Why do we learn economics?
Economics is the study of choices and how governments/consumers/firms make decisions given there only have limited resources. The course is split into two sections microeconomics (smaller scale) and macroeconomics (larger scale). In the first year we consider questions such as is growth always a good thing and how did the UK respond to the global financial crisis? In the second year we explore broader topics such as globalisation, poverty/inequality, monopoly/oligopoly and the labour market.
Our approach
The course is split equally between micro and macro economics, 3 lessons per week. Students are taught each topic through the lense of an inquiry question which allows for debate and discussion. Each inquiry question is linked to an extended piece of reading, stretching students beyond the syllabus. Students spend time developing their skills in economics through the weekly use of article readings, essay writing and numerical question. Students have time to debate topical issues in the class and give presentations to prepare themselves for the wider world of work. Students regularly participate in lectures and visits outside the classroom, such as a visit to OFCOM and the Bank of England.
Year 12
| Autumn 1 | Autumn 2 |
|---|---|
Micro: Nature of Economics How markets work - Demand and Supply Macro: Measures of economic performance Aggregate Demand and Aggregate Supply | Micro: Market failure Specialisation and the Division of Labour Macro: National Income The Multiplier Effect Business Cycles |
| Spring 1 | Spring 2 |
|---|---|
Micro: Government Intervention Macro: Fiscal Policy Monetary Policy | Micro: Government Failure Economies of Scale Macro: Supply-Side Policy Globalisation |
| Summer 1 | Summer 2 |
|---|---|
Micro: Cost/ Revenue/ Profit Business Objectives and Business growth Macro: Globalisation Balance of Payments | Revision |
Year 13
| Autumn 1 | Autumn 2 |
|---|---|
Micro: Perfectly Competitive Market Monopoly Monopolistic Competition Macro: Exchange Rates Competitiveness Free Trade Protectionism | Micro: Monopsony Oligopoly Labour Markets Macro: Poverty Inequality |
| Spring 1 | Spring 2 |
|---|---|
Micro: Trade Unions and government intervention in labour market Macro: Emerging and developing economies Financial Markets | Micro: Competition Policy Macro The Role of State in macro economy |
| Summer 1 | Summer 2 |
|---|---|
| Revision | Revision |