| Syllabus Followed: | Edexcel 8EC01 (AS) and 9EC01 (A2) |
|---|---|
| Entry Requirements: | Grade B in GCSE Maths and Grade B in GCSE English Language |
2 Units are covered and externally assessed from September 2008.
2 Units are covered externally and assessed from September 2009.
Every society has to make decisions about how to use its limited resources. The study of Economics begins by attempting to analyse how these decisions and individuals firms and governments make choices. Economics offers powerful insights into the way we live. By studying Economics, you should improve your understanding of matters that profoundly affect us all.
Business Studies can be viewed in part as the practical application of Economics to the business environment of the real world. In Business Studies, government and consumer behaviour are analysed in terms of their effects on business. For example, the Economist will be trying to answer the question “What factors will lead to changes in the level of interest rates?” For the business analyst, the important issue is “What effects will change the rate of interest have on business?”
In Economics, the emphasis is rather wider; it involves the implications for society. In turn, Business Studies is much wider than the practical application of Economics; it also involves consideration of aspects of law, accountancy and psychology, which are not covered in the Economics course.
You will be expected to use and interpret graphs, tables, bar charts, pie charts etc. In some topic areas numerical calculations such as percentage changes are also required. However, you will not be required to undertake exceptionally difficult calculations. You will also be required to combine your ability to interpret data, with an ability to write coherently and analytically.
Although Economics has links with Geography, Politics, History and Mathematics, it can be successfully combined with any other subject area. It will particularly appeal to those with a keen interest in current affairs.