Economics and Business
Mr R Otley BA (Hons)
Head of Economics & Business
In Economics and Business the emphasis in the classroom is on developing analytical abilities, encouraging argument from different standpoints and critical examination of data. Both subjects are challenging and rewarding with a sound basis in academic study as well as the excitement of dealing with topical issues.
Both A-level Economics and Business courses follow the AQA specification with exams at the end of the two years.
In A-level Economics the syllabus deals with concepts of micro and macroeconomics. You will develop an understanding of the world based on demand and supply factors whilst also discussing the core methods of government intervention in failing markets. Should education and healthcare be provided by the government or through market forces? Should the Bank of England raise interest rates? Is austerity the best way to achieve economic growth? Should the minimum wage be increased – or abolished?
To study Economics you are expected to have achieved a grade 7 or above at GCSE Mathematics; additionally most Economics degrees require A-level Mathematics.
In A-level Business, you will study the four functional areas of Finance, HR, Marketing and Operations. Problem solving skills are paramount; how can small firms compete with online giants such as Amazon? How can the rise of the discount supermarkets such as Aldi be explained? Do emerging markets such as China still offer Western firms an opportunity for increased profits? Exams are case-study based and requires you to perform the role of a consultant to the firm in question.
You are expected to engage in this ‘current affairs’ subject and are given the opportunity to subscribe to the Economist at a much reduced rate. Theory studied in the classroom is topical based. Many students make excellent use of the @COLFESeconomics twitter feed. At the end of Year 12, you are given the opportunity to enter essay competitions through the Royal Economic Society, Cambridge University and the IEA.
A-level course details: