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Economics

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.

Course content
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.

More information can be found at
https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html

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.

Year 13
Students continue to examine the key theories in economics, through studying two new topics.

Autumn Term
• Labour economics – discussing wage determination.
• Arguments for and against government intervention.
• Analysis of TU power and minimum wage.
• Business economies – looking at efficiency and levels of choice in different market structures.

Spring Term
• Globalisation – focus on the developments of the last 50 years.
• Discussing the merits and drawbacks of free trade and trade restrictions.
• Emerging and developing economies – discussing the interdependence between economies.
• Financial markets and the role of the central bank.

Entry Requirements:
A good range of GCSEs at grades 9 to 4, including English and Maths. A grade of 5 or above in English Language is required for this course.

Future Opportunities:
Economics provides you with good analytical thinking skills which are sought after by universities and employers.

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