Economics Title

Economics

Chloe Gibson

“Lady Margaret School is a thriving environment that offers a phenomenal education.”

Curriculam Button Two

Key Stage 5

What will I Study?
Pupils will be given an introduction to the nature of economics and examine how the price mechanism allocates resources in markets. They will analyse the nature of market failure, its causes and possible policy remedies. Pupils will also be provided with an introduction to the key measures of economics performance, such as inflation, employment and interest rates and will understand the main objectives and instruments of economic policy.

What is important is pupil’s attitude to Mathematics, as they will be required to interpret data and make assumptions from it. Pupils must be prepared to read widely and keep on top of current affairs.

How will I be assessed?
AS Unit 1: Competitive Markets (Exam 1 hour)
AS Unit 2: Managing the Economy (Exam 1 ½ hours)
A2 Unit 3: Business Economics & Economic Efficiency (Exam 1 ½ hours)
AS Unit 4: The Global Economy (Exam 2 hours)

Future opportunities
Most universities will want a combination of GCE Mathematics and GCE Economics before allowing pupils to study for an Economics Honours degree. They may progress on to a straight Economics degree with a focus on theory or an applied Economics course such as environmental economics, labour economics or public sector economics. It can be easily combined with other subjects. Post university employment rates for economists are among the highest of all graduates. An Economics degree enables pupils to gain transferable skills in problem solving, quantitative analysis and communications. They are likely to find employment in finance, banking, insurance, accountancy, management and consultancy. Some may become professional economists.

What are the entry requirements?
The course is suitable for pupils who have an interest in learning how businesses and the government create benefits and economic wealth, and conversely how they may create costs which society has to pay, such as the associated costs with pollution or new house building projects. Pupils must enjoy assessing and presenting the merits of alternative courses of action. Pupils will learn how to analyse data and economic models in order to suggest solutions to real world problems or forecast future trends and must be willing to read the financial press. Pupils will need Mathematics GCSE at B grade, but it is strongly advised they study this subject alongside Mathematics A level

Combinations
Economics combines well with almost any other subject; however, Mathematics, Government and Politics and History make particularly good combinations. Marketing, buying, pattern-cutting, fashion Journalism and retail - of course there are many more.


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