Economics is essential to our understanding of the world in which we live and work. It develops greater insight into current economic issues, problems and institutions that affect our everyday lives. Economics is fundamentally about choice behaviour, in relation to individuals, households, firms and governments. It analyses how scarce resources are allocated at both micro and macro economic levels and the impact these choices have on the individual as well as the economy. It is a subject that develops an enquiring, critical and thoughtful mind, preparing young people to participate in a twenty first century global economy.
Students are introduced to the workings and mechanisms of the economy at microeconomic and macroeconomic level. The course, has two mandatory papers:
Paper 1 - The Operation of Markets and Market Failure (50%)
Paper 2 - The National Economy in a global context (50%)
Assessments taken at the end of the course are:
Paper 1 - Markets and Market Failure (33.3% of A-level)
Paper 2 - The National and International Economy (33.3% of A-level)
Paper 3 - Economic principles and issues (33.3% of A-Level)
Grade 5 in GCSE Mathematics and Grade 5 in GCSE English Language.
Studying economics can lead to many careers in the Finance sector, e.g. Investment Banking, Trading and Insurance. Economics can also open doors to working in the Bank of England or International Finance. As all areas of business require economic knowledge and experience, economics can lead to great success and satisfaction in business.