Welcome to the Economics Department
Economics is a dynamic subject and much of our learning experience can be linked to current affairs. The use of broadsheet newspapers and supporting web sites are a key component of study, and this is enhanced by a number of trips to student conferences and seminars.
Successful students will gain an understanding of current issues. They will acquire the knowledge and skills necessary to enable them to evaluate the decisions of governments and businesses, the words of the press and politicians, and comment on any aspect of human behaviour that affects the allocation of resources and the welfare society.
We aim to encourage greater knowledge and awareness of economic, social and business related issues. The subjects lends itself to academic learning with direct relevance to real life issues, and a solid foundation for a wide range of university and career choices.
Key Stage Five
First A Level examination - Summer 2017
Course Content - What Will I Study
- AS Modules - Year 12
- Paper 1 - The Operation of Markets & Market Failure. This unit provides an introduction to why economic choices have to be made, the market model, how markets can be efficient and also how they can fail (e.g. road congestion), and what governments can do to correct market failure (e.g. road pricing).
- Paper 2 - The National Economy in a Global Context. This unit provides an introduction to how the level of macroeconomic activity is determined and to key macroeconomic indicators (e.g. exchange rates), problems (e.g. unemployment) and policies (e.g. changing interest rates).
- A Level Modules
- Paper 1 - Markets and Market Failure.
- Paper 2 - The National and International Economy.
- Paper 3 - Economic Principles and Issues.
In the second year, candidates develop the micro and macroeconomics already learnt at AS, considering economic concepts and theories in greater depth and recognising the values and limitations of economic models. Two new topics have been introduced, highlighting the growing importance of financial and behavioural economics in current thinking.
How will my progress be tested and examined?
- At AS Level both units test understanding by compulsory objective test and by written response to a short piece of stimulus material (there is a choice of two questions).
- At A Level candidates sit three papers. For the first two, Micro and Macroeconomics, candidates are required to answer a data response question (from a choice of two) and an essay (from a choice of three). The third paper consists of an Objective Test section, while the written section focuses on a topical issue which requires an extended essay response.
- Each of the 3 Units account for 33% of the overall A Level result.
Progression - How will the study of Economics benefit students’ future education and career?
- The skills developed in Economics will help students in all A Level subjects and in all jobs.
- Students will improve and extend their communication, ICT and numeracy skills as a result of taking these courses and gain a wider understanding of the economic environments in which business operate and will provide an excellent foundation for any future career.
- The subject lends itself to academic learning with direct relevance to real life issues, and a solid foundation for a wide range of university and career choices.