Economics

The Purpose

Economics requires students to be problem solvers, understand finance, be able to deal with data and enjoy a challenge. This essay-based subject looks at the world in which businesses live and survive. They will look at external factors that affect the economy such as interest rates and inflation. Students that will excel in Economics will have an interest in keeping up the news, enjoy maths as this subject with stretch you academically and challenge you intellectually.

Content overview	Assessment overview
How markets Work; 1 Economic foundations, 2 Resource allocation, 3 How prices are determined, 4 Production, costs, revenue and profit, 5 Competitive and concentrated markets, 6 Market failure	Economics 1: How markets work – 80 marks 1 hour 45 minutes paper 50% of total GCSE
How the economy works; 7 Introduction to the national economy, 8 Government objectives, 9 How the government manages the economy, 10 International trade and the global economy, 11 The role of money and financial markets.	Economics 2: How the economic works – 80 marks 1 hour 45 minutes paper 50% of total GCSE

Key Stage 4

KMA Economics Learning Journey

Assessment and feedback

In Year 11 there are 3 Summative Assessment tests called mocks. In Year 10 there is one mock at the end of the year. These are cumulative in nature and the purpose is:

To confirm the track point of the student
To promote longer term recall by testing earlier topics and to meet the demands of a linear course.

There are ‘End of Unit Tests’ for each of the topics studied per year. These are exam style questions that cover all the knowledge the students have not only learnt in that topic but will be cumulative and have a number of questions from previous units. However, there are regular in-class assessments, including key terms tests, multiple choice assessments on Satchel one and 6, 9 and 15 marker exam questions. Students will also be expected to complete multiple-choice questions on Satchel One as part of revision and homework.

Feedback is given regularly by class teachers in the form of marked assessments, verbal whole-class feedback or one-to-one advice.