Subject Overview: It is an exciting time to study economics. Many of the most important issues facing society are economic in nature. Studying it enables you to develop a critical awareness of an enormous range of topical issues ranging from China’s remarkable economic emergence to the role of economics in solving problems such as climate change, binge drinking and traffic congestion. This thought-provoking course offers the opportunity to learn about the latest economic theories and practice in the context of different economic issues both nationally and internationally, it explores the role of the government, producers and consumers and explains many of the issues and debates that feature in today’s news and society in general.
What we cover in each year group:
Year 1 – Year 12
Theme 1: Introduction to markets and market failure. This unit sets the foundation for the study of Economics. It involves building up an understanding of how an economy functions. You will develop a new vocabulary which will allow you to discuss economic issues. Emphasis is placed on the workings of a market economy and market failure. Markets examined include housing, health care, education and commodities.
Theme 2: The UK economy – performance and policies. This unit identifies what we expect the UK government to achieve. It examines the effectiveness of policies that are aimed at achieving objectives such as economic growth, inflation and unemployment.
Year 2 – Year 13
Theme 3: Business behaviour and the labour market. This unit examines the economic environment in which businesses compete and government involvement in managing and regulating business. It also examines the key features of the labour market.
Theme 4: A global perspective. This unit examines issues such as: the causes and impact of globalisation; international economics; poverty and inequality; developing economies and the financial sector. It also examines government policies to achieve objectives in a global context.
Qualifications and pathways: Economics is a versatile subject that can help you in a number of careers. Not only could you find yourself working for big corporations, banks or the government but your qualification in economics could also be valuable support in a career like marketing, law or journalism.
Students who take Economics at A Level also often study Law, Mathematics, Geography, History, Politics, Philosophy and Languages.
Extra-curriculum/enrichment opportunities: We organise visits and student conferences at which you can gain insights into economic policy making and useful tips from examiners into how to get top grades in exams.
Students have the opportunity to take part the in Bank of England 2.0 Challenge, the IFS student investor challenge and the Royal Economic Society Essay competition.