Economics
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Economics

Economics, Business, and Enterprise faculty offers a variety of qualifications at Sandringham School, from Year 9 to Year 13.

The faculty comprises:

  • Martin Young – Director of Learning
  • Caroline Creaby – Deputy Headteacher
  • Caroline Hurley – Teacher
  • Vikki Borman – Teacher

In Year 9, students get their first experience of the faculty through an Enterprise Module, where students learn about basic principles of business and enterprise, and work in teams on a variety of challenges:

  • Enterprise Module:
    • Autumn: Real Business Challenge
    • Winter: Tactical trading
    • Spring: Stocks and Shares trading
    • Summer: The Apprentice Challenge

In Year 10 and 11, students can take either GCSE Business or GCSE Economics:

Business

What is GCSE Business?

On this course you will find out how businesses start up, grow and manage their
day-to-day affairs.  The course examines how businesses are managed and operate in the global economy.  The course drills into the key areas of business, such as; marketing, finance, operations and human resource management.  As part of the course you will also learn a variety of ways to analyse and evaluate real situations and, therefore, make recommendations surrounding business strategy.

What topics will I cover?

The themes that make up the course in Year 10 are:

  • Businesses in the real world
  • Influences on business
  • Business operations
  • Human resources
  • Marketing
  • Finance

You will learn about types of ownership, how and why businesses conduct market research and apply a marketing mix to attract their customers.  You will consider why they analyse the market.  You will also reflect on the skills and attributes of entrepreneurs, the main forms of business ownership and legal issues.  You will study how businesses manage their finance and the sources of finance available to them.  Simple economic concepts are introduced. You will gain an insight into how large businesses are run successfully and also how they fail.  Throughout the course you will make links across the different areas of business to consider how, for example, the implications for finance of launching a marketing campaign on a national scale.

How am I assessed?

What examination board will I follow?

AQA (this exam board is still under review, and may be altered to best suit the students opting for the course).

Who should I speak to for further information?

Mr Young, Mrs Hurley or Miss Creaby

Economics

What is GCSE Economics?

On this course you will find out how individuals and firms operate in the UK and global economy. You will study how recent events such as BREXIT may impact the UK and Europe and understand the role of the political environment in which we exist.

What topics will I cover?

The course is split into two elements consisting of Microeconomics and Macroeconomics. The break down can be seen below:

Microeconomics:

  • Economic foundations
  • Resource allocation
  • How prices are determined
  • Production, costs, revenue and profit
  • Competitive and concentrated markets
  • Market failure

Macroeconomics:

  • Introduction to the national economy
  • Government objectives
  • How the government manage the economy
  • International trade and the global economy
  • The role of money and financial markets

 

You will gain an insight into what is happening in the current economic climate and strategies the government can use to influence the economy.  You will study supply and demand and consider how to achieve sustainable growth in developing nations.  If you enjoy debate and current global affairs, this could be a course worth considering!

 

How am I assessed?

What examination board will I follow?

AQA

 Who should I speak to for further information?

Mr Young, Mrs Hurley or Miss Creaby

In Year 12 and 13, students can take one of the following: GCE EconomicsGCE Business, or BTEC Business L3 (which is taught at both Sandringham and Beaumont). In addition, students can take a L3 Certificate in Financial Studies in Year 12.

GCE Economics

Course Aims

In this course you will be required to think like an economist and carefully weigh up the costs versus the benefits of many decisions. You will look at models and learn to think logically. You will need good written and oral communication skills. Strong mathematical skills are also required.

In Year 12 students will be introduced to Micro- and Macro-economics. Micro-economics seeks to explain how firms and individuals make choices in a world with scarce resources. You will become familiar with some basic economic models such as supply and demand. Macro-economics seeks to explain trends in the wider economy and how the government can influence these trends. You will be assessed through examinations which require multiple-choice plus a justification of your answer, data-response questions, and open-ended essay questions.

Course Structure

Examination Board: Edexcel www.edexcel.com

 A Level   

Paper 1: Markets and business behaviour – Exam: 35% – 2 hrs

Paper 2: The national and global economy – Exam: 35% – 2 hrs

Paper 3: Microeconomics and macroeconomics – Exam: 30% – 2 hrs

 Future Pathways

Students go on to study a wide variety of related subject such as: Accountancy, Consultancy, International Business, Investment Banking, Retail Management and Politics. For students considering studying a degree in Economics, universities expect students to have studied A Level Mathematics.

GCE Business

Course Aims:

Students are introduced to business through building knowledge of core business concepts and applying them to business contexts to develop a broad understanding of how businesses work. Breadth and depth of knowledge and understanding, with applications to a wider range of contexts and more complex business information, are developed in the second year, requiring students to take a more strategic view of business strategies and issues.

