Economics at Dudley Sixth
To provide a good basis for further study of economics or business studies..
Unit 1 - The Operation of Markets and Market Failure Topics include:
- The nature of economic activity covering production of goods and services
- Economic resources and the objectives of individual firms and governments
- The determinants of demand for goods and services and price and income elasticity
- The interrelationships between markets and how markets affect resource allocation
- Division of labour, adding value and output
- Market failure and reasons for government intervention.
- Macroeconomic indicators and the economic cycle
- How demand affects the circular flow of income and price levels
- The determinants of demand and supply • The objectives of government economic policies and how governments work towards economic growth
- How inflation and deflation affect the economy and the impact of demand-pull and cost-push inflation
- Macroeconomic policies including fiscal policy, monetary policy and supply-side policies.
- The objectives of firms and divorce of ownership from control
- The law of diminishing returns and impact of economies and diseconomies of scale
- The impact of technological change on the structure of markets and the impact on business practices
- The concept of monopoly and oligopoly and the impact on firms and demand/supply within a market
- The demand and influences on the labour markets
- The impact of wage restrictions and legislation on the economy
- Public ownership, privatisation and regulation and deregulation of markets.
- The causes of change in the various phases in the economic cycle
- The use and limitations of national income and how unemployment impacts on the economy
- The impact of inflation and deflation on the economy and business
- The role and regulation of financial markets
- The impact of fiscal policies and supply-side policies and how the government attempts to manage the economic situation
- The impact of exchange rate policies and globalisation
- The issue of free trade and the impact of the WTO on business activities
- The concept of the balance of payments and how deficits impact on the economy.
You will require a grade 6 or higher in maths and English, in addition to the general entry requirements.
You will be assessed by a series of external examinations.
Studying at Dudley Sixth is free of charge, but if other costs are a barrier to you studying with us, we aim to help you to access financial support. Examples of support that could be available include:
Students aged 16-18 attending a full-time further education course can apply for help with college related costs to the 16-18 Bursary Fund. More information about the 16-18 Bursary can be found at the website: www.direct.gov.uk/en/EducationAndLearning/ or call 01384 363 555.
Care to Learn
Students aged under 20 needing help with childcare may be eligible for help with costs. More information is available from http://www.dfes.gov.uk/caretolearn or call 0300 303 8610.
The government has introduced a new scheme to provide free meals for eligible learners in Further Education. The purpose of this new scheme is to enable students who claim benefits or live with parents/guardians who claim benefits to access a healthy meal whilst at college without the cost becoming a burden. Call 01384 363 555 for more details.
Learner support fund
If you're 19 before you finish your studies then help is available through the Learner Support Fund (19+) which provides means-tested grants to help students aged 19+ with any additional costs of studying. Call 01384 363 555 for more details.
Free Bus Pass
If you are 16-18, and a student of Dudley Sixth, you will be eligible* for a free bus pass, as long as you live one mile away or further from where we are based, and are not already in receipt of other financial support.
*Students with disabilities who are unable to access public transport may still be able to receive help.
If you have costs other than those mentioned here, which make it difficult for you to start or complete a course, you should still apply for help.
Higher education to study business, economics and management, or employment.
How to apply
You can apply for this course through UCAS Progress. Add this course to your favourites so you can start making an application.