Economics is offered at A level. Lessons are structured in a way that students are able to quickly and competently understand the work and expectations of the course. We follow the Edexcel specification for A level Economics. We aim to educate students in the wider economic world, and inspire them through the study of real-world economic situations. The course has been designed to engage students through topics that are relevant in today’s society from supply and demand to poverty to Covid 19.
The Economics course aims to develop
- Problem solving skills
- Ability to apply knowledge learnt to real life scenarios
- Ability to critically analyse
- Ability to make informed decisions
- Handling complex data
- Commercial and cultural awareness
All skills that are needed for further study and employment.
Key Stage 5
A level Economics is divided essentially into two parts: Microeconomics and Macroeconomics which are taught across 4 units. In Year 12, students begin with studying microeconomics looking into markets and market failure, examining the nature of economics, how markets work, market failure, and government intervention to address market failure. They follow this with an introduction to macroeconomics – the theory of the whole economy. Within this, students learn about measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, economic growth, and macroeconomic objectives and policy. It also considers the trade-offs that governments face as they try to resolve problems such as the economic impacts of Covid-19.
In Year 13, students study business behaviour and the labour market, looking closely at business growth, business objectives, revenues, costs and profits, market structures, labour market, and government intervention. They then conclude with a study of macroeconomics on a global scale, developing students’ understanding of international economics, poverty and inequality, emerging and developing economies, the financial sector, and the role of the state in the macroeconomy. Students critically analyse how globalisation is affecting the UK economy.
The course is assessed through three external exams in the summer of year 13.
Paper one covers themes 1 and 3.
Paper two covers theme 2 and 4.
Paper three covers all 4 themes.
Learning beyond the classroom
We follow the Young Enterprise Company Programme. Enterprise education provides young people with the skills, competencies and mindset to make the most of everyday opportunities and challenges. Being enterprising is something which can be applied to all aspects of life and work – identifying and initiating opportunities as well as adapting your response to situations. Students who join Young Enterprise are expected to set up a company, make/source products for sale at Christmas and local markets in Hertfordshire. They then conclude the programme with a presentation of their business. In addition to this throughout the year they will compete in various business related competitions.