Economics

'… the master economist must possess a rare combination of gifts. He/she must reach a high standard in several different directions and must combine talents not often found together.' John Maynard Keynes

Much of the language of Economics is familiar to all of us. Economists discuss issues such as interest rates, inflation, unemployment, the exchange rate and international trade. Economics is a well-established subject taken in the Sixth Form. During the course, students will investigate issues such as the impact of interest rate changes on the housing market and the consequences to consumers of business mergers.

Economics is a valuable academic subject to study and requires hard work and commitment. It is highly regarded by all universities including Oxford and Cambridge. Students must be prepared to do additional independent work beyond what is covered in class in order to enhance their understanding and gain high grades.

Students who have studied Economics have very high earning potential in a variety of jobs including working for banks, the government and organisations such as The World Bank, The United Nations and The International Monetary Fund.

Teachers

• Ms S Boden (Subject Leader - Economics)
• J Wolfson - Economics

Post 16

Economics at Hasmonean is taught at AS/A Level. The course follows the AQA Awarding Body Specification (2140). Minimum requirements for the course are 6 GCSEs A-C with A/B in English and Mathematics. Independent study time is set at 3 hours per week minimum. Additional required reading includes The Economist, The Times Business Section and The Financial Times.

Year 12 (A/S)

At A/S level, students study two units of work:

• Unit 1: Markets and market failure; the economic problem, allocation of resources, government intervention in the market
• The National Economy; How the Macroeconomy works, the circular flow of income, economic performance and macroeconomic policy.

Each unit is assessed over a one-and-a-quarter hour examination. There are both multiple choice and data response questions to answer.

Year 13 (A2)

Students achieving high grades at A/S level may proceed to A2 level in Year 13 where they will study a further two units of work:

• Business Economics and the Distribution of income; Firms, Competitive markets, Concentrated markets, the Labour Market, Government interventions in the market.
• The national and international economy: Macroeconomic indicators, managing the national economy, the international economy

Assessment at this level is by 2 exams of two hours each, made up of both data response questions and essays.

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