Economics at Nobel School
Awarding Body: OCR
The course involves students acquiring a broad and in depth knowledge of the UK economy and the markets within it. Two modules are taken in each year. There is no coursework element. The first two modules which are studied during the AS course introduce the basic theories of Economics which are divided into micro and macro elements. The final two modules which make up the A2 course go on to extend and apply these theories; firstly, to the markets involved in the transport industry within the UK and the rest of the world, and finally, to the issues related to The Global Economy.
This course will enable you to:
- develop an interest in the political, business and natural environment around you;
- analyse given information and draw rational, convincing arguments from the information;
- understand and appreciate the many controversies over a government's economic policy ie inflation, monopoly and poverty.
Who would be a successful student of Economics?
This course will appeal to students who:
- have a genuine interest in the world around them;
- enjoy expressing their opinions and justifying their ideas;
- are interested in business and politics;
- enjoy learning in a variety of active ways, including discussions, presentations, essays and independent study;
- wish to understand fellow humans better;
- wish to pursue a career with high financial rewards. A recent survey found Economics graduates to be the second highest earners.
Students will be expected to have 5 GCSEs grades A*-B, including minimum grade B in English and Maths (although individual borderline cases in Maths can be discussed with Mr. Morley or Miss Froud).
Unit 1 - Markets in Action
- Managing scarce resources and choices
- Competitive markets and how they work
- Market failure and government intervention.
Unit 2 - the National and International Economy
- Government policy objectives and the indicators of performance
- The determinants of output, employment and prices
- The application of macro-economic policy instruments
- Aggregate demand and aggregate supply.
Those students who wish only to study AS Level Economics will finish the course after these initial two modules.
Unit 3 - Transport Economics
- Transport trends and the economy
- Market structure, competition and transport
- Resource allocation in transport
- Market failure and the role of government.
Unit 4 - The Global Economy
- Trade and Integration
- Development and sustainability
- Economics of globalisation.
You will find this course useful if you wish to follow a career in the following areas:
- business management;
Extra Curricular Activities
- virtual budget - predict what the Chancellor is going to do;
- pro-share portfolio game - run your own portfolio and make a million!
How to apply
If you want to apply for this course, you will need to contact Nobel School directly.