Economics

Course summary

Why study the subject • If you have a desire to learn about and connect with the key issues in today’s world. • If you enjoy a dynamic learning environment which utilises a multitude of resources, with a classroom full of discussion. We expect a high level of teacher and student interaction which makes for a stimulating and engaging learning environment. Course Structure Year 12 Students are introduced to economics through building knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real-world businesses and the environments in which they operate. Year 13 Breadth and depth of knowledge and understanding with applications to more complex concepts and models are developed in the second year of study. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessment and demonstrate an awareness of current economic events and policies. Unit content Theme 1 Scarcity, choice and potential conflicts; Enterprise, business and the economy; Sources and methods of finance; Introducing the Market; Market failure and Government intervention; Revenues, costs, profits and cash. Theme 2 Business growth and competitive advantage; Marketing and elasticity of demand; Increasing business efficiency; The Economic Cycle; Introduction to macroeconomic policy. Theme 3 Globalisation; Business expansion; Global marketing; Multinational corporations; Global labour markets; Inequality and distribution. Theme 4 Competition and market power; Market failure in business; Market failure across the economy; Macroeconomic policies and impact on business and individuals; Risk and the financial sector. Skills Acquired • Practical application of economic and business concepts • Analytical, decision making • Active rather than passive understanding of the subject Students suited to the course Students with an enterprising mind, a keen interest in how individuals, firm and government decisions impact stakeholders. What other subjects it combines well with Economics is broad and can be combined with many subjects. Students looking to continue the subject at university should think about combining it with facilitating subjects especially Mathematics, English, Computer Science, French and Spanish. Career or HE the course leads to If you would like to study economics, business, finance or management at university, A-Level Economics provides an excellent foundation. The skills you learn are also transferable across a broad range of subjects and careers. An understanding of the economy and how to thrive in a business is a huge advantage in today’s job market. The analytical and evaluative skills which students develop are highly valued in a range of careers including law, journalism and in the wider business world. Economics opens doors to opportunities. Co-curricular Trip and visits, Young Enterprise, Investment competitions.