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Economics

Why Study Economics?

Economics tries to answer many everyday questions:

  • Why has Netflix increased prices for UK customers?
  • Why has Apple launched its own TV streaming app?
  • Why are house prices increasing?
  • Why do footballers earn more than firefighters?
  • Why are some countries richer than others? How can Economics address the war on plastic?
  • How can we reduce (childhood) obesity?
  • What are the solutions to long term unemployment?

Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The study of economics helps us analyse possible solutions to help us make better choices.

The Course

The course is Pearson Edexcel Economics A (2015).

In Year 12, students will study both microeconomics and macroeconomics. They will cover the basic economic principles of scarcity and choice, supply and demand and how governments can intervene to solve problems such as pollution and obesity. Macroeconomics focuses on the national economy and students will learn about policy objectives and indicators such as economic growth, inflation and unemployment.

Year 13 builds on the micro and macroeconomics taught in Year 12. Microeconomics focuses on how businesses compete and set prices, how the job market works and how competition can be encouraged. Macroeconomics takes a more international focus and analyses globalisation, trade and the economics of developing countries. We will also study the financial sector and the public finances. Use of Jersey, UK and international examples will underpin our study of the whole course.

There is no coursework and the A level course is examined in three papers at the end of Year 13.

What background do I need?

Economics is an exciting, dynamic and academic subject that complements the study of other subjects such as geography, politics and history. To succeed in economics you should be able to think logically and write fluently when developing a line of reasoning, have reasonable levels of numeracy to interpret data and graphs and will be skilled at using relevant theory to identify and analyse trends. A good economist will have an interest in current UK and world economic issues and be willing to share their opinions about how economic problems can be solved.

Students who wish to study single honours economics at university are strongly encouraged to take Mathematics A level.

Opportunities

Recent visiting speakers have included speakers from the Bank of England to discuss monetary policy and one of the founders of the SCOOP cooperative to discuss sustainability and closed loop economies. Students are invited to the annual Investec Investment briefing and they also take part in a study visit to St Helier to investigate how business compete.