Economics A Level at Salisbury 6th Form College
Economics gives you an excellent understanding of what is happening in the business and financial world around you. How will a rise in interest rates affect your monthly spending? What can your business do to flourish even in a recession? Why do we have such a huge – and increasing – national debt when the government insists that it has cut back on spending? Economics helps you make sense of political and business decisions, and understanding the implications of trading with foreign companies.
Economics is contemporary and rooted in the real world, and we will look at topical news events and discuss and debate their consequences as well as learning about economic theory and identifying it in the economic environment we live in.
Lessons involve lots of discussion and student input – student examples, ideas and arguments and debate and questioning is actively encouraged. Support from your subject teacher is always available, and small group or one to one sessions run where necessary to support your learning. We also use activities and educational games to gain an understanding of economic concepts and there is lots of laughter along the way!
Trips and visits opportunities
A residential trip to either London or another major European city will take place at some point during the two-year course, including visits to institutions such as the Bank of England, the Metal Exchange and Lloyds of London, plus social activities such as a trip on the London Eye or taking in a West End show.
Economics is split into two distinct areas – microeconomics, which is the study of industries and individual firms, and macroeconomics, which covers the national economy and the way in which economic decisions impact on businesses.
In microeconomics in Year 12 you will learn about supply and demand and how individual markets work, the actions governments may take to influence these markets and the way in which markets react to external factors. You will consider issues such as the effect of the housing boom on house prices, how the national minimum wage affects markets and how the price of a litre of petrol is determined.
In Year 12 macroeconomics we consider national economic issues such as how interest rates and inflation affect each other and the businesses and individuals within the economy, what causes recessions and the policies available to governments to address slowdowns or booms in the economy and how and why the government tries to reduce unemployment levels.
In Year 13, we consider the economics of businesses and globalisation, including poverty and the Eurozone.
Theme 1 – Introduction to markets and market failure (Year 1)
- Nature of economics
- How markets work
- Market failure
- Government intervention
Theme 2 – The UK economy – performance and policies (Year 1)
- Measures of economic performance
- Aggregate demand and aggregate supply
- National income
- Economic growth
- Macroeconomic objectives and policies
Theme 3 – Business behaviour and the labour market (Year 2)
- Business growth
- Business objectives
- Revenues, costs and profits
- Market structures
- Labour market
- Government intervention
Theme 4 – A global perspective (Year 2)
- International economics
- Poverty and inequality
- Emerging and developing economies
- The financial sector
- Role of the state in the macroeconomy
To study this course you will need grade 5 or above in GCSE Maths and English Language. There is no requirement to have studied Economics at GCSE.
Economics is well regarded as an academic subject by all universities, and will prepare you will well for university courses in any subject, but particularly those which are business or economics related.
The course prepares you well for managing businesses and households in ‘the real world’, by understanding the impact that economic policies make have, and is therefore valued by employers in many different areas. Economics is particularly useful if you are potentially seeking a career in financial services or based in the City of London.
What our students think
“I started this year with no economic knowledge, but was still accepted on to the course. I’ve really enjoyed studying Economics this year and am now considering it as a university prospect. Since the beginning of the year, I have begun to understand more about the choices people make within the economy and how it could affect others. The most interesting topic to study was reviewing the Chancellor’s budget and how it affected the different parts of the economy. I’ve really enjoyed my year studying economics and I advise anyone to apply, you won’t regret it!”
Ally, previously Bishop Wordsworth’s School
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.