The Economics Department
Entry requirements: GCSE grade 6 in Business
If the subject has not been studied at GCSE: GCSE grade 6 in English Language and English Literature and Mathematics
Our Vision
Fundamentally, Economics is about people and the economic choices they make. At Presdales, studying Economics allows our students to become better-informed consumers, producers and citizens of this world.
Studying economics enables students to develop an awareness and understanding of the economic forces that shape all our lives. Economists asks big questions about the world around us and seek answers to often complex issues. We want students to be able to thoroughly explore current events from a theoretical perspective and understand contemporary applications of what they study, thus allowing them to form opinions backed up by their knowledge of economic concepts. More generally, and arguably more crucially, we want students to be able to use their knowledge to make a change, either in their own lives or in the wider community.
The global economy in which we live today is a highly competitive one; studying Economics will help give you that competitive advantage.
Economics
Entry requirements: GCSE grade 6 in Business
If the subject has not been studied at GCSE: GCSE grade 6 in English Language and English Literature and Mathematics
What will you study?
We follow the A Level Edexcel/Pearson Economics A (2015) specification
Theme 1: Introduction to Markets and Market Failure:
An introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It also examines how pricing and the nature of competition between firms is affected by the number and size of market participants. In addition, you will be investigating the reasons for failures in markets to allocate resources efficiently.
Theme 2: The UK Economy – performance and policy:
This theme looks at how we measure economic performance and the main objectives and instruments of economic policy that governments use in the UK. An investigation into the wider economy, with detailed examination of current economic decisions and the consequences to the UK economy.
Theme 3: Business Behaviour and the Labour Market:
This theme builds on the introduction to Economics from Theme 1, investigating the theory of the firm and government intervention into markets. It furthers students’ knowledge of important Economists such as Hayek and Keynes.
Theme 4: A Global Perspective:
A look at the impact globalisation has had on the world economy. Investigating trading blocs, international competition and the rise in inequality that exists. In addition, development economics is researched as well as the impact of the Financial markets on different global economies.
Assessment
Assessment will occur in June of Year 2 and will consist of three separate examinations:
Paper 1: Written Paper On Microeconomics, Themes 1 and 3 – 2 hours – 100 marks
Weighting: 35% of total A Level marks.
Paper 2: Written Paper on Macroeconomics, Themes 2 and 4 – 2 hours – 100 marks
Weighting: 35% of total A Level marks.
Paper 3: Written paper, with all four themes assessed – 2 hours – 100 marks
Weighting: 30 % of total A Level marks.
At least 20% of the marks on all papers will require students to use mathematical skills.
Career Opportunities
Economics is a subject highly valued amongst employers and universities alike. Average earnings and employment levels for Economics graduates are particularly high. Its study can lead to careers in a broad range of areas such as Banking, Finance, Business, Consultancy, Law and Government Policy. Students intending to pursue a pure Economics degree at university are advised to take A Level Mathematics, although only 25% of Economics degrees require students to study A Level Mathematics.
