Key Stage 4

Students follow the OCR J205 GCSE specification and are taught for five periods a fortnight. Weekly homework tasks include answering questions based on the final exam, researching textbook topics and making additional notes, learning key terms and revising whole topics for classroom tests, and further research. In Year 11 students also complete an examination practice question every week. The GCSE is 100% examination. Paper 1 is on the topics of unit 1 and aspects of unit 2 and comprises 20 multiple choice questions and extended writing questions based on three case studies. Total marks: 80. Paper 2 examines the topics of unit 2 and aspects of unit 1, with the same format of questions as Paper 1. Total marks: 80. Both papers form 50% of the final marks and are 1 hour 30 minutes.

Year 10

Role of economic groups. Central economic problems and opportunity cost. Role of markets. Demand, supply and market price. Competition: degrees of competition and monopoly power. Production: importance for economy, economies of scale. The labour market and pay. Role of financial institutions.

Year 11

Economic growth. Employment. Fair distribution of income. Price stability. Fiscal policy. Monetary policy. Supply-side policies. Limitations of markets. International trade. Exchange rates. Globalisation

Key Stage 5

Pupils study the Edexcel A Level Economics course for nine periods a fortnight in Year 12 and 10 periods in Year 13. Weekly homework tasks include short and long-answer assessments, essays and multiple-choice tests, reading, and research. Assessment is 100% examination with three equally weighted, two-hour papers taken at the end of Year 13. Paper 1: Markets and Market Behaviour, 35% of the final mark. Paper 2: National and Global Economy, 35% of the final mark. Paper 3: Microeconomics and Macroeconomics, 30% of the final mark.

Entry requirement

Grade 6 GCSE Economics if studied (Grade 7 preferred). Grade 6 GCSE English Language and Grade 7 GCSE Mathematics if GCSE Economics not studied.

Year 12

Microeconomics: the economic problem and types of economy – market, planned and mixed; demand and supply, market equilibrium; elasticity of different types; types of efficiency – productive, allocative and dynamic efficiency; reasons for and consequences of market failure; government intervention. Macroeconomics: structure of economy; economic growth and development; sustainable development; policy objectives, measuring and improvements; inflation, unemployment, economic growth and balance of payments; trends in macroeconomic performance of UK economy; model of aggregate demand and supply, and impact on AD/AS of government policies.

Year 13

Microeconomics: types of competition and behaviour of firms in different markets; the labour market; intervention methods to tackle labour market failure; income and wealth inequality; consequences of government intervention. Macroeconomics: the economic cycle; Phillips curve representation of inflation-unemployment trade-off; international trade and absolute/comparative advantage; economic integration; different measures of exchange rates; role and regulation of the financial sector in the economy; role of the Bank of England; approaches to policy depending on external forces.