Economics

Teaching Staff and Responsibilities

Mr Sterling: Subject Leader for Business and Economics

Mrs Lewis: Teacher of Economics

Mr Bright: Teacher of Economics

KS5/A Level (Y12-13)

How do we organise teaching groups at KS5?

At KS5, classes are taught in option groups which are all mixed ability.

Which A Level specification do we prepare pupils for?

Pearson A Level Economics B. Here is a link to the specification for more detailed information:

https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-b-2015.html

What will my daughter learn at KS5?

In developing our Economics curriculum, we want to ensure pupils are fully aware of the power of economics to permeate all aspects of modern-day life. Its principles provide students with analytical tools to interpret the world around them and to highlight all of the great challenges that face humanity – how to grow economies, tackle unemployment, grapple with environmental issues and explore economic issues such as: inequality, immigration, globalisation and how we should pay for public services. The nature of the subject necessitates developing discussion of the potential effects of current issues such as Brexit and how it affects not only our economy, but our daily lives and future opportunities.

In Year 12, we cover Markets, Consumers and Firms and The Wider Economic Environment. Students develop an understanding of key economic and business concepts including scarcity, choice, and potential conflicts; the role of enterprise in the economy; how markets operate; credit, market failure and government intervention; and how businesses generate revenue, costs, profits, and manage cash. We also explore business growth, competitive advantage, and the behaviour of firms and consumers, including elasticities of demand. The course develops knowledge of productive efficiency, the global economy, the economic cycle, and an introduction to macroeconomic policy.

In Year 13, we study Globalisation and The Economic Environment and Firms. Students develop an understanding of globalisation, the economic factors influencing business expansion, and how globalisation affects international companies as well as local and national economies. Topics also include global labour markets, inequality, and redistribution. We explore competition and market power, examining how these influence market outcomes and contribute to market failure across the economy. Students also study macroeconomic policies, their effects on firms and individuals, and the role of risk and the financial sector in shaping economic activity.

The Examination

A Level Economics B is assessed through three written exams, all taken in May/June. Paper 1 (Markets and How They Work) and Paper 2 (Competing in the Global Economy) each last two hours, are worth 35% of the qualification, and assess Themes 1–4 through data response and extended open-response questions. Paper 3 (The Economic Environment and Business) is a two-hour synoptic exam worth 30%, based on a pre-released context exploring an economy, market, or issue, requiring students to apply knowledge from all four themes.