Economics
Subject Leader: Mr. G Gartside
Subject Leader Email Address: gareth.gartside@swale.at
The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else.
JOHN MAYNARD KEYNES
Subject Overview
A-Level Economics offers a fascinating journey into how individuals, companies and governments make choices when faced with scarcity and the impact these decisions have on societies. Students will delve into both microeconomics and macroeconomics, exploring market failures, consumer behaviour, strategies, national income, inflation, unemployment and the role of fiscal and monetary policies in shaping global economies.
This subject cultivates essential skills in critical thinking, data analysis, problem-solving and evaluating complex arguments. These skills equip students to understand and interpret current affairs. Whether aspiring to careers in finance, policy-making, research or simply seeking a deeper understanding of the world's economic forces, Economics provides an unparalleled analytical framework for future success.
This subject cultivates essential skills in critical thinking, data analysis, problem-solving and evaluating complex arguments. These skills equip students to understand and interpret current affairs. Whether aspiring to careers in finance, policy-making, research or simply seeking a deeper understanding of the world's economic forces, Economics provides an unparalleled analytical framework for future success.
Sixth Form - Year 12
Term 1
Topic: Core microeconomic concepts and market fundamentals.
Enquiry Questions:
What are the fundamental principles of economics?
How do markets work?
Term 2
Topic: Market failure and government intervention.
Enquiry Questions:
Why do markets fail?
How effective are different forms of government intervention?
Term 3
Topic: Introduction to macroeconomic performance and the UK economy.
Enquiry Questions:
What are the key measures of economic performance?
What is the circular flow of income and how does the aggregate demand/aggregate supply model work?
Term 4
Topic: Understanding aggregate demand and aggregate supply.
Enquiry Questions:
What are the constituents of aggregate demand and what factors influence shifts within this?
How does the interaction of AD and AS determine macroeconomic equilibrium?
Term 5
Topic: Macroeconomic policy and objectives.
Enquiry Questions:
What tools do governments and central banks use to influence the economy?
What are the different macroeconomic policy objectives, the potential conflicts and trade-offs between them?
What is fiscal and monetary policy and how do these impact the UK economy?
Term 6
Topic: Supply-side policies, consolidation and application.
Enquiry Questions:
How do supply-side policies aim to improve the productive potential of the economy?
Sixth Form - Year 13
Term 1
Topic: Business objectives, costs and introduction to international trade.
Enquiry Questions:
What are the diverse objectives businesses have?
What are the features of international trade?
What are the theories of absolute and comparative advantage?
What is the rationale behind and the effects of protectionism?
Term 2
Topic: Market structures and global financial flows.
Enquiry Questions:
What are the characteristics of market structures and efficiency?
What are the components of global finance?
Term 3
Topic: Monopoly, labour markets and global economic challenges?
Enquiry Questions:
How does the labour market influence demand, supply for labour and wages?
What are the impacts of exchange rates?
How do policies respond to global issues of poverty?
Term 4
Topic: Labour market intervention, development and financial markets.
Enquiry Questions:
What interventions has the government made to the economy?
What factors and strategies influence economic growth?
What is the role of financial markets within the global economy?
Term 5
Topic: Strategic business behaviour, global risk and synoptic application.
Enquiry Questions:
What strategic decisions do companies make within different market contexts?
How effective are government forms of interventions?
How are global financial risks managed?
What are the influences of financial market regulations and ethical considerations within international business?
Term 6
Topic: consolidation and exam preparation.
How is the course assessed?
Performance is combined across three papers to determine the final grade:
Paper 1 (30%) focuses on Theme 1 (Markets and market failure).
Paper 2 (30%) covering Theme 2 (The UK Economy – performance and policies).
Paper 3 (40%) is a synoptic paper assessing all themes with a balance of microeconomic and macroeconomic content.