Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life.
Why Study Economics?
The primary attribute required to study economics is a logical and independent mind. Economics 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 English and mathematics is advisable (an A in maths is required to access many economics degrees).
Pupils will consider the following topics:
- Scarcity and choice
- How competitive markets work
- Competition and market power
- Labour market
- Market failure and government intervention
- Economic policy objectives and indicators of macroeconomic performance
- Aggregate demand and aggregate supply
- The application of policy instruments
- The global context
- The financial sector