Economics
Welcome to the Economics page.
Below you will find information on the course with a link to the Course Curriculum.
To view the Course Curriculum, please click here
Year 12
Economics is taught as a new subject in Year 12, therefore initial content in the first term is based around establishing basic tools to construct Economic arguments. Where necessary, additional material is taught to allow students to put the curriculum content in context. For example, in Macroeconomics, the difference between free market and Keynesian approaches is set within the ideas of left wing and right wing politics. Some skills within Year 12 Economics require content first taught in other subjects, so some recapping is required, such as ensuring students are comfortable with percentage change.
Autumn |
Microeconomics: How markets (should) work. The principles of supply and demand and theory of free market economics. Macroeconomics: Focussing on the UK economy, looking at the key economic indicators and the AD/AS model. |
Spring |
Microeconomics: How and why markets fail. Why many economic theories and principles fail to work in practice and how they are remedied. Macroeconomics Economic policies and policy conflicts. |
Summner |
Microeconomics: Introduction to Business Economics. How individual businesses interact within different market structures. Macroeconomics Reinforcing Year 12 work on trade and the current account and starting Year 13 content on trade and exchange rates. |
Year 13
As well as covering curriculum content, there is an emphasis on trying to ensure students are up to date with current Economic themes and debates, such as the use of protectionist policies in the trade war between China and America, or the UK government’s budget. In microeconomics, the labour market presents an opportunity to study current Economic arguments as to the need for an executive pay cap, or an increase in the minimum wage. Further emphasis is placed on this in Year 13 since students will be more literate in Economic analysis and therefore will be able to base arguments on previously learned subject matter.
Autumn |
Microeconomics: Economic theory behind business decisions. How the number of firms in a market affect how firms behave and how this affects consumers. Macroeconomics: International trade, currencies and protectionism. Inequality and development. |
Spring |
Microeconomics: Government intervention regarding competition policy. Focus on the synoptic paper. Macroeconomics: Growth strategies, financial economics, public spending and the state. More on monetary policy. |
Summer |
Microeconomics: Exam practice / revision / study leave. Macroeconomics: Exam practice / revision / study leave. |