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economics

Economics

Introduction to the Subject & Team

The BICTE faculty is staffed by a supportive, creative and imaginative team of thirteen teachers. The BICTE Leadership Team consists of the following staff:

Mr R Rhodes

Mr Robert Rhodes

(rrhodes@ossettacademy.co.uk)

CTL for Business, IT, Media, Economics & Computer Science

Mr J Clegg

Mr Joel Clegg

(jclegg@ossettacademy.co.uk)

Deputy CTL for Economics & Business

 

Our vision is to ensure all students reach their potential across the host of subjects on offer in the BICTE faculty. This can be through the use of practical, taught and real life experience. Students will be supported throughout their learning journey by caring, supportive teachers who will guide them towards success.

Course Content at Key Stage 4

Assessment for the GCSE Economics course comprises of two external exams which are both completed in the May/June exam series, at the end of the course.

 

Unit 11 Personal Economics (50% of overall GCSE grade): 1 hour 15 minutes written exam paper

Personal Economics is split into three main topic areas; money, work and the national and global economy. The unit is designed to introduce students to the basics of managing personal finances, the world of work and the workings and importance of an economy.

Through studying “money”, students learn how to budget and the importance of prioritising spending decisions. Students will also learn about interest rates and how to decide on the most appropriate methods of saving and borrowing money along with the consequences of debt.

Through studying “work”, students develop an understanding of the different methods of payment, pay slips and the reasons why some jobs are better paid than others. Students will also look at the reasons for unemployment and the consequences of unemployment for the individual and society. Finally, in studying “the national and global economy”, students will develop an understanding of the main macroeconomic indicators used to evaluate the strength of an economy; balance of payments, unemployment, growth and inflation.

Unit 12 Investigating Economic Issues (50% of overall GCSE grade): 1 hour 15 minutes written exam paper

Investigating Economic is centred around two pre-released research topics which change annually.

The research topics (which have included poverty, globalisation and the impact of global warming on economies in recent years) offer students an opportunity to broaden their knowledge on a specific aspect of economic theory and to take a lead in their own research project using the internet, news articles, TV programmes and podcasts.

 

Career Opportunities and Progression within the Subject

When preparing for the GCSE Economics exams students will develop key skills including how to analyse theory, how to apply theory to given scenarios, problem solving and how to evaluate potential solutions to problems. These key skills gained through completing GCSE Economics will be readily transferrable to many post 16 courses but the course acts as a particularly good stepping stone to both A-level Business Studies & A-Level Economics.

Students who have studied Economics at A-level and degree level go on to undertake a wide variety of job roles. Some examples of jobs which Economics students may progress towards include:

Accountancy , Business Analyst, Journalism, Teaching/lecturing, Solicitor, Banking

 

How Parents Can Support Learning

  • Children will have a wide range of resources available on the academy network for you to review and provide support.
  • Take an interest in your child’s homework and ensure that they are spending an appropriate amount of time on it.
  • Encourage your child if possible to practise the skills that have been developed in their lessons.
  • During exam season, help them to create a revision timetable which includes specific revision activities to complete. Your child’s class teacher can give them guidance on this.
  • Encourage your child to watch the news on a regular basis to contextualise some of the theory learned in the classroom.
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