Economics

This course enables students to appreciate that we are all part of the economy, and that economics relates to every aspect of our lives, from the decisions of individuals or families to the structures created by governments and producers.

Pupils will learn how economic issues affect choices about resources and markets and vice versa. They will develop the skills and confidence to explore how consumers, producers and governments interact in markets nationally and internationally. Our course provides a well-rounded introduction to this subject and an excellent foundation for advanced study in Economics.

By learning how to explain and evaluate economic problems and possible solutions, learners will acquire a way of thinking as economists and develop a logical approach to thinking and reasoning. By learning how to use economic data from a range of sources, such as tables, charts and graphs, students will acquire the skills to make informed judgements and to communicate in a clear and concise way. These transferable skills are beneficial to further study and employment.

Key skills developed during the study of Economics:

• Data and number skills
• Presenting arguments and making evidence based judgments and recommendations
• Challenging assumptions by using evidence
• Political awareness and an active interest in current affairs

GCSE Economics

GCSE Economics is a two-year course covering both microeconomics and macroeconomics. Students learn microeconomics in the first year through covering introductory topics and the role of markets and money. They then switch to macroeconomics in the second year and cover economic objectives, the role of government, international trade and the global economy.

Year 10 – Introduction to Economics

In Year 10 students are introduced to fundamental economic terms and concepts. Students will apply these to investigate and explain how markets work in contemporary and historical economic contexts. They will study the different roles and perspectives of the main economic agents (consumers, producers and the government) and how they interact in the economy.

Topics include:

• Main economic groups and factors of production
• The basic economic problem
• The role of markets
• Demand, supply and price
• Competition
• Production
• Labour markets
• The financial market

Year 11 – National and International Economics

In Year 11 students will gain an understanding of the main economic objectives and role of the government in achieving them. Students will investigate the effects of economic policies on markets. They will use and interpret quantitative evidence, such as unemployment figures, in contemporary and historical economic contexts. They will learn to appreciate the importance and impact of international trade by analysing data such as quantitative information on exports and imports.

Topics include:

• Economic growth
• Low unemployment
• Fair distribution of income
• Price stability
• Fiscal policy
• Monetary policy
• Supply side policy
• Limitations of markets
• Importance of international trade
• Balance of payments
• Exchange rates
• Globalisation

Co-curricular Activities

Our Economics department has an extensive co-curricular offer:

• Year 10 visit to Bank of England in London – we run a trip to London in the summer of Year 10 to visit the Bank of England.
• Girls are Investors – teams are allocated a mentor from a London based investment bank who they will work with to analyse a business and make a recommendation over whether to buy, sell or hold shares.
• Foreign, Commonwealth Development Office Next Generation competition – an essay competition where students get to write about some of the biggest economic challenges facing their generation.
• Royal Economics Society Young Economist of the Year – a national competition where students have to write about a current economic issue.
• Wings of Hope Achievement Award – a fundraising challenge which aims to support schools for disadvantaged children in India and Malawi.
• Young Financial Journalist – students must write an article on a given topic which could be published in The Times.
• Visiting economics speakers from local and regional organisations.