Economics rijjed investor 2019

Business/Economics

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Welcome

"Today we have economics that need to grow, whether or not they make us thrive. What we need are economics that make us thrive, whether or not they grow" - Kate Raworth, Doughnut Economics. 

What We Do

The study of GCSE Business and A-Level Economics provides students with valuable analytical tools and skills to critically examine how businesses and societies organise themselves to meet their objectives and understand the impact of business and economic decision making on wider stakeholder groups and the environment. 

Theories, models, norms, and values in both disciplines are being tested as never before, with the pressures of geopolitical shift, climate change and pandemics visiting a period of disruption, introspection and fresh thinking by academics and decision makers. Now, more than ever, it is vital to nurture our students' intellectual curiosity and scholarship, pushing them to think creatively about tackling these defining challenges of our time, as well as the attitude, character and leadership skills to propose and effect positive change. 

Economics and Business are often perceived as students that enable students to maximise private gain, but at CGS, the intent is quite different: challenging students to examine their core values, and how they might use their learning for moral purpose, to make decisions that reduce inequility and promote sustainability, and help shape a society where citizens can thrive. 

KS4

Edexcel GCSE Business is split into two themes. The first half of the course (Theme 1/Paper 1 - Autumn Y9 to Spring Y10) encourages students to think as entrepreneurs, concentrating on the key business concepts, issues and skills involved in starting up and running a small business. 

Theme 1/Paper 1: Introduction to Small Business (50%)

  • Enterprise and Entrepreneurship 
  • Spotting a Business Opportunity 
  • Putting a Business Idea into Practice 
  • Making the Business Effective 
  • The External Influences on Business Activities 

The second half of hte course (Theme 2/Paper 2 - Summer Y10 to Spring Y11) examines how business develop beyond the start-up phase, emphasising the role of marketing, operations, finance and human resource management in growing the business. The course also examines the impact of the wider world on the decisions a business makes as it grows. 

Theme 2/Paper 2: Building a Business (50%) 

  • Growing the Business 
  • Making Business Decisions 
  • Making Operational Decisions
  • Making Financial Decisions 
  • Making Human Resources Decisions 

With the extra year at KS4, GCSE Business provides students with opportunities to explore business topics in much more depth and apply their learning in practical contexts, through taking part in simulated and real-world business projects. In an era characterised by human-induced climate disruption and escalating environmental degradation, and social unrest driven by inequality, 'business as usual', is just not an option. In addition to building in opportunities for collaborative work, teachers have been highlighting and enhancing elements of the curriculum relating to environmental and social goals. 

 

KS5

Economics is a social science that studies how we make choices about using the resources that we have and the impact of these choices on each other. The basic economic problem is that our human wants are potentially infinite, but we have a limited range of resources at our disposal. Recent events, including the pandemic, Black Lives Matter movement, and climate change have exposed our ability to make decisions that can sustainably meet the needs of people and the environment. We study how individuals, businesses and governments make decisions and consider the impact of these on the wider economic and social environment. This course enables students to develop an understanding of a wide range of economic concepts, from different perspectives, and the ability to use these to clarify, debate and propose solutions to economic problems. 

In Year One, students build their understanding of economics 'toolkit' that they will need in micro and macroeconomics, before using this toolkit to analyse and evaluate economic problems in more depth in Year Two. The course is designed to scaffold concepts and to keep returning to them, adding further complexity and depth each time. 

Theme One: Introduction to markets and market failure - Autumn Y12 to Summer Y12 

  • The nature of economics
  • How markets work 
  • Market Failure 
  • Government intervention 

Theme Two: The UK economy - performance and policies - Autumn Y12 to Summer Y12 

  • The nature of economics 
  • Measures of economic performance 
  • Aggregate demand 
  • Aggregate supply 
  • National income 
  • Economic growth 
  • macroeconomic objectives and policy 

Theme 3: Business behaviour and the labour market - Summer Y12 to Spring Y13 

  • Business growth 
  • Business objectives 
  • Revenues, costs and profit 
  • Market structures 
  • The labour market 
  • Government intervention 

Theme 4: A global perspective - Summer Y12 to Spring Y13 

  • International economics 
  • Poverty and inequality 
  • Emerging and developing economies 
  • The financial sector 
  • Role of the state in macroeconomy 

The nature of economic decision making and its impact on social and environmental goals is explored throughout the course, for example through detailed study of inequality, of opportunity, income and wealth - within the UK and globally between countries, as well as the environmental impact of and limitations to economic growth. 

There is an implicit bias in many introductory economics courses (A level economics is no exception) towards market driven solutions and the minimisation of government intervention, and this bias is addressed at CGS through consideration of heterodox approaches wherever possible, and an emphasis on 'government success' (through intervention and investment) as well as 'government failure' 

Scholar programme: studnets are encouraged to read and study as widely as possible around the subject, with significant additional resources signposted on OneNote and Teams posts, as well as resources in the library:

  • Current event links 
  • Reading lists 
  • 'Long reads'
  • EPQ reading lists 
  • Maths for economics courses 
  • EdX and Institute for New Economic Thinking online courses
  • Rethinking Economics online conference 
  • Student challenges: RES Young Economist of the Year, Young Financial Journalist, John Locke Institute Essay Competition