Economics & Business Studies

AS and A2

These subjects, at either level, enable candidates to focus on the dynamic nature of the contemporary economic and business world. The subjects inevitably overlap and boys will dip into both subjects, albeit from different perspectives. They both provide opportunities for research into topical issues and offer opportunities for the development and application of a full range of transferable skills. These skills include: carrying out calculations, interpreting and manipulating data, making and presenting arguments, making and justifying decisions, identifying problems and proposing solutions, recognising that a problem exists, conducting research and challenging assumptions.

Business Studies

The average uptake is 20–30 boys each year usually split into 2 or 3 sets. The syllabus followed (AQA 2130) is geared towards problem solving and encourages candidates to develop a critical understanding of organisations, the context in which they operate, the markets they serve and the process of adding value. The key skills required are an ability to analyse written and numerical passages, comment on various sources of evidence and, above all, a willingness to work hard and meet deadlines.

The subject will consider the role of Government, Trade Unions, Investors and the City and the general Political environment that Business has to work in, as well as look at the basics of Accounting and Finance, Marketing, Human Resource Management and Production. By the end of the year pupils should have acquired a firm grasp of the organisational, legal and economic constraints confronting the modern UK business.

The AS units focus on small to medium-sized businesses operating within national as opposed to international markets. They start by covering the issues involved in a business start-up, such as research and planning, as well as the factors that determine success. They go on to focus on how established businesses might improve their effectiveness by making tactical decisions at a functional level.

The A2 units build on the AS units by considering more complex business scenarios and focusing on strategy, as opposed to tactics. They target larger businesses which may be trading in international markets, and deal with how managers might measure the performance of the business. They consider the functional strategies that larger businesses may adopt to achieve their objectives and assess the external factors that can act as catalysts for change. The A2 concludes by examining the ways in which businesses can manage change successfully when responding to external stimuli.

Students are chiefly examined by applying their understanding of business principles to vocational case studies. Examinations at AS include a mixture of short answer questions, extended response questions and multi-part data response questions. A2 sees the addition of pre-release research tasks and essay questions.

Boys are issued with a core text but are encouraged to read around the subject and to make use of alternative resources such as The Times 100 Case Studies and biz/ed to augment their studies.

Economics

On average 35–40 boys study the subject each year split into 3 or 4 sets. The theoretical nature of the subject and the use of mathematical modeling in further study mean that boys taking this subject could find themselves at a disadvantage without a genuine strength in Maths (at least grade B at the GCSE Level). All boys follow the OCR syllabus.

The AS year covers the basic principles of the subject. On the Micro side they will be introduced to the basic tools of Supply and Demand and then apply them to various market situations such as the property market or the labour market. Boys will face essay titles in the first term such as 'How can the government use taxes to solve problems of pollution?' In addition students will consider why the free market fails at times and consider the wider role of the government in the economy. On the Macro side a study of the UK economy will consider key topics such as Unemployment, Inflation, Balance of Payments and Economic Growth from a government policy point of view.

In the A2 year an in depth study of Industry, Finance and the Workplace will partner a detailed look at the Global Economy. One side of this final year will principally focus on understanding and analysing labour market concepts and issues. Leisure industries are considered in terms of models of market structure and the way leisure needs can impact on the supply of labour. The other side provides the conceptual framework for the understanding, analysis, and evaluation of macro-economic performance in national, regional and global contexts. The key topics are comparative economic performance indicators and policies, trade & integration, development & sustainability and the economics of globalisation.

Students are chiefly examined by demonstrating their understanding of economic principles and applying what they have learnt. Analytical and evaluative ability will be the main focus of the testing. Examinations at AS include a mixture of short answer questions and extended response questions based on a data response format. A2 sees the addition of advanced preparation of pre-release material and the introduction of essay questions.

Boys are issued with a core text but are encouraged to read around the subject and to make use of alternative resources such as tutor2u and other Internet sites.

Extra-curricular

We enter a number of teams each year in the Pro Share Investment Game where boys compete in groups of four against schools from all over the country to put together and manage a portfolio of shares.

Trips to subject related conferences give exposure to a wide variety of speakers promoting lively debate and adding an extra dimension to the learning experience on offer to the boys.

We also endeavour to bring in outside speakers whenever possible. This provides the boys with a genuine insight into the working environment of the speaker, and often proves to be a very different reality to that pre-supposed by the boys.