Economics

Assessment

We will be following the Edexcel linear course which will cover four ‘themes’ that will be examined in the summer of 2022. Theme 1: Introduction to markets and market failure This focuses on microeconomic concepts. Pupils will develop an understanding of the nature of economics, how markets work, market failure and government intervention. Theme 2: The UK Economy – performance and policies This focuses on macroeconomic concepts. Pupils will develop an understanding of measures of macroeconomic performance, aggregate demand, aggregate supply, national income, economic growth and macroeconomic objectives and policy. Theme 3: Business behaviour and the labour market This develops the microeconomic concepts learnt in theme 1 and focuses on business economics. Pupils study business objectives, revenues, costs, profits, market structures, the labour market and government intervention. Theme 4: A Global Perspective This develops the macroeconomic concepts introduced in theme 2 and applies these concepts in a global context. Pupils will develop an understanding of international economics, global inequality, development economics, the global financial sector and the role of the state in the macroeconomy.