Through studying Economics pupils are prepared for real work situations. Through discussion, experiment and decision-making, they develop their independence and understanding of the economic world.
“Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.” Sam Ewing
Economics is offered at IB and A-level (OCR). We also offer an IGCSE (Cambridge) in Economics as part of the Pre-Sixth Form programme. The department organises a range of visits and activities to enable pupils to relate their studies to national and global events.
All Economics courses taught in the department require students to develop an understanding of the complementary role that market forces and the government may play in both the performance of a particular market and the national economy. They have a strong grounding in micro and macroeconomics, and also explore key aspects of international and development economics.
International Baccalaureate (IB)
The IB Diploma Programme Economics course requires pupils to consider how economic theories and principles can be used to investigate the role and performance of markets, national economies, and the global economy. International trade and development issues are thoroughly explored and evaluated. The course encourages students to develop an international perspective, foster a concern for global issues, and raises pupils’ awareness of their own responsibilities at a local, national and international level. Higher level students must also develop an understanding of quantitative techniques. The coursework requires students to write three commentaries related to microeconomics, macroeconomics and international trade respectively.
A-level Economics allows students to gain an understanding of the key aspects of economic theories and policies. The course is thorough in its treatment of both micro and macroeconomic theories and how they can be applied. Pupils are required to investigate the impact that policies may have on economic agents, and to consider the potential for success of policy decisions. They will also develop the necessary analytical and quantitative skills to progress further in the subject. The development of a critical view of the economic models taught is encouraged.
Pre Sixth Form
The Cambridge IGCSE Economics syllabus develops an understanding of economic terminology, models and theories. Pupils develop an appreciation of how markets work and how they may fail, and of how governments attempt to steer economies to achieve macroeconomic objectives. Pupils also study the economics of population growth and developing nations, and how these interrelate. They also learn to manipulate data and undertake economic analysis, evaluate information and discriminate between facts and value judgments.
Economics is the subject that doesn not greatly respect one's wishes.