Name of Faculty: Business and ICT (BICT)
Name of Department: Economics
Members of Staff:
Mr C Johnston
Ms H James
About the Course:
Recession, interest rates, inflation, GDP, unemployment, budget deficit are words that have been thrown around frequently.
What do they all mean to us? How do they impact us?
"Economics is the study of how the economy should share it's resources"
Hence- should about 300million people in Sub Saharan Africa live with less than 1 dollar a day? How should the resources be shared? What should the government do for this? What should all the world leaders do to sort this out?
To what extent would this make a difference in the world? Would it affect you? Would it affect me?
Does buying goods from Primark affect this poverty? Do we cause it then?
As it can be seen Economics relates to the everyday happenings in the world. Economics makes the news relevant and reading the newspaper interesting. It is practical and studying it involves using current affairs and a lot of discussion.
The aim of the course is to enable students to gain an understanding of how our economy works. It involves applying theoretical concepts to issues such as the credit crunch, interest rates, inflation, unemployment, trade, development, pay, production and consumption.
In Year 12 there is an introduction to key micro and macroeconomic concepts.
In Year 13 we take a more in depth look at issues such as development, labour economics and industrial economics.
Five GCSEs at grade C or above.
B’s in English
B in Mathematics
Written examinations are held in June of both Year 12, as well as in January and June in Year 13.
We follow the OCR syllabus.
Unit Title - Markets in Action (F581)
This is a micro-economics unit that ensures candidates gain an appreciation of the allocation of resources, the market model and selected aspects of what makes markets efficient or sees them fail
Unit Title - The National and International Economy (F582)
This unit sees candidates introduced to how levels of macro-economic activity are determined and also investigates key national and international economic indicators, policies and problems.
Unit Title - Transport Economics (F584)
The focus here is on economic concepts and issues which are applied to a variety of transport contexts. Transport industries are considered in terms of models of market structure, particularly with a consideration of contestability.
Unit Title - The Global Economy (F585)
This unit provides the conceptual framework for the understanding, analysis, and evaluation of macro-economic performance in national, regional and global contexts. The key topics are comparative economic performance indicators and policies, trade & integration, development & sustainability and the economics of globalisation.