Course Structure

Edexcel www.edexcel.com

At the end of year thirteen students will sit three papers, broken down as follows:

A Level                 

Paper 1: Marketing, people, and global businesses – Exam: 35% – 2 hrs

Paper 2: Business activities, decisions, and strategy – Exam: 35% – 2 hrs

Paper 3: Investigating businesses in a competitive environment – Exam: 30% – 2 hrs

 

The course is split into a number of themes. Themes 1 and 2 are studied in year 12, while Themes 3 and 4 are studied in year 13.

Theme 1 and 4 will be assessed in paper 1. Theme 2 and 3 will be assessed in paper 2, and paper 3 is a combination of all themes based on a pre-release case study.

Future Pathways

Students go on to study such a wide variety of related subject such as: Accountancy, International Business, Retail Management and Politics. Hopefully some students will become the successful entrepreneurs and world leaders of the future!

BTEC Business

Course Aims:

The 120-credit BTEC Level 3 Diploma broadens knowledge focus from the BTEC Level 2 qualification. There is potential for the qualification to prepare learners for employment in the appropriate vocational sector and it is suitable for those who have decided that they wish to enter a particular area of work. It is broadly equivalent to two A Levels.

 Qualifications and Qualities Needed

Students must achieve GCSE grades ‘C’ in English Language and Mathematics or a ‘Merit’ grade in BTEC Level 2 Business Studies. You must be an independent learner and able to meet deadlines.

Course Structure

Edexcel www.edexcel.com

Students will study half the course at Sandringham and half the course at Beaumont. All Units will be internally assessed, via students completing coursework assignments. The assignments will use a variety of assessment methods, such as writing reports, delivering presentations, or demonstrating skills within a group. Students will now only be given on opportunity to achieve the Pass, Merit or Distinction criteria, so they must complete their work on time, to a high standard.

Mandatory Units:

  1. Setting up a business (Sandringham) This unit examines the role of business in the economic environment, and how businesses grow.
  2. Developing a marketing campaign (Beaumont) This unit allows students to study successful marketing campaigns and create their own.
  3. Personal and Business finance (Sandringham) In this unit students will study personal finance and business accountancy.
  4. Managing an Event (Sandringham) Students in unit 4 will plan, manage and run an event fo their choice.
  5. International Business (Beaumont) Unit 5 allows students to study the international environment in which globalised business operates.
  6. Management (Beaumont) In unit 6 the art of management will be studied.

Units 2, 3 and 6 are externally assessed.

Units 3 and 6 are external examinations.

Units 1, 4 and 5 are internal coursework.

 

Plus two optional units which are

·       Visual Merchandising·       Customer Service

 

Future Pathways:

Students go on to study such a wide variety of related subject such as: Accountancy, International Business, Retail Management and Marketing. Hopefully some students will become the successful entrepreneurs of the future!

  • A route to higher education
  • A career in financial services
  • UCAS tariff of 60 points at grade A

Course Aims

The qualification will enable students to make informed and confident decisions regarding their finances. It will help students to become responsible borrowers, sensible savers and have an appreciation of the need for financial planning throughout their life. It is designed to encourage students to be inspired to meet their lifetime aspirations.

Qualifications and Qualities Needed.

Students are expected to be self-motivated and be interested in the financial world. Wider reading from appropriate websites and the personal finance section from newspapers is expected. Students receive a set of course notes and they will be expected to keep up with the required reading as well as consult the LIBF website for further relevant materials.

Course Structure

The course is divided into three units and each unit will focus on a different aspect of finance.

Unit 1:  Financial management in the short term

Unit 2:  Financial management in the medium to long term

The course is designed to teach students how to apply appropriate solution(s) from the wide range available within the evolving financial services marketplace. The course provides financial literacy and life skills which is appropriate for students wishing to pursue a career in finance, or simply wishes to understand how to manage their finance better.

Assessment

There are four exam papers:

Unit 1 Part A: 37 multiple choice questions (25%)

Unit 1 Part B: small mark and essay questions based on a pre-released case study (25%)

Unit 2 Part A: 37 multiple choice questions (25%)

Unit 2 Part B: small mark and essay questions based on a pre-released case study (25%)

Future pathways

This qualification is a springboard to further studies in year 13 (Diploma in Financial Studies, equivalent to A2 and worth 140 UCAS points at grade A*). It is possible to study finance to degree level.

Enterprise

Furthermore, we aim to offer enterprise opportunities to students across the school:

  • KS3: Real Business Challenge
  • KS4: Tycoon in Schools
  • KS5: Young Enterprise

At KS3 and KS4 the enterprise opportunities are integrated within the curriculum, while Young Enterprise is open to any student in the Sixth Form.

Beyond Sandringham

Finally, there is a keen focus on providing our students with the passion, understanding, and skills to study Economics, Business, and Enterprise related courses at college or university, or pursue related careers.