Economics

What is the overall aim of what we are learning in Economics?

Develop an understanding of economic concepts and apply these concepts to real-life situations.
Calculate, interpret and evaluate economic data in order to make reasoned arguments and informed judgements.
Develop an awareness of economic change and its impact on developing and developed economies.
Understand economic issues, problems and possible solutions that affect mixed economies.
Participate effectively in society as citizens, producers and consumers.

What are students learning in Year 12 & 13?

Theme 1: Introduction to markets and market failure
Theme 2: The UK economy – performance and policies
Theme 3: Business behaviour and the labour market
Theme 4: A global perspective

Why are they learning these things?

To develop an interest in, and enthusiasm for, the subject.
To appreciate the contribution of Economics to the understanding of the wider economic and social environment.
To develop an understanding of a range of concepts and an ability to use those concepts in a variety of different contexts.
To use an enquiring, critical and thoughtful approach to the study of Economics and develop an ability to think as an economist.
To understand that economic behaviour can be studied from a range of perspectives.
To develop analytical and quantitative skills, together with qualities and attitudes that will equip them for the challenges, opportunities and responsibilities of adult and working life.

Year 12 - Scheme of Learning Overview
	Theme 1: Introduction to markets and market failure
1.1	The Nature of Economics
1.2	Production Possibility Frontiers
1.3	Specialisation
1.4	How markets work
1.5	Demand
1.6	Supply
1.7	Price Determination
1.8	Elasticities 1
1.9	Elasticities 2
1.10	Consumer and Producer Surplus
1.11	Taxes and Subsidies
1.12	Market Failure
1.13	Externalities and Government Intervention
	Theme 2: The UK economy - performance and policies
2.1	Inflation
2.2	Economic Growth
2.3	Unemployment
2.4	Balance of Payments
2.5	Aggregate Demand
2.6	Aggregate Supply
2.7	National Income
2.8	Demand Side Policies
2.9	Supply Side Policies
2.10	Macroeconomic Objective. Policy Conflict

Year 13 - Scheme of Learning Overview
	Theme 3: Business behaviour and the labour market
3.1	Sizes and Types of Firm
3.2	Revenues, Costs and Profits
3.3	Efficiencies and Objectives
3.4	Market Structures
3.5	Labour Market
3.6	Government Intervention
	Theme 4: Global Perspective
4.1	International Economics - Trade
4.2	Trading BLOCs and Protectionism
4.3	Balance of Payments and Exchange Rates
4.4	Role of the State in the Macroeconomy
4.5	Poverty and Inequality
4.6	Emerging and Developing Economies
4.7	The Financial Sector

How do we provide Stretch and Support?

Stretch

Students are challenged with developing evaluative skills demonstrated in high level essay writing. Students are taught how to analyse complex data and produce critical writing pieces and diagrams

Support

Students are supported with basic formulae to make economic calculations and scaffolded diagrams. Up to date resources and material is provided to students

How can I find out more about what students are learning?

Schemes of Learning	Over the course of this academic year, we will be sharing links to our schemes of learning. You can click on these links to see more about what your child is studying.
GCE Exam Board	See the exam board specification below for a full outline of how the course is structured.
GCE Specification	Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
Subject Contact	The name and email address of the subject leader can be found below. Please feel free to contact them if you have any further questions or would like to learn more about the curriculum students are following.
Subject Leader & email	Mr A Deb adeb@islipmanorhigh.org.uk