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Farlingaye High School

Farlingaye High School

Economics

Economics

Economics

 

Specification: Edexcel

 

Qualification type: A Level

 

Entry criteria (GCSE grades) Minimum English Language 6 and/or Maths 6 as well as Business (if taken) B

 

Subject description

Economics is a very dynamic and relevant subject. Economics can be defined in a few different ways. It's the study of scarcity, the study of how people use resources and respond to incentives, or the study of economic decision-making.

This course aims to encourage students to develop an academic understanding of relevant economic and business concepts and theories and to apply them to real-world issues. An interest in the wider world will be essential.  Students will have the opportunity to participate in study trips, student conferences in London, Junior Investor Challenge, Enterprise Day and other Economic and Business competitions.

 

Course Outline:

 

AS: Theme 1: Markets, consumers and firms

Scarcity, choices and potential conflicts; Enterprise, business and the economy; Sources of finance; The markets; Market failure and government intervention; Revenues, costs, profits and cash.

Theme 2: The Wider economic environment

Business growth and competitive advantage; Marketing and price & income elasticity of demand; Increased business efficiency; Life in the global economy; The economic cycle; Introduction to macro-economic policy.

 

A Level: Theme 3: The global economy

Globalisation; Business expansion; Global marketing; Multinational corporations; Global labour markets; Inequality and redistribution.

Theme 4: Making markets work

Competition and market power; Market failure across the economy; Macroeconomic policies and impacts on firms and individuals; Risk and the financial sector.

 

How the course is assessed

Examinations are 100% of the assessment. An ability to communicate well in written form is essential; 20% of assessment will involve calculations which will need to be applied and developed to real world contexts and developed into extended written answers and essays:

AS: Two 90-minute exams in Year 12

A2: Three two-hour exams in Year 13

 

Post-18 opportunities

The course gives students access to a range of careers and opportunities for higher education (unlike similar qualifications we have had students go to read Economics at Oxbridge and LSE). Economics is also a route to other subject areas and careers including: Accountancy, Maths, Business, Economics, Finance, Insurance, Management, Market Trading/Investment Banking, Marketing, Philosophy, Politics and Social Sciences.

 

Teacher responsible:  Mr N Edge