ECONOMICS

 

What is involved at GCSE?

 

Never has a subject been given such media attention as in the past few years as many of the worlds major banks collapsed and brought us all into one of the worst recessions in decades. Economics will give you the opportunity to discuss issues such as these and others:

 

  • What is a recession? 

  • Why did many people lose their jobs? 

  • Why do we spend more of our income in Asda, Poundland and Primark and less on designer labels as the recession has worsened?

  • Why are people prepared to pay more for labels:

- in the food market; Heinz, Kellogg’s and McVities,

- in the clothing market; Tommy Hilfiger, Guess, Hollister           and Ralph Lauren (to name but a few)?

  • Should the government have bailed out the banks that collapsed with taxpayers’ money?

  • Would legalising drugs reduce our consumption of them as in the Netherlands?

  • Why does Simon Cowell earn more in 1 year than most of us will earn in our lifetime?

COURSE CONTENT

 

  • Basic Economic Ideas.

  • Producing and Consuming.

  • Financial Capability.

  • Managing the Economy.

  • Trade, Aid and Development.

 

There is only 1 Tier of entry:

 

Paper 1: 1hr: Structured report on Pre-released case study.  40%

 

Paper 2: 2 hrs: A range of short answer, data response and essay questions.     60%

 

Careers - Economist, Accountancy, Law, Auditing, Marketing, Management, Banking, Insurance, Advertising, Journalism, Stockbroker, Teaching, Civil Servant, Planning, Statistician and many more!

A LEVEL

 

This specification builds upon the broad objectives of the revised NI curriculum. The revised curriculum stresses the economic dimension of education with its emphasis on citizenship, both locally and globally, recognises the need for young people to engage with the issues of resource allocation that are at the heart of Economics

A’LEVEL SUBJECT CONTENT

AS

Unit AS 1 Markets and Prices

This unit explores the basic economic problem, the role of markets and prices and why markets may fail. It examines also the need for government intervention and why this can often be counter-productive.

 

Unit AS 2 The National Economy

This introduces students to the macro-economic issues of the UK economy, namely:  inflation, unemployment and national income/economic growth. It investigates different views as to how these issues could be resolved.

 

A2

Unit A2 1 Business Economics

This unit examines in depth the decision making processes of firms, using various models to explain their behaviour. The unit also examines current influences on firm’s behaviour such as globalisation, environmental considerations and the internet.

 

Unit A2 2 The Global economy

This unit enhances the understanding of trade, trade barriers and EU membership. It also looks at the reasons why nations experience different stages of economic development and investigates the ways in which international inequalities might eventually be reduced.

METHOD OF ASSESSMENT

As level

Unit AS 1 & 2: 1hr 30min external data response and essay papers

 

A2 level

Unit A2 1 & 2: 2hr external unseen case study and essay papers

 

KEY FEATURES

 

  • Provides students with a tool kit of concepts, ideas and techniques from which they can critically investigate and analyse problems.  

  • This subject provides numerous opportunities for students to communicate orally and in writing apply ICT and to interpret and analyse data.

 

It helps students to develop their problem solving ability, thinking and study skills.   

 

Note: GCSE Economics is not a necessary requirement

 

CAREER POSSIBILITIES

Economics opens up a wide range of interesting and rewarding careers. It also combines well with other social sciences and humanities, with foreign languages, with mathematics and sciences not to mention engineering, manufacturing and business.

Those with Economics qualifications are well placed for careers in:

  • Business

  • Finance

  • Accountancy

  • Actuary

  • Law

  • Teaching

  • HM treasury

  • Management

 

Become the next Chancellor of the Exchequer or Governor of the Bank of England!

 

OTHER INFORMATION

Economics tries to answer pressing Issues such as:

 

  • Does the Banking Collapse signal the end of Capitalism?

  • Can China continue to grow at 10% pa?

  • What does the UK export?

  • Can Economics explain the obscene wages paid to professional footballers?

  • Will house prices ever rise again? When?

  • Will oil prices ever come down?