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Exam board: Edexcel Contact: Mr Yousef
Exam board: Edexcel Contact: Mr Yousef
Economics is a fascinating subject that explores the decisions that all groups (consumers, government, businesses, society) make based on the principle, wants and needs are infinite but resources are scarce. The subject combines traditional economic theories with current events so lessons are always relatable to what is going on in the world today.
What will I study?
First Year
Introduction to markets and market failure, microeconomic concepts
Nature of economics; How markets work; Market failure; Government intervention
The UK Economy - performance and policies, macroeconomic concepts
Measures of economic performance; Aggregate demand and aggregate supply; National income and economic growth; Macroeconomic objectives and policy.
Second Year
Business behaviour and the labour market
Business growth and business objectives; Revenues, costs and profits; Market structures; Labour market; Government intervention
A global perspective
International economics; Poverty and inequality; Emerging and developing economies; The financial sector; The role of the state in the macro economy
How will I be assessed?
You will complete 3 papers at the end of Year 13:
Paper 1 – Markets and Business behaviour (2 hours) 35%
Paper 2 – The National and Global economy (2 hours) 35%
Paper 3 – Microeconomic and Macroeconomics ( 2 hours) 30%
Where will it lead?
it is a highly regarded academic field of study which can provide the underpinning knowledge, awareness and skills to progress to a wide range of further studies and professions. Economics can lead to a wide range of careers in Economics and Finance-related professions including: Accountant, Actuarial Analyst, Chartered Accountant, Data Analyst, Economist, Finance and Banking, Financial Risk Analyst, Financial Planner, Forensic Accountant, Investment Analyst, Statistician, Stockbroker.
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