GCSE ECONOMICS

 

SUBJECT OVERVIEW

GCSE Economics engages students in studying contemporary economic issues in a range of local, national and global contexts. The course includes emphasis on financial capability and the global economy.

The qualification encourages students to develop as independent learners with enquiring minds, and to develop transferable skills such as critical thinking and the ability to build arguments and make informed judgements. It provides them with a sound basis for their role as consumers, producers and citizens, as well as potential related study in the future.

SUBJECT CONTENT

Year 11

  • Introductory Economics

  • Demand & Supply

  • The Labour Market

  • Costs & Revenue of a business

  • Competition & growth of firms

  • Market failure

  • Taxation & Government Spending

  • The Private & Public Sector

 Year 12

  • National Income inc the circular flow

  • Inflation

  • Unemployment

  • Financial Economics

  • International Trade

  • Balance of Payments

  • Exchange rates

  • The EU

  • Development Economics

  • Macro economic policies

METHOD OF ASSESSMENT

Year 11    

No modules

                                                                                  

Year 12

  • Paper 1: 1hr 45 min. This paper is made up of short questions, data response questions & an essay section

  • Paper 2: 1hr 15min. This paper is made up of data response with longer source material to interpret.

CAREER INFORMATION

Economics supports numerous job opportunities and is a much sought after qualification as there are many jobs now in this field. Jobs such as being an Economist, Accountant, Actuary, Statistician, Investment & Financial Risk analyst, Stockbroker, Management Consultant, Banker, Insurance broker/underwriter to name but a few!

A LEVEL ECONOMICS

 

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?