Economics

  • Commitment to excellence
  • To stimulate and maintain student curiosity, interest and enjoyment in Economics
  • To enable students to be familiar with economic and industrial knowledge, principles, skills and vocabulary, enabling students to make critical and judgmental micro and macroeconomic decisions
  • To provide students with a learning framework which will raise their expectations and maximise their individual potential
  • To enable students to understand and use investigative methods
  • To enable students to work both independently and as part of a team, taking responsibility for their own learning
  • To employ teaching methods and resources that allow students to have learning opportunities in Economics, experiencing success and enjoyment in their work
  • To enable students to apply micro and macroeconomic skills in the context of a wider learning environment
  • To develop an awareness in students of the implications of the economy for the individual, the community and the environment

A level

From 2015/16, the A level is structured into four coherent themes to support teaching and learning:

  • Theme 1 introduces students to markets and market failure
  • Theme 2 introduces students to the UK economy, focusing on performance and policies
  • Theme 3 explores business behaviour and the labour market
  • Theme 4 considers a global perspective

Extra-curricular

The department runs an Economics Society. Student apply to do various roles and are involved in organising talks, helping younger students and taking part in the Bank of England and The Times Target 2.0 Interest Rate Challenge Competition. Students then mirror the role of the Monetary Policy Committee members at the Bank of England, deciding on interest rates and quantitative easing, in order to meet the inflation target set by the Chancellor of the Exchequer. Students have gone on to the regional final producing work to a national finalist standard.

Further activities include the IFS Student Investor Challenge. Students are given a fictitious £100,000 to invest in a share portfolio over 3 months. Teams from the school have regularly gone on to the regional final. This competition is open to all students from Year 10 and upwards.

Students also have the opportunity to take part in essay writing competitions. The most popularly subscribed competition has been the Royal Economic Society Essay Competition In the past one student made it to the list of highly commended essays in the country. The RES Essay competition is an excellent preparation for students wishing to study Economics at top universities.

Students interested in working in finance, accounting, business and/or banking are encouraged to take part in the Institute of Chartered Accountants in England and Wales BASE Finance Competition. They are given a case study and will have to review and implements new strategies for a firm, competing against teams from other schools.

Trips

Lower Sixth goes to London where they visit the Bank of England and two think tanks: The Adam Smith Institute and the Tax Payers’ Alliance. These visits not also give students a practical appreciation of monetary and fiscal policy formulation, implementation and review, it also provides them with insights into the complexities of theories studied in class.

Upper Sixth students visit the Jaguar factory in Birmingham. Here they have the opportunity to learn about the marketing and production strategies used by a globally competitive premium market segment automotive manufacturer, appreciating how these relate to cost and revenue diagram changes and other advanced microeconomic theories and concepts.

Other

Young Enterprise is coordinated by the department. Students set up their own business and compete against other teams locally, regionally and nationally. They learn about all the functions of a business, and formulate, implement and review their business strategies. At the end of the year they produce a report and presentation to judges from Young Enterprise. The school has won a range from prizes in the past based on our entrepreneurial flair and ability to make a lot of money. Young Enterprise is open to all students in Year 12, not just those who do Economics.