Economics

What is Economics about?

Economics can broadly be defined as the study of scarce resources and how they are used in society. Economics affects almost everything we do, not merely at work or in the shops but also in the home and the voting booth. It influences how well we look after our planet, the future we leave for our children, the extent to which we can care for the poor and the disadvantaged, and the resources we have for enjoying ourselves.

By studying economic theories, both old and modern, it is possible to gain a greater understanding of many important issues. Examples of questions that arise in the A Level course at BGS include:

• Why does Wayne Rooney earn more than a top heart surgeon?

• Should Bristol introduce a congestion charge to control traffic congestion and pollution?

• Should the government tax fast food?

• Would the cancellation of “Third World debt” improve living standards in the poorest areas of the world?

• Would the UK economy benefit from adopting the Euro?

• Is economic growth causing climate change?

• How can the continuing gender pay gap between male and female workers in the UK be reduced?

• The aims of this course are to:

• Develop an understanding of economic concepts and theories through a critical consideration of current economic issues, problems and institutions that affect everyday life;

• Apply economic concepts and theories in a wide range of contexts and to appreciate their value and limitations in explaining real world behaviour;

• Analyse, explain and evaluate how different economic systems operate, including the role of government.

What skills are developed?

Economics develops a ‘tool kit’ of knowledge and skills that can be applied to virtually any situation or issue. Almost all daily news headlines, for example, have an economic theme if you look hard enough. Students are encouraged to research such topics using journals, newspapers, websites and other resources. Discussion and debate is an important element of lesson activity, developing skills of evaluation and judgement. The subject requires a good level of mathematical ability, and written and verbal communication skills are also important. On completion of the AS course, students may opt to continue with the applied economics units in A2.

AS Units 1 and 2 A2 Units 3 and 4.

All units are assessed by written examination.

Where does it lead?

Every year a large number of A Level economics students at BGS choose to continue studying the subject into higher education, either in its own right or as part of a joint degree course. An understanding of economics also serves as a useful grounding for other related degree courses, e.g. accountancy, business management, politics and law. Many professional qualifications, such as those found in banking and accountancy, include economics components. An understanding of economics can be useful in a wide range of occupations, and former BGS A Level economics students can now be found in many sectors of the economy, including finance, education, law, business, journalism and the public sector.

For details of the A Level curriculum please visit www.ocr.org.uk