Economics

Course summary

YEAR 12: This theme focuses on microeconomic concepts. Students will develop an understanding of: - Nature of economics - How markets work - Market failure - Government intervention Theme 2: The UK economy – performance and policies This theme focuses on macroeconomic concepts. Students will develop an understanding of: - Measures of economic performance - Aggregate demand - Aggregate supply - National income - Economic growth - Macroeconomic objectives and policy. YEAR 13: Theme 3: Business behavior and the labor market. This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of: - Business growth - Business objectives - Revenues, costs and profits - Market structures - Labor market - Government intervention Theme 4: A global perspective This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of: - International economics LEARNING AND SKILLS: Economics is taught with lots of Q&A and class discussion - Analytical writing, diagrammatic analysis and data response are practiced and tested regularly. - You develop an understanding of economic concepts and theories through critical consideration of the current economic issues that affect everyday life. - Through teacher-led discussion you learn how to analyses, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it. - There are few absolute answers in economics. You develop a critical approach to economic models and methods of enquiry.