Business Studies

Course summary

The Economics course at Colton Hills is designed to develop an interest in and enthusiasm for Economics. Students will appreciate the contribution of economics to the understanding of the wider economic and social environment and develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts. Students will use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist they will understand that economic behaviour can be studied from a range of perspectives. Students will develop analytical and quantitative skills, together with qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life. Students will develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. They will also build upon their quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important. • Economic methodology and the economic problem • Individual economic decision making • Price determination in a competitive market • Production, costs and revenue • Perfect competition, imperfectly competitive markets and monopoly • The labour market