This course will help you to understand the world around you. It examines economics on a micro and macro scale. You will use an enquiring and critical approach to make informed judgments about a range of contemporary issues that arise from the impact of economic activity. This will help you to understand current events and provide a basis for your role as a citizen in the future. It is a challenging academic course, where a high level of logical and mathematical ability is desirable.
Unit 1: How the Market Works
* What is the economic problem?
* What are competitive markets?
* How do firms operate in competitive markets?
Unit 2: How the Economy Works
* What are the economic objectives of a government?
* How does the UK government raise and spend its money?
* Which policies can the UK government use?
Unit 3: The UK Economy and Globalisation
* Why do countries trade?
* Why is the UK in the European Union?
* How is the UKâ??s international trade recorded?
* How important is the value of a currency?
* How does a country become competitive?
* Why do less developed countries struggle to achieve growth and benefit from international trade?
* What measures may be used to support growth for less developed countries?
How you will be assessed
At the end of year 11 you will sit all 3 exams. Unit 1 exam consists of short answers with some data interpetation. This exam is worth 25%.
The unit 2 exam is a 1 hour exam which consists of short answer questions with some data interpretation worth 25%.
You will also take a one and a half hour exam based on a pre release case study on unit 3, worth 50%.