Welcome to the Economics Department

Subject Overview
Teaching Aims and Objectives
Course Information
Marking and Assessment
Homework Policy
Examinations
Department Resources
Department Policies

Subject Overview

AS/A Level Economics is a popular option choice. It is a social science which investigates what, how, why and for whom goods and services are produced. The basic economic problem is that there are infinite wants but finite (non-renewable) resources with which to satisfy them. Economics is meant to help us to choose between the competing demands placed on the non-renewable resources that we have. Economics is only offered as an option for Sixth Formers as an AS/A Level subject. There are four units; two are taught in Year 12 and the other two are taught in Year 13. All units are examined; the Examination Board is Edexcel. Advanced Subsidiary GCE 8ECO1 and Advanced GCE 9ECO1. The precise details of our Economics course are outlined in the course information section. This new course will be starting in September 2008.

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Teaching Aims and Objectives

This specification is aimed at giving candidates an exciting and challenging understanding of economic concepts and theories. This is achieved through:

• Critical consideration of current economic issues, problems and institutions that affect everyday life
• Learning to apply economic concepts and theories in a range of contexts and to appreciate their value and limitations in explaining real-world phenomena
• Learning to problem-solve, work with others, communication and use of information technology.

The course also facilitates students with the ability to participate in society as a citizen, producer and consumer.

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Course Information

Unit 1: Competitive Markets – 50% of AS level

This looks at the supply of, and demand of, goods and services and why some markets fail.

Unit 2: Managing the Economy – 50% of AS level.

The economic performance of developed and developing countries – economic growth, inflation, employment, balance of payments, income and wealth.

Unit 3: Business Economics and Economic Efficiency – 40% of A2 level

This unit looks at the nature and competition between firms.

Unit 4: The Global Economy – 60% of A2 level.

The ability to produce any goods (or services) anywhere in the world, using raw materials, components, capital and technology from anywhere, sell the resulting output anywhere, and place the profits anywhere. International trade means the buying and selling of these goods across international boundaries.

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Marking and Assessment

AS

A2

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Homework Policy

Students are expected to support their study regularly with wider reading. They will also be required to learn key ideas, write notes and practice examination questions. They will have a formal data response or essay question at least one per fortnight once they are familiar with the subject. However, they will be expected to do more note-taking and reading in the initial stages. Students must spend a minimum of five hours per week studying the subject independently. It is expected that deadlines for assignments are met.

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Examinations

To date examinations have been taken in January and June in Year 12 and Year 13. However, January examinations are under review with regards to the new course commencing in September 2008.

Please refer to the Edexcel website for support materials. They offer good advice for students. www.edexcel.org.uk

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Department Resources

As this is a new course starting in September 2008, resources are currently under review. Each student should have their own textbook which is recommended by the Department. This is supplemented by past issues of ‘Economics Today’ and various other resources on the school intranet as well as a variety of websites which aid learning. There are Economics textbooks kept in the Library, together with a number of Economics journals. Extra reading is necessary for the development of critical thinking and for the extension of knowledge and understanding of what is happening in the world today.

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Department Policies

Written work needs to meet the published deadlines and should be developed in sufficient detail. In order to aid learning, a data response/essay question is set once a fortnight to give the appropriate examination practice and to enable the student to review topics. Independent learning and research is essential in order to support personal development and ensure academic success. The nature of the subject requires wider reading.

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