Economics

P J Connery, MA, BA (Head of Department)
Miss C E Rhodes, BSc

Why Economics?
• Knowledge of Economics is a sound preparation for citizenship as it includes a study of consumers and firms, money and interest rates and unemployment and inflation; much of the current political debate concerns economic issues.
• It provides a thorough intellectual training involving a wide range of academic skills.
• Economics can be effectively combined with many A levels or university courses.  Examples include maths and science subjects (Economics and Engineering, Economics and Maths), modern languages (Economics and French, Economics and German) for work in the ever expanding European Union, and social sciences (PPE, Economic History and Law courses).

The Course
Economics looks at the individual components in an economy (microeconomics) as well as the economy as a whole (macroeconomics).  This involves examining the interdependence of economic agents such as the government, consumers, firms and employees; as well as studying the factors which influence the whole economy such as inflation, interest rates and exchange rates.

Emphasis is placed on the ability to understand and analyse the causes, significance and implications of these factors.  This necessarily involves the use of some theory, but at all times the theory is related to practice and data response.  Real world illustrations and project work form an important part of the course.

The course is split into 4 units, 2 of which are studied in each of the Lower Sixth and the Upper Sixth.  These are:

• Unit 1: Introductory Microeconomics – has 25 multiple choice questions and two data response questions, of which candidates answer one (25%).
• Unit 2: Introductory Macroeconomics - has 25 multiple choice questions and two data response questions, of which candidates answer one (25%).
• Unit 3: Advanced Microeconomics – contains one data response question and three essay questions, of which candidates answer one (25%).
• Unit 4: Advanced Macroeconomics – contains one data response question and three essay questions, of which candidates answer one (25%).

Entry Requirements
• An interest in current affairs and a willingness to work hard.
• Intellectual curiosity and the ability to support individual judgements are desirable qualities.
• Numeracy and the ability to write clearly are important skills – B grades or above in English and Mathematics or Business Studies GCSE are required.

Department Strengths
• The teaching staff is well qualified, very enthusiastic and responsive to the needs of students.
• The Department has a proven track record of very good examination results and Oxbridge success.
• The Department is well resourced and makes good use of topical data and issues.

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