Economics

Curriculum Intent

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood”

John Maynard Keynes

Everyone’s daily lives are affected by economic issues. Our Economics curriculum aims to develop students’ skills of analysis and inquiry and their ability to think critically about the world around them so that they are able to make informed decisions when making economic choices that relate to their daily lives. As students progress through the curriculum, they develop a detailed knowledge of trends in the UK political economy and the impacts of increasing globalisation over the last 25 years. They examine in depth the effects of economic variables on everyday life for consumers, businesses and governments and develop a considered understanding of the real world effectiveness of government proposals in affecting the behaviour of individuals (e.g. 5p tax on plastic bags; nudge policies; tax on higher income earners). In addition, students develop their skills of quantitative and analytical analysis, forming and testing hypotheses, and commercial awareness. They develop in their ability to make informed judgements and to communicate in a clear and concise way. These transferable skills greatly equip students for the challenges, opportunities and responsibilities of adult and working life.

Key Stage 4

OCR Economics (9-1) J205

Year 10	Year 11
1.1 Main economic groups and factors of production 1.2 The basic economic problem 2.1 The role of markets 2.2 Demand 2.3 Supply 2.4 Price 2.5 Competition 2.6 Production 2.7 The Labour market 2.8 The role of money and financial markets 3.1 Economic growth 3.2 Low unemployment 3.3 Fair distribution of income 3.4 Price stability	3.5 Fiscal policy 3.6 Monetary policy 3.7 Supply side policies 3.8 Limitations of markets 4.1 The importance of International trade 4.2 Balance of payments 4.3 Exchange rates 4.4 Globalisation

Key Stage 4 assessment

Regular class topic tests at the end of each topic - definitions, explanations and calculations
Multiple choice questions
Extended essays - Supply and demand, Competition, The Labour market, Inflation
Research tasks eg Assess the economic impact of the Working Time Directive
Exam questions – both in class and set as homework

Key Stage 5

Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)

Year 12	Year 13
1.1 Nature of Economics 1.2 How markets work 1.3 Market Failure 1.4 Government Failure 2.1 Measures of economic performance 2.2 Aggregate demand (AD) 2.3 Aggregate supply (AS) 2.4 National income 2.5 Economic growth 2.6 Macroeconomic objectives and policies	3.1 Business growth 3.3 Revenues, costs and profits 3.4 Market structures 3.5 Labour market 3.6 Government intervention 4.1 International economics 4.2 Poverty and inequality 4.3 Emerging and developing economies 4.4 The financial sector 4.5 Role of the state in the macro-economy

Key Stage 5 assessment

Regular class topic tests at the end of each topic - definitions, explanations and calculations
Multiple choice questions with extended answers – emphasis on “chain of reasoning”
Extended essays - analysis and evaluation
Research tasks eg “Should the government put a tax on sugar?”
Exam questions – both in class and set as homework

Curriculum enrichment outside of the classroom

Visitors from Bank of England, Treasury and private firms eg KPMG, HS2 pressure group leader, Silverson Engineering
Attend lectures at other schools
Access to the Financial Times; subscription to the Economist; Royal Economic Society
Videos: The big short; Enron Scandal, Ted Talks
Recommend play “The Lehman Trilogy”
Royal Economics Society Essay competition
Updates of opportunities for careers in Economics eg Collaboration of Kent University with Civil Service
Purchased an online economics package packed with current data and in-depth analysis

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