Econmics

Staff: Mr P. Allen, Mrs. L. McClure

GCSE Economics increases students’ knowledge and critical understanding of the world in which we live. It also helps them:

• make sense of the wide range of economic decisions taken by consumers, producers and governments as an integral part of everyday life; and
• appreciate the causes and effects of these decisions.

Through studying GCSE Economics, students:

• develop knowledge and understanding of market and non-market solutions to economics problems;
• appreciate the interdependence and dynamics of economic behaviour;
• learn relevant terminology, concepts and methods and recognise the strengths and limitations of the ideas used;
• apply their knowledge and understanding to current issues and problems in a wide range of appropriate contexts;
• distinguish between facts and opinions;
• evaluate qualitative and quantitative data in order to help build arguments and make informed judgements; and
• appreciate the perspectives of a range of stakeholders in relation to the environment, individuals, society, government and enterprise.

The five areas of study which are covered by the GCSE specification are:

• Economics Problems and Decisions
• Consumers, producers and the Government
• Money and Finance
• The National Economy
• The Global Economy

GCSE Economics is examined through two tiers of entry – Foundation and Higher – making use of questions based on a pre-released case study along with a more ‘traditional’ paper of short answer, data response and structured essay questions.

GCSE Economics can make a major contribution to students’ personal and social development and help them prepare for adult life. It can also help students prepare for the further study of Economics at a more advanced level.