Economics is studied at AS Level in Year 12 at A2 level in Year 13. In Year 12 AS level students are introduced to micro and macro economics. In Year 13 A2 level students develop their micro and macro economics through wider study and more detailed analysis and evaluation.
In Year 13 Economics is studied through the context of the European Union and the Global Economics.
Key Stage 5
25% of overall markStudents 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.
25% of overall markStudents 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.
Head of Department: -
25% of overall markStudents 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.
25% of overall markDetailed study is made of the Government managing the National Economy together with a study of International Trade and Exchange Rate Determination.
In Year 12
Student's take part in the opportunity to 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 which are held at the Bank of England in London. 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, 2009-10 and 2012-13 we were regional runners up.