Economics IB Standard Level at Parkside Sixth
Economics is a dynamic applied social science
which helps you to understand what is happening
in the UK and world economy. It deals with such
questions as: Why should we put a tax on sugar?
How can we achieve economic growth without
damaging the environment? Should we be part
of the European Union or the Eurozone? How is it
possible to improve the quality of life in developing
Economics uses scientific methodologies
which are applied to real-world problems facing
consumers, producers and governments. Previous
students have gone on to study Economics at top
universities as well as to study degrees in law and
business. A good level of mathematics is required
to be able to understand the mathematical concepts
and theories in the higher-level paper.
IB Economics is made up of
four sections: microeconomics, macroeconomics,
international economics and development
economics. Section 1 focuses on competitive
markets – how prices are determined, demand
and supply, elasticity, government intervention,
market failure, and theory of the firm and market
structures. In section 2, students will learn about
unemployment, inflation, growth, the level of overall
economic activity, aggregate demand and aggregate
supply, macroeconomic objectives, fiscal policy,
monetary policy, and supply-side policies. Section
3 emphasises cutting-edge economic issues from
international perspectives. The unit will cover
areas such as international trade, exchange rates,
the balance of payments, economic integration,
and terms of trade. The final section deals with
economic variables with respect to the development
process in developing countries – the topics include:
economic development, the role of domestic
factors, the role of international trade, the role of
foreign direct investment, the roles of foreign aid
and multilateral development assistance, the role of
international debt and the balance between markets
and government intervention.
Five GCSEs or equivalent at grade C or above, including English and Maths.
IB students take six subjects in total which consists of three subjects at Higher level and three at Standard level.
For Higher level subjects, you should have GCSEs (or equivalent) at grade B or above in those subjects or related ones. We recommend Higher level Maths, Chemistry and Physics only for those with a grade A or above in GCSE Maths and Science.
Further information about entry requirements can be found in our prospectus or on the website. Students also have timetabled sessions for Theory of Knowledge.
If you are applying for the International Baccalaureate, you need to choose six subjects, from a range of different subject areas. For information can be found in our prospectus.
A paper copy of the prospectus can be obtained by phoning the Sixth Form Administrator on 01223 712600.
(20%) Students will produce a portfolio of three
commentaries on newspaper articles. Maximum 750
External assessment (80%)
Paper 1: (1 hour and 30 minutes): Micro and macro
economics. Essay paper (30%)
Paper 2: (1 hour and 30 minutes): International and
development economics. Data response paper (30%)
Paper 3: (1 hour): Higher Level extension paper (20%)
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.