The GCSE Economics course provides students with a rigorous academic introduction to the economy and the economic issues dominating the news. It aims to give students a thorough and detailed academic grounding in the subject of Economics in that they learn about personal Economics, as well as some of the big (what Economists call the macroeconomic) issues that can influence the whole economy such as changes in exchange rates, interest rates, and government spending (please see the summaries of the contents of the course units below). Those deciding to do the course may learn in a variety of ways such as through role-play, visits, case studies, guest-speakers, note-taking, video, preparing presentations and group work. GCSE Economics lessons will also provide some opportunities for practising and developing the three main key skills of ICT (but please note that the majority of lessons will take place in a traditional classroom setting and not in computer rooms), communication, and application of number, alongside the wider key skills of working with others, problem solving, and improving learning. Students are currently assessed through sitting two exam papers, each of one hour and a quarter hour duration. Those applying for this option should feel confident in their ability to write detailed and sometimes lengthy responses to exam questions, and to handle some standard mathematical calculations.
The course provides an excellent academic foundation for those wishing to do Economics and/or Business Studies in the Sixth-Form and to an even higher level.
The course is comprised of two units:-
Unit 1 : Personal Economics
On average in the UK, a person earns around £26 000 per year. What are the things you need to consider if you are to spend, save and invest these earnings wisely? Have you ever wondered why so many individuals and households in the UK are in debt? What are the pros and cons of different ways of borrowing and how can we best manage our personal finances? How might it be possible to make money on the stock market? If these questions interest you, then GCSE Economics may be for you!
This unit aims to equip students with the basic tools of the economist to help them understand their place in and contribution to the local, national and global economy as consumers, workers and citizens. They will be encouraged to investigate a range of contemporary issues, analysing the evidence from different perspectives so as to make reasoned judgements and informed decisions.
Unit 2 : Investigating Economic Issues
By 2020 China is likely to overtake the USA as the worlds largest economy. Is the rise of China as a global economic power an opportunity or a threat to the UK and the rest of the world? Just what is happening in the Eurozone? Will the UK economy go back into recession or not? Is the growing gap between the rich and poor good or bad for the UK? These are just a sample of some of the macroeconomic issues addressed on the course.
In the study of this unit students will further develop their understanding of economic concepts and theories studied in Unit 1. Students will apply these to a range of economic issues locally, nationally and globally.
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