Economics and Business Advanced Level at Budehaven Community School
- Develop an interest in, and enthusiasm for, the subject
- Appreciate the contribution of economics to the understanding of the wider economic and social environment
- Develop and understanding of a range of concepts and an ability to use those concepts in a variety of different contexts
- Use an enquiring, critical and thoughtful approach to the study of economics and develop an ability to think as an economist
- Understand that economic behaviour can be studies from a range of perspectives
- Develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.
A wide variety of learning styles are used to engage and enthuse students, including the use of interactive case studies, frequent use of current news stories, problem solving, presentations, group work, role play, research, and investigative work with an emphasis on learning and practising the skills relevant to the economics and business world.
Students study four themes over the two year course which are assessed through three papers all sat at the end of the course.
Markets, consumers and firms. This theme explores the ways in which consumers make choices and entrepreneurs create desirable products. This includes looking at business objectives, the role of enterprise and entrepreneurs, how the economic environment can impact on businesses, demand and supply, establishing consumer wants, marketing, financing a business, government intervention, basic business finance.
The wider economic environment This theme explores how firms can become more competitive. It introduces them to the wider international and economic environment in which firms operate. It includes; business growth, how small firms compete, the digital economy, price, production, globalisation, developing, emerging and developed economies, international trade and the economic cycle.
The global economy This theme explores the international economic environment. It includes: trade and growth, use of trading blocs (in particular the role of the EU), barriers to trade, exchange rates, choosing where to locate, role of multinationals, impact of multinationals, ethics of globalisation, poverty and inequality.
Making markets work This theme explores how governments could improve the functioning of markets and the economy. It includes; monopolies and oligopolies, regulation, social costs and benefits, role of the financial sector, role of the Bank of England and the Global Financial Crisis.
It is not necessary to have any previous experience in Business Studies or Economics. The skills required are nevertheless wide ranging, including evaluative and statistical analysis. A grade C or above in both English and Maths at GCSE is required
Paper 1: 100 marks, 2 hours, 35% of qualification Questions from theme 1 and 4
Paper 2: 100 marks, 2 hours, 35% of qualification Questions from theme 2 and 3
Paper 3: pre-released case study, 100 marks, 2 hours, 30% of qualification Questions from all themes
This qualification helps students go on to degrees in economic theory or applied economics such as environmental economics, labour economics or monetary economics. They may also go on to study degrees in Business Economics, mathematical economics or any business related degree such as Business Studies, Marketing, Accounting etc
Alternatively a student may wish to go straight into a career. Economics and business is particularly relevant to Economics, Finance, Banking, insurance, Accountancy, management and consultancy or to becoming a professional economist. Although it is a useful and relevant qualification in whatever future career the student chooses.
How to apply
If you want to apply for this course, you will need to contact Budehaven Community School directly.