Studying Economics will help you understand why prices fluctuate, where your taxes go, how government legislation can push people to change their spending habits (or not), why some companies dominate their market, how global or societal changes like climate change and ageing can have an impact on a country’s economy, why people fight for resources and why certain economies grow faster than others. You will also learn how to analyse complex issues, create strategies, monitor the political climate, understand commercial incentives, problem-solve, interpret statistics and data, explain your ideas clearly and adapt quickly to changing circumstances – all highly desirable and transferable skills. Keeping up-to-date with current affairs is essential for Economics and we expect students to read newspapers and magazines such as the Economist and watch programmes such as Newsnight as often as they can. Students must learn to articulate their ideas and distinguish between facts, bias and opinion. We also teach them how to put forward persuasive arguments and examine economic issues from multiple perspectives. This course covers micro-economics (how individual people and businesses behave and make decisions about resource allocation and the price of goods and services) and macro-economics (the bigger picture: whole economies, entire industries and global factors). A-level students will cover themes 1–4, two of which are microeconomics and two on macroeconomics. At the end of the course, students will sit three examinations. AS level students cover themes 1 and 2, one of which is based on microeconomics and another on macroeconomics. At the end of the course, students sit two examinations. Theme 1: Introduction to markets and market failure This micro-economics theme introduces you to the reality that demand and supply of goods, services and labour are affected by people’s unpredictability. You will also discover that markets are not perfect and can make societies better or worse off: certain businesses may hog the marketplace keeping the price of your software high; you may be unable to buy locally grown fruit because it is all being exported; your local hospital may not have the provision to do the operation you need, but you can buy cheap booze and cigarettes; and the fumes from the car you bought are creating pollution and affecting others’ health. You will then examine how local organisations and governments try to correct these market ‘failures’ and question why their actions do not always succeed. Theme 2: The UK economy – performance and policies This macro-economics theme takes all of the individual markets put together and investigates how they affect households, businesses and government within the UK. You will need to keep up to date with current affairs issues – like unemployment, government legislation and trade relations with other countries – and examine how specific government policies aim to achieve sustainable economic growth, low and stable inflation rates and full employment. Theme 3: Business behaviour and the labour market Here you will examine how businesses work (micro-economics) in different markets by applying theory and crunching numbers: you will analyse the revenue, cost and profit schedules of firms and how these may or may not equate to an efficient allocation of resources. You will also take a look at ways governments attempt to protect consumers’ rights and how they encourage firms to be more efficient. Theme 4: A Global Perspective What if companies could sue governments for decisions they believe jeopardise their profits? How would this affect governments’ ability to protect people, the environment or services? Who makes international trade rules? In this macro-economic theme, you will examine international trade patterns and relations, and the governing role of institutions like the World Trade Organization and the International Monetary Fund. You will also consider the (human and economic) impact of global issues such as poverty, inequality and the environment and what policies governments might use to tackle these problems.
Students who continue to Year 12 at Ashbourne are expected to be able to gain a minimum of 6 grades 6s (or equivalent) for their GCSE results and must have a determination to work towards their academic potential.
About Education Provider
| Region | London |
| Local Authority | Kensington and Chelsea |
| Ofsted Rating | Outstanding |
| Gender Type | Co-Educational |
| ISI Report | View Report |
| Boarding Fee | Unknown |
| Sixth Form Fee | £32,250 - £34,500 |
| Address | 17 Old Court Place, Kensington, London, W8 4PL |
Studying Economics will help you understand why prices fluctuate, where your taxes go, how government legislation can push people to change their spending habits (or not), why some companies dominate their market, how global or societal changes like climate change and ageing can have an impact on a country’s economy, why people fight for resources and why certain economies grow faster than others. You will also learn how to analyse complex issues, create strategies, monitor the political climate, understand commercial incentives, problem-solve, interpret statistics and data, explain your ideas clearly and adapt quickly to changing circumstances – all highly desirable and transferable skills. Keeping up-to-date with current affairs is essential for Economics and we expect students to read newspapers and magazines such as the Economist and watch programmes such as Newsnight as often as they can. Students must learn to articulate their ideas and distinguish between facts, bias and opinion. We also teach them how to put forward persuasive arguments and examine economic issues from multiple perspectives. This course covers micro-economics (how individual people and businesses behave and make decisions about resource allocation and the price of goods and services) and macro-economics (the bigger picture: whole economies, entire industries and global factors). A-level students will cover themes 1–4, two of which are microeconomics and two on macroeconomics. At the end of the course, students will sit three examinations. AS level students cover themes 1 and 2, one of which is based on microeconomics and another on macroeconomics. At the end of the course, students sit two examinations. Theme 1: Introduction to markets and market failure This micro-economics theme introduces you to the reality that demand and supply of goods, services and labour are affected by people’s unpredictability. You will also discover that markets are not perfect and can make societies better or worse off: certain businesses may hog the marketplace keeping the price of your software high; you may be unable to buy locally grown fruit because it is all being exported; your local hospital may not have the provision to do the operation you need, but you can buy cheap booze and cigarettes; and the fumes from the car you bought are creating pollution and affecting others’ health. You will then examine how local organisations and governments try to correct these market ‘failures’ and question why their actions do not always succeed. Theme 2: The UK economy – performance and policies This macro-economics theme takes all of the individual markets put together and investigates how they affect households, businesses and government within the UK. You will need to keep up to date with current affairs issues – like unemployment, government legislation and trade relations with other countries – and examine how specific government policies aim to achieve sustainable economic growth, low and stable inflation rates and full employment. Theme 3: Business behaviour and the labour market Here you will examine how businesses work (micro-economics) in different markets by applying theory and crunching numbers: you will analyse the revenue, cost and profit schedules of firms and how these may or may not equate to an efficient allocation of resources. You will also take a look at ways governments attempt to protect consumers’ rights and how they encourage firms to be more efficient. Theme 4: A Global Perspective What if companies could sue governments for decisions they believe jeopardise their profits? How would this affect governments’ ability to protect people, the environment or services? Who makes international trade rules? In this macro-economic theme, you will examine international trade patterns and relations, and the governing role of institutions like the World Trade Organization and the International Monetary Fund. You will also consider the (human and economic) impact of global issues such as poverty, inequality and the environment and what policies governments might use to tackle these problems.
Students who continue to Year 12 at Ashbourne are expected to be able to gain a minimum of 6 grades 6s (or equivalent) for their GCSE results and must have a determination to work towards their academic potential.