Economics
OVERVIEW
In A-level Economics, the course content is split into microeconomics and macroeconomics. In micro, we study: markets and market failure in L6th followed by business behaviour and labour markets in the second year. In macro, we study the UK economy in L6th and then look at global perspectives in year 2. Despite teaching the content as two halves, students learn how to use the information synoptically.
Economics is the ‘Science of Wealth’. It is about choices, because resources are relatively scarce. It is concerned with market forces, supply and demand and government intervention. Exchange rates, imports and exports, inflation, unemployment, development and government policy are all discussed. Pupils who have a genuine interest in current national and international affairs will find the course stimulating. Economics is a contemporary subject, rooted in what is happening in the UK and the world today and it will suit those who have an interest in politics and reading the newspapers. It provides an excellent background for pupils considering careers in business, banking, accountancy, law or politics, as well as offering an insight into psychology and sociology because it draws on a wide range of skills.
The primary attribute required to study economics is a logical and independent mind, but it also requires both mathematical and literary ability. Its content includes theoretical models to explain behaviour in the real world. It is a social science and quite technical in places. Diagrams to explain behaviour are a key part of the course. Strong grades in GCSE/IGCSE English and mathematics are advisable (a Grade 7 or above in maths GCSE/IGCSE is required to access many economics degrees).
OUR SYLLABUS
When studying microeconomics, we focus on scarcity and choice; how competitive markets work; the price mechanism; competition and market power; labour markets; market failure and government intervention. This is all tested on Paper 1. In macroeconomics, we learn about: economic policy and indicators of macroeconomic performance; aggregate supply and demand; the application of policy instruments; the global context including exchange rates and trade; and the financial sector. This is all tested on Paper 2. Finally, Paper 3 is synoptic and requires students to apply all their knowledge and understanding to case studies.
WHY STUDY ECONOMICS?
Economics is the ‘Science of Wealth’. It is about choices, because resources are relatively scarce. It is concerned with market forces, supply and demand and government intervention. Exchange rates, imports and exports, inflation, unemployment, development and government policy are all discussed. Pupils who have a genuine interest in current national and international affairs will find the course stimulating. Economics is a contemporary subject, rooted in what is happening in the UK and the world today and it will suit those who have an interest in politics and reading the newspapers. It provides an excellent background for pupils considering careers in business, banking, accountancy, law or politics, as well as offering an insight into psychology and sociology.
Each year, we get involved in the Bristol Festival of Economics. We have done this by visiting the talks and we have also streamed content to our students in the school theatre.
The department has its own society for business and economics students in which we present and discuss topical issues. We also enter a local business education cup, which we have won for the last two years!
Economics uses lots of case studies, so our students regularly research and present on topics related to the course content. These help our students with time-management; public speaking; communication; and adaptability as they respond to questions from their peers.
Traditionally economics students have been attracted to jobs within banking and finance, however the breadth of topics make this A-level a gateway to many career paths and it is highly thought of by private businesses and the public sector alike.
