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Economics

Why study Economics?

What determines the level of UK interest rates? What are the implications of BREXIT? Should the health service be provided by the state or the private sector? Do the activities of multinationals assist or hinder the development of poor countries? Why has the Chinese economy grown so quickly?

It is an exciting time to study Economics. Many of the most important issues facing society are economic in nature. Whether you are concerned with global warming or global trade, whether you are looking at the collapse of world financial markets or the collapse of your neighbour’s small business, you can’t get far without knowledge of economics. This course aims to stimulate your interest in how economies work – at personal, national and world levels.

Entry requirements

7 in GCSE Mathematics and 6 in GCSE English Language or Literature.

Course Outline

There are four themes in A-level Economics.

Theme 1: Introduction to markets and market failure

1.1 Nature of economics
1.2 How markets work
1.3 Market failure
1.4 Government intervention

Theme 2: The UK economy – performance and policies

2.1 Measures of economic performance
2.2 Aggregate demand
2.3 Aggregate supply
2.4 National income
2.5 Economic growth
2.6 Macroeconomic objectives and policy

Theme 3: Labour market

3.1 Business growth
3.2 Business objectives
3.3 Revenues, costs and profit
3.4 Market structures
3.5 Labour market
3.6 Government intervention

Theme 4: A global perspective

4.1 International economics
4.2 Poverty and inequality
4.3 Emerging and developing economies
4.4 The financial sector
4.5 Role of the state in the macro economy

All four themes are externally assessed by three written examinations. The examinations incorporate multiple choice questions, short answer questions, data response questions and extended open answer questions.

Course Delivery

Our approach to economics is to apply economic theory to support analysis of current economic problems and issues, and to encourage you to appreciate the interrelationships between microeconomics and macroeconomics. We provide engaging and up-to-date content in lessons so that you can relate what you are learning to the world around you – locally, nationally and globally. You will develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. You will also have the opportunity to engage in debate and discussion with fellow pupils.
Economics has become increasingly quantitative and you will be expected in lessons to use and interpret graphs, tables, bar charts, pie charts and composite indicators. You will also be required to calculate index numbers and elasticity along with marginal cost/revenue and utility calculations.

Higher Education and Career Opportunities

You will develop a wide range of skills that universities and future employers value greatly, including the ability to: analyse and interpret qualitative and quantitative data, communicate concisely, think critically and solve problems, apply literary and ICT skills.
The subject is well regarded by universities and supports progression into a wide range of other courses including: History, Geography, Law, Politics and Mathematics. Related careers could include: accountancy, actuarial analysis, banking, business, finance and journalism.

Contact for further information

Mr M S Smith, Head of Business Education