Economics

Course summary

The Economics course is linear and will be examined at the end of two years of study. It is split into two clear parts Microeconomics and Macroeconomics. Lower Sixth: Introduction to Microeconomics: This topic provides an introduction into the nature of Economics. It uses economic theory to ask important microeconomic questions. For example: • “Why is Wayne Rooney paid so much?” • “How can the government place so much tax on fuel?” • “What happens when oil resources run out?” • “Should the government let people drink alcohol?” Introduction to Macroeconomics: This topic provides an introduction to the key measures of macroeconomic performance and the main objectives and instruments of economic policy. The questions we ask this time are about the whole economy. For example: • “Why has the Bank of England slashed interest rates?” • “What is Quantitative Easing?” • “To tax or not to tax?” Upper Sixth: Complex Microeconomics and Macroeconomics: In the Upper Sixth we look to develop more detailed knowledge and skills and apply them in a wider global context. It will deal with important international issues like the EU, the expansion of China and India, pollution, the credit crunch, trade and inequality in developing countries.