Economics

IGCSE Economics is a challenging and academically rigorous subject that is stimulating and one that forces pupils to develop a personal viewpoint.

Economics affects the lives of everyone and a broad understanding of how the global and local economy operates is important if we are to make sensible financial judgements and try to make sense of the political decisions that affect our everyday lives.

The One Year GCSE course gives Year 11 pupils the tools to understand the world around them, from the actions of governments to the decisions people make in the supermarket. Whatever the problem, Economics plays an important part in understanding the issues that shape our everyday lives. Their studies will help pupils recognise the similarities and differences in the economic problems that confront individual consumers, workers, companies and countries, whatever their living standards.

No prior subject knowledge is required but a good understanding of Mathematics and the ability to think and write clearly is important.

The course content covers concepts which affect individuals, organisations, societies, regions, nations and the global economy. The course will cover:

  • The basic economic problem of choice and the allocation of resources;
  • The difference between market and mixed economic systems and the benefits of each;
  • The theory behind demand and supply in the market;
  • The effect of price changes on goods and services;
  • The important role of government in the economy and how the deal with national issues;
  • The topic of free trade between countries and whether it brings prosperity or costs jobs;
  • We look at why some nations are richer than others, and whether a richer society means a happier society.