Economics
Our aim: To make informed judgements that appreciate the contribution of economics to the wider economic and social environment whilst developing an ability to think as an economist.
The curriculum enables students to understand more about how economies function successfully and how to make decisions based on evaluative judgements. They are able to develop crucial analytical skills around economic theories and be able to contextualise learning into real world scenarios. We currently live in very economically uncertain times and study at any point from Year 9 through to Year 13 engages students to gain broader understanding of the current issues we all face.
Curriculum Overview
Students at King Alfred’s Academy will have the option to start their journey on the study of Economics in Year 9. It is here where they will be initially exposed to Enterprise and Entrepreneurship before they have the option of choosing GCSE Economics beginning in Year 10, or A-level Economics in Year 12. Year 9 Enterprise and Entrepreneurship seeks to develop entrepreneurial and decision-making skills through such tasks as the ‘‘tenner challenge’’ but also is the first exposure for students to learn basic economic principles. All study of economics at King Alfred’s Academy splits into micro and macro theory. Microeconomics focuses on how individual markets function and how governments can intervene to improve society. Macroeconomics focuses on government policy to help improve living standards for all through sustaining economic growth, lowering inflation and unemployment. Wider themes of the curriculum, at GCSE and A Level, also look into international trade, globalisation, development and financial markets. Economics can help make students make better informed decisions based on resource scarcity and cost-benefit analysis. The news plays a huge contribution in bringing the course to life and is a regular talking point within any Economics lesson at KA.
Year 9 topics Enterprise & Economics option
Terms 1-2: Business in the Real World: What is a business & who cares about how they behave? Introduction to Finance & Marketing: How do we measure business performance?
Terms 3-4: Introduction to Macroeconomics: How does a government know if an economy is performing effectively and sustainably? Designing a Business proposal: How do we plan and conduct strategy in Business?
Terms 5-6: The Tenner Challenge: Understanding the importance of Enterprise to the economy & our role within it. Microeconomic principles: How do consumers and producers behave within a market?
Year 10 topics GCSE Economics
Terms 1-2: Economic foundations: What are the main characteristics of markets and what does market competition look like?
Terms 3-4: Price determination: How do the concepts of supply and demand for goods determine their price level?
Terms 5-6: Market failure & government intervention: When should governments intervene in a market to ensure it is functioning for the best interest of all stakeholders?
Year 11 topics GCSE Economics
Terms 1-2: Introduction to the national economy: What are the main Government objectives for the national economy? How does the Government ensure an economy is running effectively and sustainably?
Terms 3-4: International trade & globalisation: Who are the winners and losers of globalisation and how does it affect world economic development?