Economics

Course summary

Students are introduced to economics through building knowledge of core microeconomic and macroeconomic concepts, and by investigating economic theory through real-world businesses and the environments in which they operate. Breadth and depth of knowledge and understanding along with applications to more complex concepts and models are developed in the second year of study. Main Themes: Microeconomics – market failure, government failure, labor markets, market structures, business objectives, externalities, behavioral economics Macroeconomics – inflation, growth, unemployment, balance of payments, financial markets, economic development, international trade. Economics is a theoretical subject focusing on government and business decisions as to how they allocate scarce resources both at national and global levels. This course is desirable for those wishing to study a degree at a Russell Group university or those wanting to read Economics, Politics, World Development, and International Relations. This is a very academically rigorous subject and for this reason, is only suitable for the strongest candidates. This course offers students the opportunity to learn about the economic and business issues in the world today and to explore relevant topics within current affairs. It has cross-curricular links with subjects such as Geography, Mathematics, Sociology and Business. There is Economics Society is available to Sixth form students. These opportunities will heighten the use of theoretical approaches taught in the classroom and give more understanding as to how they are incorporated into the real world.