GCSE
Economics affects everyone. Whether you are trying to get the most out of your pocket money, Bill Gates running Microsoft or the Chancellor managing the U.K. economy we are all subject to the same economic forces. We all have limited resources and have to make economic choices.
If you are trying to explain the latest rise in Inflation, why people in some countries have to survive on a Dollar a day, whether Interest Rates should be cut, why the Stock Market is not doing well, what the effects of a rise in oil prices would be and whether the U.K. should join the Euro an understanding of Economics is essential.
The constantly changing nature of the economy makes Economics a challenging and stimulating subject and that there are no easy answers is all too obvious when you listen to the disputes between Economists! As an Economics student you will be better placed to make reasoned judgements for yourself.
AIMS OF THE COURSE
The course will help you play a full and informed part in society as a Consumer Citizen and Producer. You will be introduced to the issues behind the economic forces affecting us all. The major economic issues and forces in the U.K. economy at individual, industry and national level are studied together with our place in the international economic community.
WHO SHOULD STUDY ECONOMICS
Pupils with an interest in current events will certainly enjoy this subject. Those of you with a possible career interest in Management or Finance will find that an understanding of Economics is invaluable. Boys and girls do equally well at GCSE Economics.
STUDY PROGRAMME
The course uses a wide range of study techniques. In the classroom, you can expect note-taking, group work and discussion. Because of the nature of the subject, the use of case-studies, videos and topical examples play an important part in many of the lessons. As so much up-to-date economic information is available on Computer, you will make use of CD-Rom, the Internet and other computer software.
Four years ago, a GCSE Economics Club was set up. As one of the activities, pupils invest £300 in shares half of which comes from sponsorship, the rest which is their own money and then anxiously begin to read the Financial Times share prices! This year’s pupils organised a FairTrade stall at the Christmas Fair and not only sold all the stock but made a profit for charity. During October half-term, Fifth Year groups have had an overnight stay in London to visit the Bank of England, Houses of Parliament and the UK headquarters of the European Union (plus the London Eye and Harrods!!!).
ASSESSMENT
The final Assessment will consist of one written paper and one piece of coursework. The written paper is taken at one of two tiers of assessment and counts for 80% of the total mark. The coursework counts for the remaining 20%.
Almost all pupils will be entered for the Higher Tier (grades A* – D) although there could be exceptional circumstances where the Foundation Tier (grades C G) is recommended
PROGRESSION
Economics is a popular and long-established subject at St. Bede’s. GCSE in the subject leads naturally to A Level Economics. At Advanced Level, Economics is popular among students aiming for eventual careers in Accountancy, Finance, Retailing, Insurance, Banking, etc. An Economics qualification offers excellent career prospects which is why so many of our students study it at University.
10 REASONS FOR STUDYING GCSE ECONOMICS
You will be studying a subject which:
- Involves the use of Computers and the Internet.
- Use topical events and current news stories in the classroom.
- Is wide-ranging, varied and applied in its content.
- Has impressive examination results with 1 of AQA’s top 5 GCSE Economics candidates in the past two years.
- Offers you the chance to invest on the Stock Market!
- Has excellent career prospects.
- Leaves you better informed about the economic policies of the political parties.
- Studies some of the key issues facing Britain e.g. the Euro Currency
- Provides a valuable insight into some of the key problems facing the world today such as pollution and poverty.
- Allows you to discuss intelligently the economic issues of the day.
A LevelIntroduction
Economics is a popular A Level choice at St. Bede’s. Its success is due in large part, to being a course which is interesting, topical and wide-ranging.
Those studying Economics in the Sixth Form will be following the course offered by the OCR Examination Board.
AS
The topics we cover in the three Advanced Subsidiary (AS) Modules in Lower Sixth will help you understand many of today’s key issues:
The Market System (15% of the final mark)
- Why did EMI pay Robbie Williams £80million for his next three albums?
- Why is there so much tax on cigarettes and petrol?
Market Failure & Government Intervention (15% of the final mark)
- Should the Government abolish University tuition fees??
- Are toll roads the answer to traffic congestion in the UK?
The National & International Economy (20% of the final mark)
- Does the world economy face a recession?
- Is an independent Bank of England such a good idea?
A2
ECONOMICS IN UPPER SIXTH
Those students continuing to A2 will study three further units. The ‘Economics of Work & Leisure’ is sat in the January of Upper Sixth. ‘Economics of Development’ and ‘Economics in a European Context’ are examined in the June of Upper Sixth.
Economics of Work and Leisure (15% of the final mark)
- Is the National Minimum wage such a good idea?
- Is David Beckham really worth £25million to Real Madrid?
Economics of Development (15% of the final mark)
- Today 75% of the world’s population live in the Third World and by 2025 this will rise to 84%. One-third live on less than £250 per year. Does this matter?
- “For unto everyone that hath shall be given and he shall have abundance; but from him that hath not shall be taken away even that which he hath.” Is this the law of international trade?
Economics in a European Context. (20% of the final mark)
- Two years on – is the Euro really such a bad thing after all?
- How will the EU be affected next year when 10 new countries join it?
This module tests the knowledge and understanding of Economics you have gained in the other Units and is known as the synoptic module.
STUDENTS’ WORK
CLASSWORK :
Expect your lessons to vary and be a mixture of note-taking, discussion, group-work, videos, use of computers, etc.
HOMEWORK :
You will have one major homework per teacher per week. This could take a number of different forms. In addition to essays and data-response questions you might do independent research for a presentation to the group.
INFORMATION TECHNOLOGY
During the course, there will be a number of exercises requiring you to make use of computers. There are also Computer models of the Economy that will show you some of the problems experienced by the Chancellor of the Exchequer!
VISITS
The Department organises a biennial overseas study visit during the February half term. These have proved very popular and to date, we have taken groups to Brussels & Strasbourg / Dublin & Galway / Paris & Cologne / New York & Washington / Milan & Rome / Madrid & Barcelona. In 2004, we plan to visit Moscow and St. Petersburg.
LECTURES & OTHER ACTIVITIES
Closer to home, we have attended day courses at Salford University, Manchester Metropolitan University and Manchester University. In addition, the Department organises and hosts its own A Level Economics Conference. We also participate in a number of national competitions aimed at A Level Economics students.
GCSE REQUIREMENTS
There is no requirement for you to have studied Economics at GCSE Level and some of our most successful students start the subject in the Sixth Form. Economics in the Sixth Form does not demand a level of mathematical ability beyond GCSE standard.
WHY CONSIDER ECONOMICS IN THE SIXTH FORM?
- Many of our A Level students go on to study Economics or a related subject at University. The career prospects for those with an Economics or related degree are varied and encouraging. Jobs include working in the civil service, local government, banking, insurance, accountancy and management. The list does not end here and Economists are found in many other manufacturing and service industries.
- Economics, lying as it does between the Arts and the Sciences is a suitable subject to complement either group. Combined with subjects such as Mathematics and Physics it can widen opportunities to include Management options. Similarly, with Modern Foreign Languages it provides an excellent base for those looking to work abroad or in a company with overseas links.