Economics

“We are currently preparing students for jobs that don’t yet exist, using technologies that haven’t been invented, in order to solve problems we don’t even know are problems yet.”
Richard Riley, former US Secretary of Education.

Overview

Our department wishes to build a brand of students who are able to succeed in the real-world business environment both, academically and through the wider attributes students will develop.

The Business and Economics faculty is a thriving entity that develops core business and economic knowledge and applies current and relevant examples into our teachings. We aim to develop a mindset that encourages critical thinking and confidence in our students that shapes the next generation of entrepreneurs.

It has never been of more importance for young minds to have an understanding of the business and economic environment and the implications that this has on them currently and in future. Recent events such as Brexit, Covid-19 and the changing of leadership in foreign countries has created a very dynamic environment in which we live and will inevitably lead to consequences that impact on our prosperity. Our ability to trade freely within the EU has been compromised and this will impact on duties, fees and potentially the exchange rate with other currencies. The reduced interest rates by the Bank of England have led to lower mortgage repayments, increased borrowing and encouraging spending of households. Additionally, the restrictions by the government will impact on the human capital of the UK economy and our ability to compete on an international scale. Business, economics and travel has never been of such importance.

There are four teachers in the faculty, each with their own specialisms and degrees of real-life experience operating within business which allows us to successfully deliver the subjects with a personal touch and insight.

Areas of Study Covered: 

Y9 KS4 – AQA GCSE Economics

  • Introduction to economics
  • Factors of production
  • How prices are determined
  • The UK national economy
  • Government objectives

Y10 KS4 – AQA GCSE Economics

  • Production, costs and revenues
  • Competitive and concentrated markets
  • Conflicts in government objectives
  • Government intervention in the economy

Y11 KS4 – AQA GCSE Economics

  • Competitive and concentrated markets cont.
  • Labour market
  • Market failure
  • International trade
  • The role of money and financial markets

Y12 KS5 – AQA A Level Economics

  • Introduction to economics
  • Factors of production
  • How prices are determined
  • Concentrated and competitive markets
  • Market failure
  • The measurement of macroeconomic performance
  • The circular flow of income
  • AD/AS analysis
  • Economic performance

Y13 KS5 – AQA A Level Economics

  • Behavioural economics
  • Distribution of income and wealth
  • Market failure
  • Methods of government intervention
  • Economic growth and inflation and unemployment
  • Financial and monetary markets
  • Fiscal policy
  • Globalisation
  • Economic development
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