Economics is the study of how individuals, industries and businesses allocate resources, exploring historical and contemporary events as well as potential future challenges. Regardless of ambition in terms of career, many students find economics of benefit in terms of understanding the economic world; from understanding the concepts of inflation to the economic impact of unemployment. A far-reaching discipline, economics is growing in popularity both nationally and within Woodbridge School. The course is organised around the traditional distinction between microeconomics (the study of firms, individuals, and their interaction in markets) and macroeconomics (the study of the economy in aggregate looking at growth, unemployment, inflation, international trade and government policy in relation to these areas). Economics will give you an excellent understanding of how economies allocate resources to meet the needs and wants of people in the economy. During the course, students will develop an understanding of the economic problems which face individuals, firms and governments on a local, national, and global level; as well as the alternative ways these problems can be resolved. Studying economics involves consideration, debate and communication of students’ knowledge of and response to many questions and topics including: Microeconomics: » Price determination and the role of markets » Labour markets and the study of income and wealth inequality » Market failure and government intervention » The theory of the firm, competition, and monopoly Macroeconomics: » Economic growth » Unemployment and Inflation » International trade and protectionism » Fiscal, monetary, and supply-side policies » The role of the financial sector
There are no formal requirements for the study of economics at Woodbridge, nor is any previous study of the subject (or business studies GCSE) a requirement. However, it is recommended that students have at least grade 7 GCSE mathematics, alongside a real curiosity about the world.
Exams take place at the end of the two-year course. There are three examinations each of two hours in duration and with equal percentage of marks, all are compulsory. Each paper has a combination of data response, essay questions, multiple choice questions, and calculations. The theme is the application of economic theory through a variety of real-world contexts.
About Education Provider
| Region | East of England |
| Local Authority | Suffolk |
| Ofsted Rating | |
| Gender Type | Co-Educational |
| ISI Report | View Report |
| Boarding Fee | £29,514 - £38,490 |
| Sixth Form Fee | Day £18,975 - £20,538 |
| Address | Burkitt Road, Woodbridge, IP12 4JH |
Economics is the study of how individuals, industries and businesses allocate resources, exploring historical and contemporary events as well as potential future challenges. Regardless of ambition in terms of career, many students find economics of benefit in terms of understanding the economic world; from understanding the concepts of inflation to the economic impact of unemployment. A far-reaching discipline, economics is growing in popularity both nationally and within Woodbridge School. The course is organised around the traditional distinction between microeconomics (the study of firms, individuals, and their interaction in markets) and macroeconomics (the study of the economy in aggregate looking at growth, unemployment, inflation, international trade and government policy in relation to these areas). Economics will give you an excellent understanding of how economies allocate resources to meet the needs and wants of people in the economy. During the course, students will develop an understanding of the economic problems which face individuals, firms and governments on a local, national, and global level; as well as the alternative ways these problems can be resolved. Studying economics involves consideration, debate and communication of students’ knowledge of and response to many questions and topics including: Microeconomics: » Price determination and the role of markets » Labour markets and the study of income and wealth inequality » Market failure and government intervention » The theory of the firm, competition, and monopoly Macroeconomics: » Economic growth » Unemployment and Inflation » International trade and protectionism » Fiscal, monetary, and supply-side policies » The role of the financial sector
There are no formal requirements for the study of economics at Woodbridge, nor is any previous study of the subject (or business studies GCSE) a requirement. However, it is recommended that students have at least grade 7 GCSE mathematics, alongside a real curiosity about the world.
Exams take place at the end of the two-year course. There are three examinations each of two hours in duration and with equal percentage of marks, all are compulsory. Each paper has a combination of data response, essay questions, multiple choice questions, and calculations. The theme is the application of economic theory through a variety of real-world contexts.