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Economics

Curriculum Leader: R. Rhodes

Studying Economics will develop students’ ability to analyse problems and evaluate solutions. These skills are readily transferable to other subject areas and job roles and as such are highly regarded by universities and employers. Economics gives students the knowledge and understanding to form and justify opinions on current affairs from smoking/alcohol laws, to the treatment of the unemployed and austerity. Through studying theory which relates directly to everyday life, students develop a better understanding of the world around them.

Course Content


Year 12 Course Content (AS Level where applicable pre-reform)

Year 12 covers both micro and macroeconomic concepts. Microeconomics encourages students to understand the economics of businesses, markets and market failure while macroeconomics focuses on the UK and global economies, their strengths, weaknesses and interactions and the significance of economic conditions for governments and the public. Some examples of topics include:

–  Supply & Demand
–  The Determination of Market Prices
–  Elasticity
–  Market Structures
–  Firms Costs & Revenues
–  Market Failure
–  Externalities
–  Government Failure
–  Balance of Payments
–  Unemployment
–  Economic Growth
–  Inflation
–  The Circular Flow of Income
–  Monetary & Fiscal Policy

 

Year 13 Course Content (A Level where applicable pre-reform)

Year 13 also affords students the opportunity to study both micro and macroeconomics though additional theories and concepts are included in the teaching. Some year 13 topics include:

–  Consumer Behaviour
–  Interrelationship between Markets
–  Specialisation, Division of Labour & Exchange
–  Law of Diminishing Returns
–  Types of Profit
–  Efficiency & Contestability
–  The Labour Market & Wage Rates
–  The Distribution of Income, Wealth and Poverty
–  Government Intervention
–  Macroeconomic Indicators
–  Financial Markets
–  Globalisation
–  Trade
–  The International Economy

 

Entry Requirements


–  Maths: B
–  English: B
–  Economics: If you have studied Economics at GCSE you should achieve a grade B if you wish to progress to study at A-Level. However, studying Economics at GCSE is NOT an essential prerequisite.

Assessment


The AS qualification is taught in one year and assessed externally through 2 examinations. Each exam is 1h 30, marked out of 70 and equally weighted. AS scores DO NOT count towards the A2 qualification.

The A2 qualification is taught over 2 years and assessed externally through 3 exams. All exams are 2 hours long, marked out of 80 and equally weighted.

Financial Information


Students will be required to invest in a course text book and memory stick to use for the duration of the course. Students can also participate in the faculty international visit to Disneyland Paris.

The Academy will not charge for books, materials, equipment and instruction in connection with the National Curriculum or Statutory Religious Education taught at school, except where parents have indicated in advance their wish to purchase the product.

Exam Charging Policy:

–  Students with less than 85% attendance may, under the discretion of the Sixth Form Office, be asked to pay for their exam entry.

–  Exam resits that are made at the request of the post 16 students will be charged at full price.

–  When it is not possible to obtain a refund, full price will be charged to students for:

    –  the Summer Exam entry, if they withdraw from the subject after 20 April.
    –  non-attendance at an exam without good reason.

–  BTEC students, who leave the Academy prior to the conclusion of the course, will be charged £50.

Future Opportunities


Due to the broad range of topics covered and the transferrable skills learned through studying Economics, careers and progression are diverse.

An Economics A-Level can be an excellent stepping stone to almost any degree. Depending on the combination of A-Levels studied, Economics could lead to a degree in any of the following fields:

–  Law
–  Business
–  Social Sciences
–  Maths
–  Physics

 

Career opportunities would largely depend on a degree however, those studying a degree with an element of Economics typically progress to careers including:

–  Accountancy/finance sector
–  Banking
–  Law
–  Media/Journalism
–  Commerce

 

Further Information


Studying Economics will develop students’ ability to analyse problems and evaluate solutions. These skills are readily transferable to other subject areas and job roles and as such are highly regarded by universities and employers. Economics gives students the knowledge and understanding to form and justify opinions on current affairs from smoking/alcohol laws, to the treatment of the unemployed and austerity. Through studying theory which relates directly to everyday life, students develop a better understanding of the world around them.

The teaching is by well qualified specialist staff and includes formal lessons, computer-assisted learning, discussions, independent learning, tutorials and visits. The course is focused on what is happening in Britain today and involves an examination of topical issues. All students are provided with a specially written AS/A2 Level textbook. There are opportunities for regular individual tutorials. Homework will be varied and will include background reading, research, short-answer exercises and essays.