Economics

AQA GCSE Economics 

  What does the course involve?

The subject looks at economic activity through the lens of consumers, producers, government and the workings of the global economy. As students go through the course they will be presented with opportunities to focus on real-world issues. Students will consider and reflect upon moral, ethical and sustainable issues that arise as a result of the impact of economic activity.


Students will use their economic knowledge and skills to investigate national and global economic situations and issues from the last 15 years. They will also become aware of the policies that governments have used to attempt to manage these situations and issues.


Students will develop quantitative skills relevant to the subject content. By the end of the course, they should be able to make relevant calculations from economic data and be able to interpret data in a range of forms, Research, Problem Solving, Analytical Skills, Digital Presentation Planning and Creative Thinking will be developed and applied on this course


What will you study?

AQA GCSE in ECONOMICS - 8136 


GCSE Economics will develop students' understanding of how the world works from local businesses to global corporations. They will learn about the impact global markets have on us as a society and what the consequences of their behaviours are. 


Studying GCSE Economics will allow them to explore this fascinating and practical subject in greater depth and build foundational knowledge. They will gain a solid base of understanding to build upon through further education such as A Levels or higher, as well giving them a better chance at securing better paying jobs.


The GCSE Economics course has been developed so that, during their studies they will learn how markets operate and the roles of consumers, producers or workers within markets, how the economy works nationally and globally and the levers employed by governments to reach desired social and economic objectives.

 

UNIT 1 - HOW MARKETS WORK

During this year, students will look at economic foundations such as the nature and purpose of economic activity, the factors of production and the importance of making choices. They will learn how resources are allocated using a market mechanism. The central aspect will be an investigation of how prices are determined. This introduces students to concepts such as supply and demand, intermarket relationships and price elasticity.


They will continue to investigate the significance of costs, revenue and profit for producers, leading to an understanding of the concepts of production, productivity and economies of scale. They will also explore the importance of competition in relation to resource allocation, leading to an investigation of the factors that lead to market failure, with an emphasis on the significance of externalities. 


Students are encouraged to explore the moral, ethical and sustainability issues that underpin economic decision-making and economic activity.


During this year, students will study:




UNIT 2 - HOW THE ECONOMY WORKS

In the second year students will be introduced to the wider economy from the perspective of the main economic groups: consumers, producers and government. They will explore the significance of interest rates including their impact on saving, borrowing and spending.


The core of this unit will focus on government objectives and their role in managing the economy. A range of policies will be explored in relation to the objectives, highlighting the fact that pursuing one objective can have a detrimental effect on other objectives.


They will examine why countries trade, and the significance of the global economy, including free-trade agreements. Finally, they will conclude their studies by exploring the role of money and the significance of the financial markets in modern economies. 


Students are encouraged to continue to explore the moral, ethical and sustainability issues that underpin all aspects of managing an economy.


During the second year, students will study:






How will you be assessed?


Students will have two terminal examinations at the end of Year 11.



Each examination is worth 80 marks with a duration of 1 hour and 45 minutes.


The examinations have equal weighting (50% each)

What can this course lead to?

This course naturally progresses into A Level Business or Economics, or a T Level in Business, Digital business or Finance.  Many business students go into management and administration jobs in businesses and a business qualification can also be helpful to get into finance, banking or insurance.  This qualification can also lead to an apprenticeship in Business Administration.