Economics

 

The Economics and Business Studies (EBS) Department at Worth School offers a wide variety of courses at GCSE, A Level and as part of the IB Diploma programme.

Economics is the practical application of economic theory to help with answering questions which arise in the operation of firms, markets and economies. It is concerned, too, with the desire to satisfy infinite wants with scarce resources.

Students on these courses will need an ability to analyse and evaluate using a variety of sources of information to support their ideas, as well as a genuine and broad interest in the commercial world.

GCSE LEVEL

This exciting course provides the first opportunity for Worth School students to study Economics. In Year 10, students will look at a broad introduction to economics and the role of markets and money. In Year 11, students will further develop their skills whilst studying the economic objectives and the role of government as well as international trade and the global economy. The Examination Board is OCR (course code J205).

A Level Economics

The A Level course will enable students to develop knowledge, critical understanding and skills in analysing and evaluating economic and business situations. The course combines the economic theory involved in macroeconomics and microeconomics with the analysis of different business situations. This keeps the course up-to-date and relevant whilst still calling upon detailed economic and business theory. The Examination Board is OCR (course code H460).

Assessment is in the form of three two-hour examinations at the end of Year 13; there is no coursework.

As Information Technology is a major contributor to the operation of firms, markets and economies, it is incorporated into the course where relevant. It may take the form of research through the Internet or CD-ROM material, spreadsheet analysis through Excel, or simulations on business theory. Students will be taught how to use the school's excellent IT facilities to aid and stretch their development and understanding of the academic theories that relate to economic concepts and principles.

INTERNATIONAL BACCALAUREATE ECONOMICS

Economics is available at both Higher and Standard levels as part of the IB course at Worth. At both levels, the course will enable you to develop knowledge, critical understanding and skills in analysing and evaluating economic and business situations.

There are four separate elements to the IB Economics courses at both Higher Level and Standard Level. They are: Microeconomics; Macroeconomics; International Economics and Development Economics.

For IB Higher Level Economics, assessment takes the form of three external examinations (worth 80% of the final mark) and three internal assessments (worth 20% of the final mark).

For IB Standard Level Economics, assessment takes the form of two external examinations (worth 80% of the final mark) and three internal assessments (worth 20% of the final mark).

ADDITIONAL INFORMATION

Good grades in Mathematics and English GCSEs are essential and so too is commitment to taking responsibility for your own independent learning.  It is not a requirement to have studied GCSE Economics, but it may help your progress.

All Sixth Form students taking Economics automatically become members of the Walter Monckton Society which invites speakers to talk on issues related to Economics, Business and Politics.

As well as invitations to external speakers, there are other ways in which Economics is brought to life. There is an annual Year 12 trip to the City of London, attendance at student conferences, evening university lectures and other activities such as the Bank of England Target 2.0 Competition and the Young Enterprise Scheme.

SIXTH FORM ENTRY REQUIREMENTS

Good grades in Mathematics and English GCSEs are essential, and so too is commitment to taking responsibility for your own independent learning. It is not a prerequisite for studying Economics in the Sixth Form that GCSE Economics or GCSE Business Studies has been taken. However, it is likely that students who have taken the GCSE Economics qualification will be at an advantage if they carry on into the Sixth Form.

UNIVERSITY OPPORTUNITIES AND CAREERS

Economics is a subject which will act as a foundation for many careers. It is highly valued by many financial sector institutions and can lead to a career in both the public and private sectors. There are a wealth of courses with an Economics component listed on the UCAS website.

Mr Richard Phillips

Mr Richard Phillips