The aim of the Business & Economics curriculum is to ensure all students have a deep knowledge and understanding of economics, business processes, have a thirst to explore and understand the wider world, so students are equipped to manage finances, understand supply and demand and be able to set up their own businesses.
We aim to develop students’ entrepreneurial flair along with their economic awareness; personally and on a local, national and international scale. In an ever-changing employment landscape, we endeavour to inspire young people to think dynamically, to become solution orientated to plan for economic success.
A common question asked is the difference between business studies and economics. They are two closely linked areas of study and they complement each other nicely for those wishing to take both as options. However, it is important to understand the difference to help you decide which suits you the most.
Economics is the study of scarce resources; there are finite amounts of resources on the planet, and infinite wants, therefore in economics we study the decisions made by consumers, producers and the government as to how best to produce and distribute these finite goods . As such, Economics is more than just the study of money, finance or the economy.
Some of the questions that economists study include:
- How to help billions of people who live in poverty?
- Can appropriate policies be designed to save the environment without sacrificing economic growth?
- Should governments tax the rich more to reduce income inequality?
GCSE Economics students will need to regularly apply mathematical calculations to their work and as such we express the importance of confident mathematicians choosing to study this subject at GCSE level.
There are two 105 minute exam papers worth 50% each; both of which take place in June of year 11. The exam papers consist of a range of multiple choice, short and longer answer questions; building up to a 15 mark essay at the back of each paper. Paper one focuses on how markets work, whereas paper two focuses on how economies work.
The 15 mark essay requires students to apply theoretical knowledge to an unseen case study. Students opting to study economics often develop a keen interest in current affairs and politics, which enables them to readily contextualise their knowledge to real world decisions being made by producers and the government.
GCSE BUSINESS STUDIES
This GCSE Business course equips students with the skills and confidence to explore how different business situations affect decision-making. They develop their understanding of concepts, objectives and terminology, and the impact of contemporary issues on business operations. The course will challenge the students to become critical thinkers as they are able to assess the economy around them and make key decisions so a business supports and thrives within that economy. The knowledge and skills gained from this GCSE will provide our students with a firm foundation and with lifelong skills to study Business and or Economics at higher levels.
“Don’t sit down and wait for the opportunities to come. Get up and make them.”
Madam C.J. Walker, first female self-made millionaire
“If you push through that feeling of being scared, that feeling of taking risk, really amazing things can happen.”
Marissa Mayer, businesswoman and investor
Assessment and feedback
- 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 3 topics studied per year. These are exam style questions that cover all the knowledge the students have learnt per topic. However, there are regular in-class assessments, including key terms tests, multiple choice assessments on Teams and 6,7, and 9 maker exam questions. Students will also be expected to complete Seneca activities and Quizlet tests as part of revision and homework.
Summary of Pathways to choose from:
|GCSE Business||GCSE Economics|
2x 90 Minute ExamsExams are sat in June of year 11
2 x 105 Minute ExamsExams are sat in June of year 11
|You might choose this course if…||You are interested in how businesses are run.|
You prefer exam-based assessment to project based assessment.You would like to study an A Level in Business at college.
|You are a confident mathmatician and have an interest in the impact producers, consumers and the government have on the economy.|
You prefer exam-based assessment to project based assessment.
You would like to study an A Level in Business at college.
Please see Subject Policies/Plans.