Economics

KEY STAGE 4:

Examination Board/Code: AQA (8136)

The activities of consumers, producers and the Government are key to economics.  They shape our lifestyles, inform business strategies and guide government policies.  The actions of these groups determine to what extent an economy is successful.

The course is focused on real-world issues, students are actively encouraged to take an interest in current events to broaden their subject understanding and inform their decision making.  Whilst subject content is primarily focused in a UK context, there are clear links between the UK’s own economic performance and what is happening globally.

Students are encouraged to consider their own views in relation to the trade-off between economic development, and environmental issues. They become aware that economic development sees winners who prosper from this, but other people who experience living in poverty.

As part of the course, students will learn about aspects of microeconomic and macroeconomic activity.  Analysis skills based on interpreting economic data in various formats will be developed.  Students will learn about relationships between different economic areas and how concepts link.

Post 16:

Examination Board / Code: AQA (7136)

Microeconomic and macroeconomic concepts are studied in detail during the A Level course.  Students gain an in-depth look at economic supply and demand models and see how these impact on the price mechanism.  Societal needs from different industry sectors will be explored together with how levels of growth can have wider impacts (e.g. economic development and environmental market failure).

Students will learn that economic markets operate differently based upon levels of competition in an industry, technological innovation levels and the income and wealth levels of customers being targeted.

Industry sectors themes can be connected to overall economic performance in a macroeconomic context.  Students will gain an appreciation of UK economic performance over several years and be able to compare economic conditions and variables in this country with those overseas (i.e. mainland Europe and developing nations).  They will recognise that economic performance in the UK is often influenced by events elsewhere.

The course includes coverage of government policies and alternative policies that can be used to meet the country’s economic objectives.   Students will develop a variety of skills to support their subject knowledge which will enable them to generate, analyse and evaluate economic proposals in a broad range of contexts.

 

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