Economics is taught as part of the social science curriculum. In common with other social science subjects, Economics aims to develop in students a critical and evaluative approach as we strongly believe that knowing how (different) people see the world allows our learners to make sense of the world, ask questions of it and know how to change it.
Economics provides learners with a language that allows them to understand that every decision is an economic decision and that all decisions taken come with a consequence. Learners will be active economic citizens as they will be given the toolkit needed to explore how financial markets, individuals, the public and private sector are all striving to make the best decisions they can; given that there are infinite wants and finite resources. The knowledge that they acquire will allow them to judge the economic choices made by themselves and by other economic agents.
Economics has been recently added to the subjects delivered at Allerton Grange. We follow the Edexcel A specification.
Economics is a very interesting but demanding A-level. You will need to regularly consolidate class learning by reviewing your notes, creating revision resources and flashcards or by watching videos and reading articles. To access the higher marks you will need to use real life examples and situations, you need to keep a scrap book of news articles relating to economic stories from the UK and around the world.
Economics fits well with other social sciences, such as Sociology, Psychology, History or Politics, as well as Humanities, such as Geography and Religious Studies.
The course is a 2 Year linear A level course which is formally examined at the end of Year 13. Students will, however, sit a mock examination to determine the suitability to continue to Year 13.
Autumn Term – Introduction to markets and market failure.
In common with all Social Science subjects, the course will begin with Core Social Science Knowledge around Society, Economics, Politics and Law.
We then move on to:
• Understanding what the economic problem is, using the theory of scarcity.
• Look at different economic structures.
• Price mechanism – drawing supply and demand diagrams and analysing changing equilibria.
• Market failure and government policies to correct or remove the failure.
Spring Term – The UK economy – performance and management.
• Measures of economic performance.
• Investigate the performance of the UK over the last 10 years.
• Economic management to achieve the objectives.
• Understand the response to the Great Depression and the Financial Crisis by the US and the UK governments.
• Collate the micro and macro knowledge.
• Revision for the pre-public examinations.
• Start of Year 13 work.
More information can be found at:
Regular catch up sessions are held in the pod every Tuesday and Thursday. They are optional and voluntary for students, however, students may be directed to the sessions if their progress is below target.
A minimum of five subjects at grade 4 (or above) including English Language at grade 5 (or above) and Maths at grade 5 (or above).
Economics provides you with good analytical thinking skills which are sought after by universities and employers.