Economics

Subject Intent: Why Economics?

Economics affects people on a daily basis, from the choice of products that we buy, the prices we pay for goods, and the way in which we trade and interact with other countries. Our economics curriculum enables students to think critically about the world around  them and the decisions made by policymakers, helping to develop both their analytical and evaluative skills. The course enables students to develop their ability to make informed judgements and to communicate their findings effectively. Students will gain a greater insight into the economic changes seen in the area in which they live over the past 50 years, including the collapse of the industry and its impacts on the local area and how employment opportunities have changed since. Economics is seen on a daily basis by students without often realising it. Once they start studying, they begin to review their own choices and opportunities.

Why should I study this subject?

There has never been a more exciting time to study Economics. Changes in the world economy affect our lives on a daily basis. You will learn everything from what determines the price of goods and services to why the average standards of living vary so widely within and between countries. Economics explains how the decisions of governments, businesses and individuals are made and how these have an impact on our lives. At a macro level you will focus on issues such as the global financial crisis, environmental change and the impact of globalisation. At the micro level you will study how and why we make spending decisions; how businesses compete to make profits and how government policies can influence our behaviour. Economics is a rewarding subject to study. It will challenge you to think differently and will change the way you understand the world around you.

What will I study?

• Micro economics
• Individuals, firms and market behaviour
• How economic decisions are made • Prices in competitive markets
• Business economics
• Behavioural economics
• Distribution of income and wealth: poverty and inequality
• Government intervention into markets Macro economics
• Developments in the national and international economy
• Inflation, growth and unemployment
• Macroeconomic management
• Banking and financial markets
• Economic growth and development
• Living standards and the quality of life
• The challenges of globalisation
• The UK and the European economy

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I enjoy learning how the world works and the way economies interact. It is interesting to draw diagrams to show certain theories and principles and the effect they have on the economy.

Callum Taylor, South Axholme Academy

What are the entry requirements?
Please refer to our Course Specific Entry Requirements table here