Year 12 (AS level)

Econ 1
25% of overall mark
Students are introduced to micro-economics. Demand and supply are studied to explain how goods are allocated in the market economy. Market failure and reasons for government intervention are studied.

Econ 2
25% of overall mark
Students are introduced to macro-economics and the Government’s four principle  macro-economic targets of Economic Growth Low Inflation, Low Unemployment and a balanced current account. How the Government uses Fiscal Policy (taxation and government spending) and the Bank of England uses Monetary Policy (internet rates) to influence Aggregate Demand. How supply side policies can be used to increase aggregate supply to achieve macro-economic targets.

Year 13

Econ 3
25% of overall mark
Students study different models of business competition and reasons for the unequal distribution of income. The impact of Trade Unions and Government policies to reduce inequality are studied including the minimum wage.

Econ 4
25% of overall mark
Detailed study is made of the Government managing the National Economy together with a study of International Trade and Exchange Rate Determination.

Economics - Extra Curricular Activities

In Year 12

Students take part in different master classes at Aston University

In Year 13

The Times/Bank of England Target 2 point zero competition by taking the role of the Bank of England’s MPC (Monetary Policy Committee) making a 15 minute presentation on the state of the British Economy and then recommending an interest rate which aims to meet the Governments inflation target of 2% and then answering questions about the state of the economy asked by members of the Bank of England and Times Journalists.  In the latter rounds this has included members of the MPC.

In 2001-2  and 2007-8 WGHS reached the National finals in 2001-2 we achieved 3rd place (winning £3000.00)

In 2003-4, 2006-7 and 2008-9 WGHS  reached the Area finals, 2003-4 we were runners up in the Midlands/Yorkshire & Humberside Area, in 2006-7 and 2008-9 the Midlands/Wales & South West.  In 2002-3 and 2009-10 we were regional runners up.

Economics - Useful links