The more traditional universities rate this subject particularly highly and Economics also complements a range of Science, Arts and Humanities subjects. It is also of great value for anyone considering a career in business/finance /accounting. Component 1: Introduction to markets and market failure This component focuses on microeconomic concepts. Students will develop an understanding of the nature of economics, how markets work, market failure and government intervention. Component 2: The UK economy: performance and policies This component focuses on macroeconomic concepts. Students will develop an understanding of the measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, macroeconomic objectives and policy. Component 3: Business behaviour and the labour market This component develops the microeconomic concepts introduced in Component 1 and focuses on business economics. Students will develop an understanding of: business growth, business objectives, revenues, costs and profits, market structures, the labour market and government intervention. Component 4: A global perspective This component develops the macroeconomic concepts introduced in Component 2 and applies these concepts in a global context. Students will develop an understanding of: international economics, poverty and inequality, emerging and developing economies, the financial sector, and lastly the role of the state in the macro-economy.
- Grade 6 in GCSE Maths, GCSE English Language or English Literature. - Grade 6-6 in GCSE Combined Science (or an average of a 6 in triple science).
Paper 1: Will assess microeconomics and questions will be drawn from Components 1 and 3. Paper 2: Will assess macroeconomics and questions will be drawn from Components 2 and 4. Paper 3: Will assess content across all four components.
About Education Provider
| Region | West Midlands |
| Local Authority | Worcestershire |
| Ofsted Rating | Good |
| Gender Type | Co-Educational |
| Address | Charford Road, Bromsgrove, B60 3NL |
The more traditional universities rate this subject particularly highly and Economics also complements a range of Science, Arts and Humanities subjects. It is also of great value for anyone considering a career in business/finance /accounting. Component 1: Introduction to markets and market failure This component focuses on microeconomic concepts. Students will develop an understanding of the nature of economics, how markets work, market failure and government intervention. Component 2: The UK economy: performance and policies This component focuses on macroeconomic concepts. Students will develop an understanding of the measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, macroeconomic objectives and policy. Component 3: Business behaviour and the labour market This component develops the microeconomic concepts introduced in Component 1 and focuses on business economics. Students will develop an understanding of: business growth, business objectives, revenues, costs and profits, market structures, the labour market and government intervention. Component 4: A global perspective This component develops the macroeconomic concepts introduced in Component 2 and applies these concepts in a global context. Students will develop an understanding of: international economics, poverty and inequality, emerging and developing economies, the financial sector, and lastly the role of the state in the macro-economy.
- Grade 6 in GCSE Maths, GCSE English Language or English Literature. - Grade 6-6 in GCSE Combined Science (or an average of a 6 in triple science).
Paper 1: Will assess microeconomics and questions will be drawn from Components 1 and 3. Paper 2: Will assess macroeconomics and questions will be drawn from Components 2 and 4. Paper 3: Will assess content across all four components.