Economics at Glenalmond College

Economics affects all of us in our daily lives, and the following subjects are covered in the AS and A2 Economics syllabus.

• How much income do you have - what changes the amount of "disposable income" that you have to spend or save?
• Whether or not you will have a job and a source of income  
• The taxes on your income and the taxes on the goods and services which affect the price
• What makes firms invest in and make new products ?
• Government rules and regulations on products - what you can / cannot buy at home and from overseas e.g. : alcohol / tobacco
• You now have the freedom to live, study, work and retire in 27 European countries
• 10 countries joined the European Union in May 2004; 2 more joined in January 2007 - what difference does this make to Europe?
• The value of the £ - and the changing cost of goods and services you will buy on a foreign holiday as a result of the £ changing value
• Should the U.K. join European Monetary Union and start using the Euro like most other EU member states?
• What is the future going to hold for the high debt member states of the "Euro Zone" ?
• The changing price of petrol - what makes the price go up / down?
• Why are U.K. energy bills always going up?
• Why are some goods and services such as electrical goods and budget airline seats often available at such low prices?
• The cost of borrowing money [the rate of interest] and the impact this has on the U.K. housing market;
• What does the Bank of England do?
• How effective are interest rates in directing the UK economy?
• The "credit crunch" and how it continues to impact upon the UK economy
• The quality of public services such as schools and education; the NHS; roads and motorways; public transport 
• Does the U.K deal effectively with the threat of pollution, congestion on the roads and urban development?
• Global warming - how can Economists and Politicians reduce it through intervention in the form of taxation, regulation and legislation?
• Do large companies ever exploit their powerful market position?
• How does the Chancellor of the Exchequer manage the U.K. economy?

• How significant will the emerging BRIC economies of Brazil, Russia, India and China be in the future ?

• Why are there trade disputes between nations such as the USA and China ?
• What are the roles of the World Trade Organisation and the International Monetary Fund ?

Syllabus Specification: Economics

AS / A2 Advanced Level course [OCR H061 + H461]

A combination of discussion and multi-media resources will be used to introduce the main principles of economic theory
and their application to pupils starting the OCR Economics
AS / A2 level specification in September 2010.

The AS Economics course comprises of two modules. These are:
a] Markets in Action and
b] The National and International Economy.

Markets in Action

Analysis is undertaken of the reasons why individuals, organisations, and societies have to make choices about markets for consumer goods and services. In addition, the allocation of limited resources through the interaction of demand and supply is studied and the perceived need for Government intervention through indirect taxation, legislation and regulation is assessed. Social benefits and costs are examined in detail as positive and negative externalities are considered in the context of the provision of public and private services such as health, education and the economy's infrastructure.  

The National and International Economy

Using the context of a national economy, the course investigates several macro-economic topics. Government economic policy objectives and indicators of national economic performance are studied in detail. These include the benefits and costs of economic growth; the influence, significance and management of the economy using monetary, fiscal and supply-side policy instruments; domestic and international influences on the overseas trade sector and the exchange rate; inflation and unemployment. .The syllabus offers the chance to gain an insight into the workings of the UK Economy. Background information is extremely helpful in the early stages of the course

The AS Economics syllabus is divided equally between theoretical work which is academically challenging and requires considerable application from pupils, and contemporary, applied economics which analyses the state of economic data, case studies, trends and policies. There is no coursework or project element in the OCR specification. In the Upper Sixth, two A2 modular units will be studied during the academic year commencing in September 2011. At present, all the Upper Sixth teaching is undertaken by Mr. Robinson. The two modules are a] The Economics of Work and Leisure and b] The Global Economy. Pupils will be expected to develop a variety of skills, such as the ability to analyse, evaluate and interpret data. Many hours of extra reading and note taking from textbooks, newspapers, journal articles and e-information sources will be necessary to supplement the classroom work and deepen the pupils' understanding of the subject.

Recommended entry requirements

At Glenalmond, Economics is not offered at GCSE so all pupils taking the AS course are starting a brand new subject. There is a lot of material to cover and so the lessons tend to move relatively quickly. In order to attain high marks in Economics, pupils need to write with clarity and fluency and are expected to submit coherent, well-structured extended answers. These essay writing skills are developed throughout the course but pupils are recommended to have attained a high grade at GCSE English if they aspire to top grades at AS and A2 Economics. Whilst little in the way of numerical calculations is undertaken during the course, a strong grade in GCSE Mathematics is recommended because pupils should be confident in handling a considerable amount of economic data which has to be understood, explained and analysed.

Recommended Subject Combinations, Careers and Higher Education.

Economics combines well with a range of other AS and A2 options. Very successful combinations have been with Mathematics, English and History. A popular combination is with Geography. At University, Pure Economics can be studied as a Single Honours subject although it contains a strong mathematical and statistical element. However, Economics is frequently combined with Politics, Law or other Social Sciences. The A2 Economics course taught at Glenalmond acts as a very high-powered introduction for all Economics, Business, Accountancy, Financial, Management and Professional Service degree courses and employment.

Economics & Business Studies Department - Academic Staff

Jeremy Robinson is Head of Department. Mr. Robinson shares the teaching of AS Economics with Mr. Erdal. He teaches all the A2 Economics to the Upper Sixth. Mr. Robinson also teaches a small amount of the AS Business Studies syllabus to the Lower Sixth.

Patrick Erdal shares the teaching of Lower Sixth AS Economics with Mr. Robinson.

Peter Golden teaches most of the AS Business Studies syllabus and teaches all of the A2 Business Studies to the Upper Sixth.

News and Events

Support material is available on the Economics and Business Studies Department Virtual Learning Environment. This gives access to e-information. Pupils can access web-sites and subject specific material from anywhere in the world after logging on to: www.glenalmondvle.org.uk and by entering the Economics or Business Studies VLE. Click on the Economics Resources or Business Studies Resources for access to support material, e-information and web-sites from the Bank of England and Tutor2u.

I hope that all of the information provided above is valuable. Further details about courses, pupil intake and examination results can be obtained by contacting JeremyRobinson@GlenalmondCollege.co.uk

 

 

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