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Economics

STATEMENT OF INTENT FOR ECONOMICS

Economics students at Charters Schools will develop an enthusiasm for the subject, appreciating the contribution of economics to the understanding of the wider economic and social environment. They will use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist. Students will develop qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life.

This means:

They understand and apply economic theory to support analysis of current economic problems and issues.
They analyse data critically that enables informed decisions to be made.
They explore current economic controversies and disagreements that exist between economists, appreciating the reasons for this.
They develop a critical approach to economic models and methods of enquiry.
They debate current local, national and global economic issues.

SUMMARY OF CURRICULUM

A Level Economics students follow the AQA specification. The curriculum features two main units which cover micro and macroeconomics. In terms of assessment, there are three externally examined papers; Paper 1 covers microeconomics Paper 2 covers macroeconomics. Paper 3 is an amalgamation of the two main units. The approach taken by the subject is for students to apply economic theory to support analysis of current economic problems and issues, and encourage students to appreciate the interrelationships between micro and macroeconomics. Students develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions. They will build upon their quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important. Question papers use a variety of assessment styles including real-life case studies and data exercises to prepare students for further study and employment.

COURSE DETAILS

Unit 1: Students are introduced to economic methodology and the economic problem, individual decision making, price determination in a competitive market, production, market structures, the labour market, the distribution of income and wealth, the market mechanism and government intervention in markets.

Unit 2: Students are introduced to macroeconomic performance, circular flow of income and aggregate demand and supply, economic growth, unemployment, inflation, financial markets and the international economy.

Unit 3: This unit is an amalgamation of Units 1 and 2 and students are required to analyse the relationships between micro and macroeconomics.

KEY STAGE 5 ENTRY REQUIREMENTS

The minimum entry requirements for Charters Sixth Form can be viewed here

EXAM BOARD: AQA

BE INSPIRED

Take a look around the links below to find our where this exciting subject could lead.

Complementary Subjects

Economics goes well with all subjects. A Level Mathematicss would be a good subject to choose alongside this subject, especially if you are considering doing a degree in Economics. A Level Business also goes well with the subject.

Future Opportunities

Students who choose to study Economics not only gain the skills needed to understand complex markets but come away with strong analytical and problem-solving skills, as well as the business acumen necessary to succeed in the professional world. The subject is a gateway into an array of professions including roles as a; Professional Economist, Statistician, Civil Servant, Stockbroker or Consultant. It can also lead to work within the Banking, Finance, Journalism and Accounting industries as well as so many other opportunities that include Marketing, Quantity Surveying and Teaching.

Be Inspired by Exploring Further

BOOKS

Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist by Kate Raworth

In Doughnut Economics, Oxford academic Kate Raworth identifies seven critical ways in which mainstream economics has led us astray, and sets out a roadmap for bringing humanity into a sweet spot that meets the needs of all within the means of the planet.

23 Things They Don’t Tell You About Capitalism – Ha-Joon Chang

In this revelatory book, Ha-Joon Chang destroys the biggest myths of our times and shows us an alternative view of the world.

The Great Economists: How Their Ideas Can Help Us Today by Linda Yueh

Since the days of Adam Smith, economists have grappled with a series of familiar problems - but often their ideas are hard to digest, before we even try to apply them to today's issues. Linda Yueh is renowned for her combination of erudition, as an accomplished economist herself, and accessibility, as a leading writer and broadcaster in this field; and in The Great Economists she explains the key thoughts of history's greatest economists, how their lives and times affected their ideas, how our lives have been influenced by their work, and how they could help with the policy challenges that we face today.