Year 12: Theme 1: Introduction to markets and market failure ➢ Supply and demand ➢ The economic problem ➢ Government intervention in markets e.g. taxes and subsidies ➢ Examples of market failure such as public goods and externalities Theme 2: The UK economy performance and policies ➢ Aggregate demand and supply ➢ Inflation ➢ Unemployment ➢ The balance of payments ➢ Fiscal policy ➢ Monetary policy ➢ Conflicts between objectives and policies Year 13: Theme 3: Business behaviour and the labour market ➢ The objectives of firms ➢ The growth of firms ➢ Costs, revenue and profit ➢ Market structures ➢ The labour market Theme 4: A Global Perspective ➢ International economics ➢ The financial sector ➢ Poverty and inequality ➢ Emerging and developing economies ➢ Role of the state in the macroeconomy
9 - 4 grades in 5 GCSE subjects (generally including Maths & English*) including 9 - 6 in at least 3 GCSE subjects. At least GCSE grade 6 in Mathematics and grade 5 in an English GCSE plus grade 6 in a Humanity subject. For continuation to Year 13 grades in Year 12 Economics needs to demonstrate potential for A Level success.
Year 12: The exam is based on two 1½ hour papers (covering themes 1 and 2). Year 13: The exam is based on three 2-hour papers (covering all four themes). The papers consist of a combination of multiple choice, short answer questions, and extended open-response questions – and make use of case studies.
About Education Provider
| Region | North East |
| Local Authority | County Durham |
| Ofsted Rating | Outstanding |
| Gender Type | Co-Educational |
| Address | Crossgate Moor, Durham, DH1 4SU |
Year 12: Theme 1: Introduction to markets and market failure ➢ Supply and demand ➢ The economic problem ➢ Government intervention in markets e.g. taxes and subsidies ➢ Examples of market failure such as public goods and externalities Theme 2: The UK economy performance and policies ➢ Aggregate demand and supply ➢ Inflation ➢ Unemployment ➢ The balance of payments ➢ Fiscal policy ➢ Monetary policy ➢ Conflicts between objectives and policies Year 13: Theme 3: Business behaviour and the labour market ➢ The objectives of firms ➢ The growth of firms ➢ Costs, revenue and profit ➢ Market structures ➢ The labour market Theme 4: A Global Perspective ➢ International economics ➢ The financial sector ➢ Poverty and inequality ➢ Emerging and developing economies ➢ Role of the state in the macroeconomy
9 - 4 grades in 5 GCSE subjects (generally including Maths & English*) including 9 - 6 in at least 3 GCSE subjects. At least GCSE grade 6 in Mathematics and grade 5 in an English GCSE plus grade 6 in a Humanity subject. For continuation to Year 13 grades in Year 12 Economics needs to demonstrate potential for A Level success.
Year 12: The exam is based on two 1½ hour papers (covering themes 1 and 2). Year 13: The exam is based on three 2-hour papers (covering all four themes). The papers consist of a combination of multiple choice, short answer questions, and extended open-response questions – and make use of case studies.