Micro-economics is the study of how individuals, organisations, and countries have to allocate their resources and make choices about whether to supply consumer goods and services or put more emphasis on the provision of capital investment - buildings, machines, infrastructure and resources such as schools, hospitals and transport services.
It is the study of how and why a Government might intervene through regulation, taxation or the provision of resources in order to create a more desirable outcome for the benefit of society.
Macro-economics investigates Government economic policy objectives and indicators of national economic performance such as the benefits and costs of economic growth and 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 such as the exchange rate are analysed and topics such as inflation and unemployment are also studied.
AS [Lower Sixth] and A2 [Upper Sixth] pupils follow the OCR Economics course. Four units are studied in total over the two year course. At AS, the introductory Markets in Action micro-economic module is complemented by the macro-economic National and International Economy module. At A2, The Economics of Work and Leisure is followed by study of the synoptic and challenging Global Economy unit.
A GCSE short course following the AQA syllabus is available for International pupils who join the 5th Form. This focuses on Money, Work and the National and Global Economy.
Jeremy Robinson is an experienced Head of Department having taught at independent boarding schools in Bristol; at Canford School in Dorset and The King’s School, Parramatta, Sydney, Australia, before being appointed to Glenalmond.
Peter Golden moved from Felsted School, Essex when appointed to be the HM of Goodacre’s. A textbook author and I.B. Assessor, Peter provides a wealth of Business Studies and Economics teaching experience within the Department.