Curriculum Vision and Intent
This course teaches students how households, businesses and governments make decisions in order to increase wealth and maximise well-being. Students also learn that despite our infinite wants, resources are limited so we must make choices about the economic objectives we aim to achieve and the costs we face by making these choices.
We aim to:
- Transform our students into skillful economists through engaging lessons, collaboration with peers as well as independent research.
- Foster an understanding of other people’s basic economic needs, especially those from more challenging backgrounds.
- Develop our students’ cultural capital in the field of economics and put them on the path towards becoming global citizens.
- Promote systematic yet creative approaches towards problem solving in real-world economic contexts.
KS5 curriculum and assessment
What will I study?
Over two years of study students will gain an understanding of both micro and macro economics. The first year ensures students gain an appreciation of the allocation of resources, the market model and selected aspects of what makes markets efficient or leads to failure. Students will develop a good knowledge of developments in the UK economy and government policies over the past fifteen years. The concepts of supply, demand, economic growth, inflation and unemployment will be investigated in detail.
The second year builds on the foundation from year one economics. Students will develop a realistic understanding of the decisions made by firms and how their behaviour can be affected by the structure and characteristics of the industry in which they operate. Other key models investigated relate to the operation of labour markets, wage determination and causes of inequalities in the distribution of income and wealth. The second year also focuses on the global economy, helping students to gain an understanding of financial markets, globalisation and trade as well as exchange rates.
You must enjoy assessing and evaluating the merits of alternative courses of action. You will learn how to analyse data and economic models in order to formulate solutions to real world problems or to forecast future trends.
The economics course provides students with key skills, with many employers valuing economics students’ understanding of decision making, their research and analytical skills, and their experience of viewing problems in the global context.
How will I be assessed?
Exam Board: AQA
Syllabus: 7136
This qualification is assessed entirely through written exam papers that are externally assessed at the end of the course. There are three exam papers, each of equal weighting towards the final qualification. The papers are formed of data response, multiple choice and essay questions. They will allow students to illustrate their micro and macroeconomic understanding, as well as how well they apply both concepts together in context.
The three exam papers are organised as follows:
Paper 1: Markets and market failure
Paper 2: National and international economy
Paper 3: Economic principles and issues
What are the entry requirements?
Minimum of grade 6 in GCSE Mathematics is required.
Combinations
Economics combines well with almost any other subject; however, mathematics, politics, Religious Studies, geography and history make particularly good combinations.
Extra and super-curricular opportunities
Activities include participation in lectures at the London School of Economics (LSE), visits to the Bank of England Museum, and lunchtime and after school clubs focusing on current events and wider reading pertaining to economics. Links with economics can also be made through the school’s work experience placements, the model UN, and undertaking relevant research for the Extended Project Qualification (EPQ).
Future opportunities (careers, university courses)
Students may progress straight onto an economics degree with a focus on theory or an applied economics course such as Environmental Economics, Labour Economics or Public Sector Economics. It can be easily combined with other subjects.
Post-university employment rates and salaries for economists are among the highest of all graduates. An economics degree enables students to gain transferable skills in problem solving, quantitative analysis and communications. Students are likely to find employment in economics itself, Finance, Banking, Insurance, Accountancy, Management and Consultancy.
