Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families, to the structures created by governments and firms. We aim to develop in our students a curiosity about the world around them and an understanding of how businesses and the economy works. We encourage our students to consider the role of business and finance in wider society and to question how factors of production are allocated. We wish to promote an understanding of our place in the wider economic world and to prepare students for the various roles that they will play within it including as consumers, employees and potential entrepreneurs. Our students develop analytical and evaluative skills; we encourage them to question data and to be willing to explore the stories behind a headline or statistic. We are keen to improve financial literacy and ensure that our students develop a knowledge and understanding of key economic concepts including those relating to personal finance.
Course Content
We cover the Edexcel A Economics course, which is divided into four themes:
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Introduction to markets and market failure: supply and demand, rational behaviour, market failure and government intervention
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The UK economy – performance and policies: aggregate supply and demand, economic growth and measures of economic performance
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Business behaviour and the labour market: costs and revenue, market structures, the labour market and regulation.
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A global perspective: development, international economics, the financial sector, poverty and inequality.
We will consider questions such as:
• Why does the government provide street lights?
• Why are house prices in some parts of the UK so high?
• Why do some countries experience such different levels of economic growth?
Economics enables students to understand more about the world around them and to develop a perspective on various economic policies. Economics supports students to develop their logic and critical thinking skills as well as preparing them for the roles they will play as consumers, producers and employees.
Studying economics so far, as a year 12 currently in my third term into the course, has been amazing. I’m very happy that I chose to study this subject and would recommend it to everyone as I find that it is a subject where you can relate what you learn to the real world and see real life examples of the topics in the course presented in day-to-day life. Since starting economics, I have noticed that my knowledge about real life issues and current topics, has improved enormously, as the subject has given me context, and a much wider understanding. Not only this but I have found that economics as a subject is intriguing and thought provoking, allowing you to assess all angles of situations, and to think in a deeper manner.
Studying economics has been thoroughly enjoyable, as I find that the concepts we learn in class are highly applicable in today's world and aid in deepening my understanding of not only the current economy and the variety of contributing factors that shape it or change it, but also of the elements that have influenced the economy in the past and that can have influence in the future. I find the versatility of economics and comprehending the multiple perspectives and effects that occur from different economic decisions particularly interesting, since they have a diverse impact on a range of people which can often be contrasting, therefore stimulating logical and critical thinking skills which can be utilised in many other subjects not just economics. I like how the content in economics links with many other subjects because this helps to further consolidate my comprehension of the prominent relevance of economics within the world.
Co-Curricular
All students attend the ‘Bank of England virtual student conference’ and are encouraged to read widely outside of the subject (for example through free access to the Financial Times through the FT Schools programme)