Economics
Overview
Economics is about choice and the impact our choices have on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to those taken by governments and businesses. It is about scarcity and the problem of resource allocation. You will learn economic theories and develop your ability to apply the knowledge you gain to real life situations at a local, national and global level. Economics fits well with Sociology, Geography and History. It involves the interpretation and use of data, so you get to use your maths skills although you are also required to write extended prose answers where you make judgements and justify them.
You will follow the AQA Specification - the course will be divided into two units. Each unit is externally examined in separate exams. The GCSE exams in Economics include questions that allow students to demonstrate their ability to:
• draw together their knowledge, skills and understanding from across the full course of study
• provide extended responses.
Assessment Components
Paper 1
How markets work
Students will look at economic foundations such as the nature and purpose of economic activity, the factors of production and the importance of making choices. Students will also look at how resources are allocated using a market mechanism.
80 Marks
1 hour 45 minute written paper
50% of total GCSE (9–1)
Paper 2
How the economy works
Students are introduced to the wider economy from the perspective of the main economic groups: consumers, producers and government. Students explore the significance of interest rates including their impact on saving, borrowing and spending.
80 Marks
1 hour 45 minute written paper
50% of total GCSE (9–1)
In studying Economics you will:
- Develop as an effective and independent learner
- Use an enquiring, critical approach to distinguish between fact and opinion, build arguments and make informed judgements
- Apply your knowledge, understanding and skills to understand current events in a range of local, national and global contexts
- Understand the perspectives of a range of different stakeholders in relation to economic activity
- Consider the moral issues that arise as a result of the impact of economic activity on the environment and economic development
Study at Home
Text Book – Heinemann Publishers – OCR Economics by Bancroft and Chapman
This link takes you to bite size homepage. Pick Business Studies and access notes and short tests.
www.bbc.co.uk/schools/gcsebitesize/
Tutor2u have lots of good notes. If you investigate the site you will find other revision tools.
Bized again has loads of good notes and materials. The resources are more geared up to A level students, but they are a good reference source.
www.bized.co.uk
Watch the news, look at the BBC news website and read newspaper articles on current economic issues.
Ways for parents to support learning
Contact
Please contact the Head of Economics, admin@egas.islington.sch.uk, if you would like more information about the course.