Business & Economics

A level Business will give students a broad understanding of the key aspects of Business activity. Ranging from the role of entrepreneurs and business start ups to global multi-national corporations. It will provide an in-depth knowledge and critical understanding of a wide range of business theories and concepts.  This subject encourages the practical application of business concepts and is intended to promote active rather than passive understanding

Course description

Edexcel Business ‘A’ level contains four key areas (or themes). Marketing and People, Managing business activities (Business Finance, operations and external influences), Business decisions and strategy and Global business

What will you learn about?

The key areas we study are in Year 12 The marketing mix, managing people, business start-ups, enterprise and the role of entrepreneurs and leaders, Business finance and operations and external influences on business. Then in year 13 Global businesses and Global Marketing alongside Business decisions and strategy.

To be successful in this subject students will need to be good at and enjoy:

Researching and discussing Business issues and events, such as the role of new technology and social media on the businesses environment. Students should be competent at business related Quantitative skills such as calculating percentages, cash flow and ratios.  As well as have effective written skills to achieve high levels on extended written responses.

Progression routes & career opportunities

There are an enormous number of Business related courses on offer in higher education – Management Science, Marketing, Accountancy, Business and Economics. Students who undertake Business Studies at ‘A’ level will be well prepared for such courses.  Studying Business also gives students a wide range of career options including marketing, Finance, management, recruitment and HR.

Homework/extended learning

Homework is set regularly and will often include research on current examples of the theories covered in lessons, alongside exam style case study questions and extended response  questions.

Students are also encouraged to keep up to date with business issues using websites such as the BBC news site and also using resources such as The Guardian, The Times, The Financial Times and The Business Review.

Staff

• Jim Lockwood – Head of Department
• Martin Kemp – Teacher of Economics and GCSE Business
• Peter Garrod – Teacher of A level Business
• Lisa Colbear – Teacher of A level Economics
• Claire Morrell – Teacher of GCSE and A level Business

Economics is essentially concerned with the study of choices – what should be produced, how should it be produced and for whom? We consider both microeconomics: thinking about the individual and the firm, for example demand and supply, the labour market and costs and revenue; and macroeconomics: considering the wider economy, for example inflation, unemployment, trade and exchange rates.

Studying economics enables students to understand more about the world we live in, particularly from a financial perspective.

Course description

We follow the Edexcel Economics A course. The course is divided into four themes:

Theme 1: Introduction to markets and market failure.
This covers the fundamental microeconomic concepts including the basic economic problem, demand and supply, elasticity, how markets fail (for example underconsumption of goods such as education and overconsumption of goods such as cigarettes) and government intervention (through taxation and subsidies for example).

Theme 2: The UK economy – performance and policies.
This covers macroeconomic objectives such as economic growth and low levels of unemployment, aggregate demand and supply, exchange rates, national income and demand and supply side policies.

Theme 3: Business Behaviour and the Labour Market.
This covers business objectives, costs, revenue, various market structures such as monopoly and oligopoly, regulation and the labour market.

Theme 4: A global perspective.
This covers globalisation, measures of economic development, strategies to promote development, trade, exchange rates, the financial sector and the role of government in terms of taxation and public expenditure.

What will you learn about?

Throughout the Economics course you will learn about how the UK and global economies operate, from individual choices about what to purchase through to global agreements regarding trade. The course will provide you with a number of theories which help to explain individual and business behaviour and will also develop your skills of critical analysis and evaluation so that you can discuss and challenge these theories. 

To be successful in this subject students will need to be good at and enjoy:

Economics requires both numerical skills, including calculations, interpreting data and drawing diagrams and extended writing. An interest in current affairs, particularly the world economy and business news will be advantageous.

Studying A level Mathematics is not a requirement for the A Level Economics course but it is advantageous for many degree level Economics courses.

Progression routes & career opportunities

There are a wide range of further study and career options available to those who have studied Economics. It is a highly regarded subject for a range of university courses. Many of our students go on to study Economics and related subjects at university. Popular career paths include banking, insurance, marketing, management and the civil service. There are also a number of relevant apprenticeship opportunities, for example accountancy. Recent surveys suggest that Economics graduates are amongst the highest paid.

Homework/extended learning

Students are encouraged to keep up to date with business news, for example reading relevant sections of the BBC news website and reading articles from resources such as The Guardian, The Times, The Financial Times and The Economist.

Homework is set regularly and will often include research on current examples of the theories covered in lessons and examination style questions.

Additional information

The department takes part in external competitions, in previous years this has included the Bank of England Target 2.0 competition and the Student Investor Challenge.

Staff

• Jim Lockwood – Head of Department
• Martin Kemp – Teacher of Economics and GCSE Business
• Peter Garrod – Teacher of A level Business
• Lisa Colbear – Teacher of A level Economics
• Claire Morrell – Teacher of GCSE and A level Business