the year – not just during exam season.

Final Words

Economics is a powerful and relevant subject. The A* grade is achievable with dedication, structure and curiosity. Don’t aim to just memorise; aim to think like an economist. Evaluate, challenge assumptions, apply theory, and stay up to date with the world around you.

You are preparing not just for an exam, but for a way of understanding the world. Let that mindset guide your revision.