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Economics at Ringwood School Academy

Course description

On this course students will:

  • develop an understanding of current economic issues, problems and institutions that affect everyday life
  • apply economic concepts and theories in a range of contexts and appreciate their values and limitations in explaining real world phenomena
  • analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of government within it.

Studying economics should enable students to also:

  • develop an interest and enthusiasm for economics and its contribution to the wider economic and social environment
  • develop an enquiring, critical and thoughtful 'economist's mind'
  • practise skills, qualities and attitudes which will equip students for the challenges, opportunities and responsibilities of adult and working life.

Course content

Unit 1: Markets and Market Failure

  • Students will acquire knowledge and understanding of a selection of microeconomic models such as supply and demand and will acquire knowledge and understanding of a selection of microeconomic models and to apply these to current problems and issues.
  • Microeconomic models such as supply and demand, the operation of  the price mechanism and causes of market failure are central to this part of the specification.


Unit 2: The National Economy in a Global Context

  • This section is primarily about macroeconomics. Students will explore recent and current economic behaviour and will learn about and be able to analyse and evaluate, macroeconomic policy.
  • Students will acquire a good knowledge of developments in the UK economy and government policies over the past fifteen years and appreciate the impact of globalisation and membership of the EU on the UK.

 

Unit 3: Individuals, Firms, Markets and Market Failure

  • Students will study models such as perfect competition, monopoly, the operation of the price mechanism and the causes of market failure.
  • Students will demonstrate a realistic understanding of the decisions made by firms and how their behaviour can be affected by the structure and characteristics of the industry in which they operate.
  • Other key models studied in this unit are: the operation of labour  markets, wage determination and causes of inequalities in the  distribution of income and wealth.

Unit 4: The National and International Economy

  • Students will learn a number of models demonstrating how the macroeconomy works and will appreciate that the different economic models provide insights into different aspects of the behaviour the macroeconomy.
  • When using these models students will develop critical awareness of the assumptions upon which they are based and their limitation when they are used to make sense of real world phenomena.
  • Students will learn to propose, analyse and evaluate possible solutions to macroeconomic problems.
  • They will be required to assess the impact and effectiveness of current government policies to deal with these problems, as well as  considering alternative policies and approaches

Entry requirements

  • 3Bs and 3Cs (or equivalent) at GCSE.
  • C grades in English and Maths.

Assessment

AS Level: 2 papers (1 hour 30 minutes each)
A-Level: 3 papers (2 hours each)

Financial information

Students would be advised to purchase a revision book for AS and then A2 Level.

Future opportunities

A Level Economics is an attractive A Level for many degree courses.

Students with an A Level in Economics could look at progression on to University to  study Economics, Finance or PPE with career opportunities in the City, in Banking and
Finance, in Law and in managing business.

How to apply

If you want to apply for this course, you will need to contact Ringwood School Academy directly.

Last updated date: 18 March 2016

Key information

  • Start date: Next September
  • Duration: 2 years

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