Economics is a relevant, academic and challenging subject, which investigates and analyses real world issues. Pupils at TWGGS first have the opportunity to study Economics at GCSE. The course includes:

  • How resources are allocated
  • How prices are determined in a free market
  • How producers interact with consumers
  • The operation of businesses
  • The role of government in an economy
  • Issues such as unemployment and inflation
  • The developing world

At A Level, the subject is highly topical, covering most of the major issues in public life. For example, pupils look at the impact of Brexit, the Banking crisis, immigration, technological advances and the impact on the labour force and globalisation on the British economy. Economics gives pupils an understanding of the British economy in a globalized world and proves useful for career options such as banking, accountancy, law, marketing, and advertising. It might also attract those willing to become a successful entrepreneur.

GCSE Economics

GCSE Specification: OCR

OCR specification for GCSE Economics Lessons are taught formally but there is ample opportunity for girls to ask questions and debate the effects of political decisions on all parts of society and what this may mean for the world economy. Relevant current events are constantly used to show the actions of theory in a real-world setting. Pupils must be able to write accurately and in detail; they must also be at ease with mathematical logic and good basic skills in order to seriously pursue this subject, as well as having an interest in current affairs.

 

The examination involves two written papers to be taken at the end of Year 11. They will include data response work and multiple-choice questions.

Paper 1

Introduction to Economics

1 hour 30 minutes written examination

80 marks

50% of GCSE

  • Introduction to Economics
  • The role of markets and money

Paper 2

National and International Economics

1 hour 30 minutes written examination

80 marks

50% of GCSE

  • Economic objectives and the role of government
  • International trade and the global economy

 

A Level Economics

Specification: Edexcel

Edexcel specification for A Level Economics We analyse issues that grab the headlines: unemployment, taxation and the prospect of surviving outside of a major trading bloc. Consequently, a keen interest in current affairs, as well as a willingness to read reputable newspapers is essential. Although the subject is primarily theoretical, the work in the classroom can be related directly to the real world. Lessons are delivered with ample opportunity for discussion, debate and reporting back on various topical and controversial issues.

Assessment is by a combination of structured essays, data response and multiple-choice questions. Lessons involve a combination of class discussions, note taking and independent research. The A Level examination comprises four themes:

  • Introduction to markets and market failure
  • The UK economy – performance and policies
  • Business behaviour and the labour market
  • A global perspective

The themes assessed in three separate papers of two hours each and include multiple choice, data responses and essays.

An A Level in Economics allows pupils to apply for degrees in Economics or many other social science or commerce subjects. Likewise, it is a complementary humanity for engineering, medicine, or the arts. Economics is a serious academic qualification recognised by all Russell group universities in the UK and is perceived by employers as a highly valuable body of knowledge and skills that can be applied to a vast range of employment opportunities. With further training, those holding an A Level in Economics could gain a job related to economics, business, marketing, politics, finance and accounting, human resources and public relations, among many other career paths.

Pupils considering studying Economics at degree level are advised to also take Mathematics at A Level, as some degrees require a high level of mathematical competence. This intellectual discipline, together with the subject’s relevance to commerce and industry, mean A Level Economics is viewed favourably by employers, often exempting pupils from part of professional examinations such as accountancy qualifications. GCSE Economics is a good introduction to A Level Economics but those who have not taken this can still be accepted if they are committed and have a minimum of a grade 7 in GCSE Mathematics.

 

Paper 1

 

 

Markets and Business Behaviour

2 hour written exam

100 marks

35% of A Level

 

An analysis of market failure and government intervention. There is a close evaluation of revenues, profits, the labour market and business objectives.

Paper 2

 

 

The National and Global Economy

2 hour written exam

100 marks

35% of A Level

 

Themes include International Economics examining development, poverty and inequality, the financial sector and the role of the state.

Paper 3

Microeconomics and Macroeconomics

2 hour written paper

100 marks

30% of A Level

 

A final opportunity to put all elements of the A Level course together in a test of higher order, thinking and expression.

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