Economics

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Economics is essentially the study of the material aspects of life.

More specifically “the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.”

Department aims:

  • To develop a keen interest and enthusiasm for the subject
  • To promote a sophisticated understanding of economic concepts and theories to foster a critical consideration of economic issues
  • Engage pupils to appreciate the value of economic theories to aid our understanding of the national and international economic environment
  • To facilitate the ability to think as an economist
  • Develop the skills and attributes to equip pupils for examination success and beyond

Students have to master the new language, methodology and content of the subject and learn to apply theoretical concepts to complex situations. Pupils are expected to have a lively curiosity about the world due to the contemporary emphasis of the subject. Department Results at A Level are outstanding.

The A Level is structured into four themes with three externally assessed examinations.

Theme 1 – Introduction to markets and market failure

  • The nature of economics
  • How markets work
  • Market failure
  • Government intervention

Theme 2 – The UK economy – performance and policies

  • Measures of economic performance
  • Aggregate demand
  • Aggregate supply
  • National income
  • Economic growth
  • Macroeconomic objectives and policy

Theme 3 – Business behaviour and the labour market

  • Business growth
  • Business objectives
  • Revenues, costs and profit
  • Market structures
  • The labour market
  • Government intervention

Theme 4 – A global perspective

  • International economics
  • Poverty and inequality
  • Emerging and developing economies
  • The financial sector
  • Role of the state in the macroeconomy

Mr D Connolly is the Head of Economics and Team Leader (Senior Examiner for Edexcel marking).

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