Economics

The study of economics is concerned with forces and factors that influence the way in which we operate as a society, such as unemployment, growth and government decision making; it is important that students develop clear knowledge of how these issues effect our everyday lives. In sixth form the course is divided into two main areas: macroeconomics, which looks at wider issues affecting the economy, including growth and inflation, while microeconomics is concerned with smaller issues such as supply and demand.

Studying economics is particularly beneficial for students with an interest in business and politics, but can be applied in a vast array of professional disciplines.

KEY STAGE 4

YEAR 10

  • Half Term 1: Money: Spending, saving, investing and borrowing money
  • Half Term 2: The purpose and nature of work; impact of unemployment
  • Half Term 3: International trade
  • Half Term 4: Exchange rates; immigration and emigration
  • Half Term 5: Research topic investigation
  • Half Term 6: Research topic investigation

YEAR 11

  • Half Term 1: Economic objectives of the government
  • Half Term 2: Types of economy and market failure
  • Half Term 3: Fiscal and monetary policy
  • Half Term 4: The role of the European Union
  • Half Term 5: Revision

SIXTH FORM

YEAR 12

  • Half Term 1: Micro Economics – the basic economic problem; supply and demand; elasticities
  • Half Term 2: Micro Economics – market failure; government intervention; government failure
  • Half Term 3: Macro Economics – Economic growth; Economic indicators; Employment; Aggregate demand; aggregate supply
  • Half Term 4: Actual and potential growth; benefits and cost of growth; government objectives; demand side and supply side policies

YEAR 13

  • Half Term 1: Micro Economics – business objectives; company growth; revenue; costs and profits; economies and diseconomies of scale
  • Half Term 2: Market concentration; Market structures; oligopolies and monopolies
  • Half Term 3: Perfect competition; monopsony; monopolistic competition; contestability
  • Half Term 4: Government intervention