Economics

Course summary

Economics affects people on a daily basis, from the choice of products that we buy, the prices we pay for goods, and the way in which we trade and interact with other countries. Our Economics curriculum enables students to think critically about the world around them and the decisions made by policymakers, helping to develop both their analytical and evaluative skills. The course enables students to develop their ability to make informed judgements and to communicate their findings effectively. Students will again a greater insight into the economic changes seen in the area in which they live over the past 50 years, including the collapse of the industry and its impacts on the local area and how employment opportunities have changed since. Economics is seen daily by students without often realising it. Once they start studying, they begin to review their own choices and opportunities. Microeconomics - individuals, firms and market behaviour: • How economic decisions are made. • Price determination in competitive markets. • Business economics. • Behavioural economics. • Distribution of income and wealth: poverty and inequality. • Government intervention into markets and government failure. Macroeconomics- development in the national and international economy: • Inflation, growth and unemployment. • Macro policy management. • Banking and Financial markets. • Economic growth and development. • Living standards and quality of life. • The challenges of globalisation. • The UK and the international economy. In Economics lessons you will examine the principles and models of economics through real life examples recent UK and world events, as well as everyday applications from your own experiences, such as what affected your decision to buy a particular product or to choose a certain career path. We use a combination of individual, paired and group work to develop your analysis and evaluation skills, through tasks such as responding to exam questions, debates, complex problem solving of economics problems and simulations. We have trips to local businesses to see how they are affected by economic changes and have visits form guest speakers from the industry and financial institutions who will explain their responses to economic policy changes. We have teaching classrooms and IT suites, and we will use Microsoft Teams as a library for all teaching resources as well as setting and collecting independent work.