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Blackfen School for Girls

Blackfen School for Girls

Raising aspirations - releasing potential

Economics

Welcome to the Economics Department, part of the Vocational Faculty.  Our department offers Economics GCSE (AQA) and A level Economics (Edexcel).  We believe that our department equips students with the skills they need to function effectively in the workplace, may this be numeracy, analytical skills, how to work in teams or understand their place in an organisation.

Year 10 GCSE Economics

Term

Unit(s) of Work

Summary

Autumn term 1

Introduction to Economics

 

Students will be able to explain main economic groups

Autumn Term 2

The role of markets and Demand

Students look at the role of markets in allocating scarce resources. This leads into an exploration of the different economic sectors and concludes with a look at benefits and costs of specialisation, the division of labour and how this naturally leads to exchange.

Spring Term 1

Supply and Price

Students explore how prices are determined in a market using supply and demand. They look at intermarket relationships to understand the impact that changes in supply and demand in one market can have on other markets. The section concludes with an investigation of price elasticities, including how they are calculated and interpreted.

Spring Term 2

Competition and Production

Students explore the significance of cost, revenue and profit for producers, leading to an understanding of the significance of productivity on increasing profits. Students explore the concept of economies of scale and the benefits these can bring.

Summer Term 1

The labour market

Students come to an understanding that there are different types of market structures and explore competitive and non-competitive markets. Finally, students will look at the operation of the labour market and factors that determine wages.trade to all economies in the world.

Summer Term 2

The role of money and financial markets

Explain the role of money as a medium of exchange

• explain the role of the financial sector for the economy, including financial institutions such as banks, building societies and insurance companies

• evaluate the importance of the financial sector for consumers, producers and government

• analyse how different interest rates affect the levels of saving, borrowing and investment

• calculate the effect on savings and borrowings of changes in the rate of interest.

 

Year 11 GCSE Economics

Term

Unit(s) of Work

Summary

Autumn term 1

Europe

By the end of this unit students will understand how the EU operates, the reasons for it and why it can be of benefit to the UK economy.  They will also understand the how the Euro operates and appreciate any problems associated with a single currency.

Autumn Term 2

Macro Economics

By the end of this unit students will understand how the country operates and why governments have aims which they try to meet.  They will understand concepts such as inflation, monetary policy, fiscal policy and international trade.

Spring Term 1

Study of a global economic theme given by exam board.

By the end of this unit students will fully understand the theme set by the exam board, for example globalisation and be fully prepared to write extended answers in timed conditions.

Spring Term 2

Study of a global economic theme given by exam board.

By the end of this unit students will fully understand the theme set by the exam board, for example globalisation and be fully prepared to write extended answers in timed conditions.

Summer Term 1

Revision

Students revise all units and practice exam technique ready for their examinations.