What is Economics? Your guide to success!!

What is the course about? Economics is sometimes described as a social science. Economics is the study of how groups of individuals make decisions about the allocation of scarce resources. For example, how can England reduce poverty? Is the war in Iraq just about oil? Economics tries to answer these questions. You will be required to complete 2 examinations in yr in January and 1 in June.

AS Economics - The facts Examinations Unit 1: Competitive Markets — How They Work and how they fail At the end of this unit you will be able to understand how the price mechanism is a means of allocating resources. You will investigate why markets might not allocate resources efficiently and discuss different methods for dealing with market failure. Unit 2: Managing the economy You will probably find this the most interesting unit as you will research and discuss various government policies used to boost growth and reduce unemployment.

What are the Exams worth? Unit 1: 50% of AS grade or 25% of Final A2 grades. Unit 2: 50% of AS grade or 25% of Final A2 grades. Unit 3: 40% of Final A2 grade Unit 4: 60% of Final A2 grade

Text books There are a range of books available:

Useful resources Two of the most suitable resources available to A’ Level Economic students are Economics Today and Economic Review publications. Both publications provide model answers and up to date economic material. They also provide examiners comments and methods of maximising grading potential. They cost £8.75 for 4 publications. They are definitely worth it.

What skills will I need to do this course? Apart from the usual entry requirements to get into JRCS 6 th form, you will need to… Be able to respond to current events The ability to follow instructions and work independently An understanding of current events will help, but not essential. A professional approach

What skills will I have at the end of the course? A good sound knowledge of the U.K Economy Analytical skills Independent study skills Presentation skills Time management skills You will study economics in lessons for 5 hours a week and then also be expected to do homework and independent study.

How can I be successful? Economics is one of the most demanding A’ level courses. In order to be successful you must fully understand economic theory and relate to case study material. Detailed notes and diagrams will therefore be required. An understanding of the British Economy will also be beneficial.

Where will this course take me? On to University or Further Education It will give you the basic economics skills that a lot of employers will look for. For more information, check out the edexcel website. Follow the link:

Remember Economics is an excellent qualification that allows you to keep your options open. Studying Economics at 6 th form doesn’t mean that is what you have to go on to do afterwards either as a career path or in further education, but many of our students do choose this path. A wide range of career options are available to students who study economics.

Progression to Higher Education/ Vocational Destinations Economics is extremely well regarded by both universities and employers alike. Students seeking a career in banking, finance, accounts, insurance or any other “City” profession should seriously consider this subject. In short, Economics is both a prestigious and well regarded qualification.

Suitability for Combination Economics combines well with any subject offered within the sixth form. It is an excellent “bridge” between the arts and sciences and especially compliments subjects such as History, Politics and Mathematics.

Other useful resources The school Intranet site has a number of useful economic presentations by Geoff Riley. They are very useful for understanding economic theory and principles. You will be able to find them under the economics link. Other useful websites are:

For more information on this or any of the economics courses on offer at JRCS. Please speak to one of the Business Team. Mr Murray Miss Howe Miss Wright Mr. Mc Ardle