Economics

Course summary

The study of Economics emphasises the importance of economic issues in a modern society and seeks to encourage an understanding of the economic forces that shape all our lives in today’s world. Economics is an excellent subject for developing personal transferable skills. Employers and universities value the content, the questioning attitudes and the skills which are acquired through studying Economics. Now, more than ever, it seems the study of Economics is incredibly significant. Fundamentally, Economics is about people and the economic choices they make. At Heron Hall, studying Economics allows our students to become better-informed consumers, producers and citizens of this world. Studying economics enables students to develop an awareness and understanding of the economic forces that shape all our lives. Economists asks big questions about the world around us and seek answers to often complex issues. Economics is a powerful social science, with economists working in key roles in government and in international organisations. Students are taught Microeconomics and Macroeconomics to gain an insight into the methodology such as price determination, production, markets and market failure, as well as the reasoning behind government intervention. Other topics include government policy with an emphasis on understanding macroeconomic indicators such as inflation, unemployment and economic growth. Economics requires sound mathematical ability while students should also have an interest in the workings of individual industries and the policy decisions of governments, as the A-Level looks at both of these. Students will be expected to keep up to date with economic changes and trends, so an interest in watching or reading current affairs is very helpful.