|Economics is the study of how society allocates resources to satisfy the wants and needs of consumers. Sometimes this is done through markets (the interaction of consumers and businesses), sometimes by the government (healthcare, for example), and sometimes a combination of the two (a market where the government intervenes, such as the market for petrol).
Macro and Micro
The study of Economics is divided into two broad areas, Macroeconomics and Microeconomics. Macroeconomics deals with the economy’s performance as a whole (economic growth, unemployment, inflation, international trade) and the government’s policy tools to improve this (taxation, government spending, interest rates, legislation). Microeconomics deals with the workings of specific markets within an economy, and the role of the government in correcting for any failures within these markets.
Learning and Teaching
The focus of the department is very much on equipping students with the skills and resources they require to flourish at this level of study, and far beyond. Students are encouraged to take responsibility for their own work and develop a critical approach to the study of the subject. They are fully supported in this by their teachers and the wide array of resources available to them. We follow the AQA syllabus, which can be found here.
Business and Economics are not one and the same subject - the difference can be seen here.
Beyond A level
The department is well-placed to support the students in their applications to study Economics and related degrees. There are weekly extension sessions in the Advent Term, and students have access to a range of further reading material in the Mervyn Peake Library.
Students are encouraged to take part in a wide range of subject-related activities in order to enrich their appreciation and understanding of the subject. These include public lectures, essay competitions, the Bank of England’s Target 2.0 monetary policy competition, book reviews, a virtual share trading competition, and an active Economics and Business Society.
The department is staffed by four specialist teachers:
We operate an ‘open door’ policy where students can come to the department with any issues regarding their work at any time, provided a member of staff is available.