Economics

“Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.” Adam Smith 

Curriculum Principles

Economics enables students to consider why choices need to be made, how choices are made, and the implications of those choices for quality of life. Economic questions enter into all aspects of life: how wages are determined, whether taxes should be raised, how to best provide equality of opportunity in society, how to protect the environment, how to get rich, or how to use our scarce resources to satisfy needs. 

Economics students need to be able to understand how economic theory can be used to analyse and evaluate economic information to make reasoned judgments. Students are taught a range of topics through which they progress over the duration of the course. The courses are also reactive by delivery dependent upon current affairs. For example, the impact of the COVID 19 pandemic on macroeconomic areas, means that there would be links to these current affairs and associated theory whilst delivering microeconomics in Year 12. 

Curriculum Features

In Key stage 4 and 5, students are provided with economic  knowledge through the teaching of economic theories and models to enable them to think analytically and to consider  how the different choices individuals, firms and governments make impact on both individuals and the performance of an economy. Students will develop their quantitative skills through the use of data, statistics and economic diagrams in line with the department for education guidelines for Economics. 

We encourage students to think critically about issues, problems and make informed decisions. Students are exposed to a broad and balanced view of both micro and macroeconomics. We enable students to have a broader world view through economic news and examples of past economic decisions introduced by governments. We challenge students to consider economic decisions in the context of local, national and international variables. We conducted a peer review of GCSE Economics and A Level Economics with department leadership from a similar school setting. This quality assurance process along with subject lead advice from the exam board, was a catalyst into rearranging the A level Economics curriculum into a two year linear curriculum. It was also beneficial to share our established good practice of both formative and summative assessment. We also felt that due to the current economic environment, there will be plentiful application opportunities over the course of the coming years to link microeconomic and macroeconomic theory to real world examples as economies try to recover after the COVID 19 Pandemic.

In addition to this curriculum map, schemes of learning have also been prepared for Economics. These go beyond this wider ‘Why this and why then’ curriculum map and examines more focussed areas of Rosenshine’s Principles in Action in relation to presenting new material in small steps, providing models and scaffolding. 

Career Relevance  

Qualifications in Economics are amongst the most sought after, they open up opportunities in banking, consultancy, charities and third sector employers, local, regional and national government, finance and accounting and research. The A level is also useful for students who wish to study economics, maths, business, accounting, history, social policy and politics. Qualifications in economics indicate to employers that someone has an excellent grasp of mathematics and the ability to observe, analyse and evaluate key information. 

We also aim to provide students with a stepping stone to University degree courses. UCAS identify Economics as one of the courses with the highest entry requirements, ranging from BBC to AAA2, with some universities such as the University of Cambridge asking for A*A*A*. This highlights the importance of getting the Economics curriculum right to allow students to be stretched and challenged to achieve these high entry requirements. 