KS5 Summary: Economics
At its heart, economics is about understanding how resources are used; whether by countries, businesses or individuals. Students that study economics at Bridge will be able to gain a far deeper understanding of issues that face us as a society today. This includes:
- How to address poverty and inequality both in the UK and internationally
- How to tackle climate change
- How to ensure that the UK remains internationally competitive in terms of its use of technology and the skills and training of its workforce
- How major geopolitical events such as Brexit and international conflicts affect our day-to-day lives in the UK
- How the government should deal with products that have the potential to harm society (alcohol, cigarettes, fossil fuels etc.)
As you can see from the list above, economics is a very rich subject which covers a wide range of important issues in the world today. It is not just studying money and banks! In fact, that makes up at most about 10% of the course. As such it is an excellent subject to study in combination with other social sciences and humanities (including History, Psychology, Sociology and Politics). It is also very highly valued by universities and apprenticeship programs because of its academic rigour and its strong links with other academic subjects.
Curriculum Map
Year 12
|
Term 1 |
Term 2 |
Term 3 |
|
Demand and supply The UK’s Macroeconomic objectives |
Market failure UK Government Policy on the Economy |
Revision for end-of-year assessments Market Structures (including monopolies and oligopolies) |
Year 13
|
Term 1 |
Term 2 |
Term 3 |
|
Labour markets National minimum wage Trade unions |
International trade Exchange rates Economics of developing countries |
Revision for A-level examinations |
How can I succeed in economics?
Economics is an essay-based subject which is assessed by three 2-hour papers at the end of year 13. There is no coursework.
Revision questions and materials will be provided in lessons for each topic and, to succeed, students should make sure they work through these thoroughly and to the best of their ability. In addition, past exam papers and mark schemes can be accessed through the OCR economics website: https://www.ocr.org.uk/qualifications/as-and-a-level/economics-h060-h460-from-2019/assessment/
Finally, the resources below can be used to build a broader understanding of the subject. This is important for students aiming for an A or A*.
Resources for learning more about economics
Economics: The User’s Guide – Ha-Joon Chang
This is an excellent introductory book on economics by one of the world’s leading economists and professor of economics at the University of Cambridge – Ha-Joon Chang.
The Financial Times
Available in news agents and online, the Financial Times contains analysis of current events with an emphasis on the economy.
EconplusDal (Youtube Channel)
This youtube channel by an experienced economics teacher contains excellent videos to help you to revise A-Level economics.
This website contains revision resources for economics at both A-Level and GCSE.