Economics

GCSE Results Information

Now you have received your GCSE results, use them as a guide to your overall strengths before making a decision on your A Level subject choices.

Economics and Business are both essay-based subjects. This means your ability to write clearly, build arguments and evaluate ideas (skills shown through English and other written subjects) is arguably more important than your mathematical ability!  The nature of maths applied to Business and Economics A-Levels can be found in the respective specifications and is generally considered to represent GCSE level ability.  The assessment of these skills represents a minimum of 10% of the overall marks for Business A-Level and a minimum of 20% for Economics A-Level.  The rest is essays!

Economics tends to suit students who enjoy analysing how government decisions affect everyone.  The course follows the AQA specification and is split into Microeconomics and Macroeconomics.  Both sides of the course are taught concurrently throughout. Economics is particularly suited to those who are fascinated by current affairs, such as climate change or international trade​.  It addresses some of the biggest issues in the world today, so you will need to be prepared to dig deep into their fundamental causes, to debate and to make well-informed decisions.  An eye for detail is therefore imperative, but so too is the ability to think laterally.

Business is often preferred by those who like to apply practical advice to real companies.  The course follows the Edexcel specification and is split into four themes:

  1. Marketing & People

  2. Managing Business Activities

  3. Business Decisions & Strategy

  4. Global Business

This course is for students who are drawn to problem-solving.  You will enjoy thinking strategically as well as tactically, providing practical advice to real companies and articulating recommendations.  Case study evidence takes centre-stage; no two companies are the same and therefore analysis of the specific business is needed before providing an answer. 

If you achieved strong grades across a variety of different subjects, you might of course consider taking both.  This is completely fine!  Ultimately, your choice should reflect your strengths across both written and analytical skills, together with your interests, curiosity and future ambitions. 

If you are unsure on your choices before beginning your A Level journey at Salesian College, please contact nashj@salesiancollege.com

Why study Economics?

Economics is an extremely popular subject. It is useful for a wide variety of university courses and, of course, for the world of work. It is concerned with day-to-day issues affecting us all and students, therefore can relate to the concepts covered.

ECONOMICS AT A LEVEL

In Economics, the overview of the economy is seen as the most central subject with analysis of its constituent parts, producers, consumers and financial institutions seen as areas for study within it. The approach to Economics is to apply economic theory to support analysis of current economic problems and issues, encouraging students to appreciate the interrelationships between microeconomics and macroeconomics. Microeconomics looks at the individual markets in depth (e.g. the labour, leisure or housing market), whereas macroeconomics focusses on the economy of the nation, the EU and how the government might try to manage it.

Why at Salesian College?

Salesian College offers excellent facilities in which to study Economics. The students learn in an extremely hospitable environment. Students are challenged both in and outside of the classroom.  Visits include a tour of the Bank of England, Economics In Action Seminar in London and an Economics focused residential visit.  The teachers have an abundance of knowledge and expertise, gained from previous real world work experience.

What does the Economics course involve?

Economics follows the AQA syllabus and is examined via three papers at the end of Year 13:

  • Individuals, firms, markets and market failure
  • The national and international economy
  • Synoptic economics which covers both macroeconomics and microeconomics

Assessment: Paper 1 = 33.3%
Assessment: Paper 2 = 33.3%
Assessment: Paper 3 = 33.3%

Skills required

As a student of Economics you will need to be interested in the economy and current affairs and researching into current issues yourself. A student should have an ability in Mathematics and calculation work in particular is needed. An ability to write in clear English is also required. The understanding of concepts, terminology and theory are the key to success.

What the Economics Department offers in teaching and resources

All students learn in a well-resourced centre, with an extensive reference library in the department. Throughout the course, material is examined from textbooks, case studies, magazines and quality newspapers. Current affairs programmes are also important as well as up-to-date documentaries following topical issues.

What is expected from Economics students?

You will be expected to have a keen interest in the economy and what is going on in the world by reading and watching current events. Ultimately, you must apply your knowledge outside of the classroom environment each and every day to get the most from the course. You will be expected to be proactive with work and complete it on time.

What can an A Level in Economics lead to?

Many students go to university to follow courses in Economics or Business related subjects, for example, Accountancy, Economics, Government, Banking, Insurance, Finance, Operations Management, Actuarial Studies, Management Accounting, Marketing, Personnel and Recruitment.

If you have any further enquiries, please email Miss Saffron Owen, Head of Economics and Business Studies, at sowen@salesiancollege.com