Economics

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Head of Faculty

 

Vision

To ignite a passion for Economics and discover how Economics fits in with our everyday lives

Disciplinary Concepts

  • Similarities and Differences
  • Analysing – building chains of analysis
  • Evaluation of concepts
  • Short run/Long run impacts
  • Diagrams to represent change

Big Questions

  • What is Economics?
  • What is micro/macroeconomics?
  • How does Economics affect my life?
  • How can Economics help to understand the world in which we live?
  • Should governments try to manipulate/influence our choices?
  • What makes a ‘good’ Economy?

Curriculum Content

Year 12 AQA A Level

Micro economics:

  • Economic methodology and the economic problem
  • Price determination in a competitive market
  • Production, costs and revenue
  • Competitive and concentrated markets
  • The market mechanism, market failure and government intervention in markets

Macroeconomics:

  • The measurement of macroeconomic performance
  • How the macro economy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Macroeconomic policy

Year 13

Micro economics:

  • Individual economic decision making
  • Marginal, average and total revenue
  • Perfect competition, imperfectly competitive markets and monopoly
  • The labour market
  • The distribution of income and wealth: poverty and inequality

Macroeconomics:

  • Financial markets and monetary policy
  • Fiscal policy and supply-side policies
  • The international economy