Economics GCSE at Sandwich Technology School
Why study this subject?
This subject content looks at economic activity through the lens of consumers, producers, government and the workings of the global economy. As students go through the course they’re presented with opportunities to focus on real-world issues. Students should consider and reflect upon moral, ethical and sustainable issues that arise as a result of the impact of economic activity. Students will use their economic knowledge and skills to investigate national and global economic situations and issues from the last 15 years. Students should also be aware of the policies that governments have used to attempt to manage these situations and issues. Students will develop quantitative skills relevant to the subject content. They should be able to make relevant calculations from economic data and be able to interpret data presented in the form of graphs and charts. Students should be able to recognise the possible limitations of both quantitative and qualitative data.
There are two units of work that students will study including:
- Unit 1– How markets Work
Students investigate the significance of costs, revenue and profit for producers, leading to an understanding of the concepts of production, productivity and economies of scale. Students will then explore the importance of competition in relation to resource allocation, leading to an investigation of the factors that lead to market failure, with an emphasis on the significance of externalities.
- Unit 2 – How the Economy works
Students explore the significance of interest rates including their impact on saving, borrowing and spending. The core of this unit will focus on government objectives and their role in managing the economy. A range of policies will be explored in relation to the objectives, highlighting the fact that pursuing one objective can have a detrimental effect on other objectives. Students also examine why countries trade, and the significance of the global economy, including free trade agreements. Finally, students will explore the role of money and the significance of the financial markets in modern economies.
You must have achieved a Level 3 in Mathematics to study this course
This qualification is linear. Linear means that students will sit all their exams at the end of the course
There are two externally assessed examinations which are both equally weighted and worth 50% of the GCSE each.
How to apply
You can apply for this course through UCAS Progress. Add this course to your favourites so you can start making an application.