Economics

Course summary

YEAR 12 COURSE SPECIFICATION Theme 1: 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 COURSE SPECIFICATION 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