Economics

Curriculum Organisation

Students have six lessons per week in Year 13 and are taught in mixed ability groups, which are allocated depending on which option block is chosen. Course books are ‘AQA A2 Economics - Anderton’ and ‘AQA Economics – Nelson Thornes’.

Independent Study

Students will be given a reading schedule of pages they need to read from their two course text books and other reference material. This will enable students to catch-up on missed work if absent or give them the chance to read ahead in preparation of future lessons. They will also be given an outline of the work they will cover, with approximate time allocations for each area of the syllabus. Both these documents will be closely linked to their main course text book.

Students are expected to read outside of lessons. They should be reading pages indicated on their reading schedule to ensure full understanding. They must then obtain further help in their non-contact time if they do not understand concepts. They should be making notes from the pages indicated, either on flash cards or by using PowerPoint. Students should also take an interest in ‘real’ economics issues, by reading the ‘business’ newspapers. They should also listen to Podcasts and read the daily Economics blogs on the tutor2u website, details of which can be found in the ‘useful websites’ section.

It is vital that they read the ‘Economic Review’ magazine in the library. This comes out every three months and back copies are kept. This can be borrowed on a short-term basis.

Assessment and Reporting

Students will be assessed by the following external examinations:

Content       Unit Code Weighting Date
Business Economics and the Distribution of Income  ECON3  50%  June
Business Economics and the Distribution of Income  ECON4  50%  June

Students will be assessed against ‘real’ A2 criteria throughout the year and these will be used to grade students accordingly for reporting. Student progress will be monitored using a departmental tracking sheet and targets will be set from this data, as appropriate. Students will also be expected to set their own targets at the end of each section of work. Extension tasks will also be set to further the knowledge of high achieving students. Students should be constantly trying to improve their understanding by attempting tasks from their text book.

Extra Curricular Opportunities

Students will get the chance to participate in an Enterprise project or take part in the Student Investor Club. This will be run as a lunchtime club.

Useful Websites

BBC Wake up to Money Podcast http://www.bbc.co.uk/radio/podcasts/money/
AQA exam board course specification http://www.aqa.org.uk/qual/pdf/AQA-5141-6141-W-SP-09.PDF
AQA exam board past examination papers and mark schemes http://www.aqa.org.uk/qual/gceasa/eco_assess.php
Tutor2u revision materials http://www.tutor2u.net/
Tutor2u daily Economics Blog http://www.tutor2u.net/blog/index.php/economics
BBC Economics News search http://news.bbc.co.uk/1/hi/business/economy/default.stm
BBC Working Lunch online business news programme http://news.bbc.co.uk/2/hi/programmes/working_lunch/default.stm
S-Cool revision site http://www.s-cool.co.uk/default.asp
The Economist magazine website http://www.economist.com/
The Guardian newspaper website http://www.guardian.co.uk/business/economics
Biz-Ed revision materials http://www.bized.co.uk/

Module 3 Econ – 3

Area of study:  3.3.1 The Firm: Objectives, Costs and Revenues 
Specific content: Objectives of firms, Ownership vs. Control, Diminishing returns, Returns to Scale,
 Costs, Economies/Diseconomies of scale, Technological Change, Revenue.

Area of study: 3.3.2 Competitive Markets
Specific content: Perfect Competition, Efficiency, The Dynamics of Competition.

Area of study:  3.3.3 Concentrated markets
Specific content: Monopoly, Oligopoly, Pricing, Growth, Collusion, Price Discrimination, Producer & Consumer Surplus,  

Area of study:  3.3.4 The Labour Market
Specific content: Marginal Productivity Theory, Labour Supply, Wage Determination, Wage Differentials, Trade Unions, Minimum Wage, Discrimination in the Labour Market, Income Distribution.

Area of study  3.3.5 Government intervention in the Market  
Specific content:  Market Failure, Government Failure, Competition Policy, Private vs. Public Ownership,
Regulation & De Regulation, Poverty & Equity, Policy to alleviate poverty and affect distribution of wealth.

Module 4 Econ – 4

Area of study:  3.4.1 Macro Economic Indicators 
Specific content: The economic cycle & economic growth, National Income Data, Unemployment,
 Inflation & Deflation,

Area of study:  3.4.2 Managing the National Economy 
Specific content: Economic Models, Fiscal Policy, Supply Side Policy, Monetary Policy, Exchange Rate Policy.

Area of study:  3.4.3 The International Economy 
Specific content: Globalisation, Trade, The Balance of Payments, Exchange Rate Systems, The European Union.