Economics

Sacred Heart High School

02087487600

212 Hammersmith Road, (Entrance Bute Gardens), London, W6 7DG

Course summary

The aim of the course is to encourage those that are interested in Economics to: • Develop an interest in and enthusiasm for the study of the subject. • Appreciate the contribution of economics to the understanding of the wider economic and social environment. • Develop an understanding of a range of concepts and acquire an ability to use these concepts in a variety of different contexts. • Use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist. • Develop skills, qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life. The curriculum is split into two main sections, the first section introduces students to microeconomic issues and the second section covers mainly macroeconomic issues. However, students should appreciate that microeconomics and macroeconomics are not entirely distinct areas of study. For example, microeconomic principles often provide fundamental insights into understanding aspects of the macro economy. Similarly, economic issues and problems often contain both a microeconomic and macroeconomic dimension. Students will be expected to acquire competence in quantitative skills that are relevant to the subject content and be familiar with the various types of statistical and other data which are commonly used by economists. Examples of other relevant quantitative skills include: the construction and use of graphs and the application of statistical measures such as the mean, median and relevant quantiles. Students are encouraged to develop a critical approach to economic models and methods of enquiry. They should appreciate that value judgements play an important role in economic decision making. They should understand the methodology of economics and the role of evidence whilst recognising that economics is a social science and that people’s behaviour is not necessarily rational or predictable. It is expected that students will acquire a good knowledge of trends and developments in the economy which have taken place over the past fifteen years and also have an awareness of earlier events where this helps to give recent developments a longer term 37 perspective. At the end of the two year course, students will sit three two hour written exams. Each exam will be worth one third of the A-level. Paper one will cover markets, market failure, paper two will cover the national and international economy, and paper three will draw on material from the whole course.