Entry requirements: GCSE grade 6 in Business.
If the subject has not been studied at GCSE: GCSE grade 6 in English Language or English Literature and Mathematics
Students will focus on two themes: (1) Markets, consumers and firms and (2) The wider economic environment. They will explore the core economic models and concepts used by economists and learn how to apply them in familiar and unfamiliar contexts.
The second year introduces two new themes: (3) The global economy, which explores issues of globalisation and business expansion and (4) Making markets work, which explores competition, market failure, macroeconomic management and the international financial sector.
Assessment will occur in June of Year 2 and will consist of three separate examinations:
- Paper 1 (2 hours, worth 35% of final mark) will assess themes 1 & 4
- Paper 2 (2hours, worth 35% of final mark) will assess themes 2 and 3
- Paper 3 (2 hours, worth 30% of final mark) will assess content across all four themes and students will be required to apply their knowledge and understanding, make connections and transfer higher order skills across all four themes. This paper will be based on a pre-released context that will allow students to investigate prior to the examination.
At least 20% of the marks on all papers will require students to use mathematical skills.
Economics is an excellent subject to study at this level. Many go on to university to further their studies. The majority of economics courses require mathematics at AS Level or higher but an increasing number are reviewing this requirement. For those planning careers in finance or management this course is a real asset.