Economics

From ‘what are the main challenges facing this country?’ to ‘how much work should I do?’ and ‘are bankers greedy or just responding to incentives to who set the rules in the first place?’ Economics provides the answers and usually, there is more than one answer to the question.

Economics is about how people make decisions as they try to live a ‘better life’. It investigates choices when we have a limited set of options and how we trade them off against each other. Whether we succeed is another question - but that’s part of the attraction of the subject – dealing with uncertainty.

Students typically enjoy this field as it is a change from previous disciplines they have studied as well as being a subject about current events.

Through the study of Economics, the aim is to develop students' awareness of the world we live in. Identifying the choices people make regarding using resources and the impact those choices have on the economy and everyday life.

Economics cultivates students' analytical skills and interpretation of data. Students also improve their writing skills to consider arguments on issues from more than one point of view and provide a reasoned conclusion.

Economics students will develop skills of data interpretation and essay writing to consider issues from more than one viewpoint and reach a reasoned conclusion. As a starting point, they need to be able to write well to show understanding and to write to persuade. Students need to be numerate, think clearly and understand ratios, percentages and trends in data.

ECONOMICS LEARNING JOURNEY

Course Progression

Year 12 Course Overview

In Year 12 Students will learn background study skills, introductory concepts and a broad range of economic models. There is also a heavy emphasis on analysing these models and applying to the real world. This includes both the markets for individual goods and services, and national economies.

Year 13 Overview

At A Level, greater depth of analysis is required, and there is a much bigger emphasis on essay writing to discuss and evaluate issues and policies.

Course Requirements

GCSE Math’s Grade 6 or above is required.

No prior knowledge of this subject is needed. As a starting point students need to be able to write well to show understanding, and to write to persuade. Students need to be numerate, think clearly and understand ratios, percentages and trends in data.

Assessment Structure

A Level: Edexcel Exam Board

Paper 1: Markets and Business behaviour (Micro) 35% of total.

Paper 2: National and Global Economy (Macro). 35% of total.

Both papers have Multiple Choice, short answer, and stepped Data Response questions including an essay.

Paper 3: General economics. 30% of Total. 2 Data response questions & 2 essays. The essays combine micro and macro effects of economic changes.

20% of the marks are based on Maths. The standard is B grade GCSE.

Skills

The skills developed in Economics are transferable, highly valued by employers and make you a good prospect:

Flexibility
Asking questions
Making Judgements
Understanding people
Problem solving
Report writing skills - analysing, selecting, organising and communicating clearly. Critical analysis - of events, people, documents.
Your ability to communicate: both spoken and written.
Logical thought processes - the ability to work out why things happen, to establish theories and back them with evidence.
Reference skills

Since many of the issues studied in Economics do not have clear and easy explanations, while you are studying the topic you will have the chance to become more skilled at reasoning, deduction, and at organising and evaluating information.

Finally, as a result of having to defend your opinions and conclusions in class discussion, you will find yourself with many chances to develop your own self-confidence.

Related Courses and Careers

Courses: A Level: Maths, any academic subject including sciences. Good combinations include History, Geography, Politics and Modern Foreign Languages. Usually not a good fit with performance, but there have been exceptions
University: higher universities doing Single Honours Economics needs A Level Maths. Joint Honours need less Maths. Useful for accountancy and finance related degrees
Careers: As ‘an economist’ – banks' research/analysis functions, Government (national and local) economists, consultancy
Entry into: any management/leadership roles, marketing, finance, accountancy in the private or public sector
The value of an economics degree is the ability to think in both numbers and logic, to compare options to make the best/least worst solution to problems

Economics

Course Progression

Related Courses and Careers

CURRICULUM