Economics, Business and Enterprise

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

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The faculty comprises:

Marvin Brown – Director of Learning

Adam Rowley – Assistant Director of Learning

Katie Cave – Teacher

Dr. Caroline Creaby – Deputy Headteacher

Vikki Borman – Teacher

Victoria Sage – Teacher

Victoria Opie – Teacher

Key Stage 3

In Year 9, students can choose a Personal Finance module. This module runs for 9 weeks and covers key information students need in order to make sound financial decisions in future. This includes:

Budgeting
Saving and Investments
Borrowing and debt
Mortgages
Insurance
How finances are affected by external factors such as inflation and interest rates

Key Stage 4

In Years 10 and 11, students can take either GCSE Business or GCSE Economics.

GCSE 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 operate in the global economy. The course focuses on the key areas of business, such as; marketing, finance, operations and human resource management, and investigates how businesses are affected by their external environment. As part of the course, you will also learn a variety of ways to analyse and evaluate real situations and, therefore, make recommendations based on business strategy.

What topics will I cover?

Theme 1: Investigating Small Business (Year 10):

Enterprise and entrepreneurship
Spotting a business opportunity
Putting a business idea into practice
Making the business effective
Understanding external influences on business

Theme 2: Building a Business (Year 11)

Growing the business
Making marketing decisions
Making operational decisions
Making financial decisions
Making human resource decisions

You will learn about types of ownership, why businesses conduct market research and how they 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 businessownership 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 why they fail. Throughout the course, you will make links across the different areas of business to consider, for example, the implications for finance of launching a marketing campaign on a national scale. As part of this course you will have the opportunity to take part in the Tycoon in Schools Programme and in doing so you will get hands on experience of the world of Business.

How am I assessed?

You will be assessed through two external examinations, each lasting 90 minutes and worth 50% of the overall qualification. The papers assess your knowledge, and ability to apply, analyse and evaluate problems in a specific business context using a mix of multiple choice questions, calculations, short answer questions, case study questions and extended responses.

Paper 1 covers: Theme 1 – Investigating small business
Paper 2 covers: Theme 2 – Building a business

What examination board will I follow?

Edexcel

Who should I speak to for further information?

Mrs Opie, Mrs Cave or Mr Brown

GCSE 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:

Introduction to Economics
How prices are determined
Production, costs, revenue and profit
Competition in markets
The role of money and financial markets

Macroeconomics:

Government objectives
How the government manages the economy
Limitations of markets
International trade and the global economy

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. There may be an opportunity for you to take part in the Tycoon in Schools programme, and in doing so gain a deeper understanding of business decision making.

What examination board will I follow?

OCR

Who should I speak to for further information?

Mr Rowley, Mrs Sage or Mr Brown

Key Stage 5

In Years 12 and 13, students can take one of the following: GCE Economics, GCE Business, or BTEC Business L3. 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 https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/economics-a-2015.html

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

Theme 1: Introduction to markets and market failure

This theme focuses on microeconomic concepts. Students will develop an understanding of:

nature of economics
how markets work
market failure
government intervention

Theme 2: The UK economy —performance and policies

This theme focuses on macroeconomic concepts. Students will develop an understanding of:

measures of economic performance
aggregate demand
aggregate supply
national Income
economic growth
macroeconomic objectives and policy.

Theme 3: Business behaviour and the labour market

This theme develops the microeconomic concepts Introduced in Theme 1 and focuses on business economics. Students will develop an understanding of:

business growth business objectives
revenues, costs and profits
market structures
labour market
government intervention.

Theme 4: A global perspective

This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of:

International economics poverty and inequality
emerging and developing economies
the financial sector
role of the state In the macroeconomy.

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!

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 – https://qualifications.pearson.com/en/qualifications/edexcel-a-levels/business-2015.html

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.

Theme 1: Marketing and people

Students will develop an understanding of:

meeting customer needs
the market
marketing mix and strategy
managing people
entrepreneurs and leaders.

Theme 2: Managing business activities

Students will develop an understanding of:

raising finance
financial planning
managing finance
resource management
external influences.

Theme 3: Business decisions and strategy

This theme develops the concepts introduced in Theme 2. Students will develop an understanding of:

business objectives and strategy
business growth
decision-making techniques
influences on business decisions
assessing competitiveness
managing change.

Theme 4: Global business

This theme develops the concepts introduced in Theme 1. Students will develop an understanding of:

globalisation
global markets and business expansion
global marketing
global industries and companies (multinational corporations).

Future Pathways

BTEC Business: BTEC Level 3 National Extended Certificate in Business

Course Aims:

The BTEC Level 3 National Extended Certificate in Business broadens knowledge focus from the BTEC Enterprise 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 the equivalent of one A Level.

Qualifications and Qualities Needed

Students must achieve GCSE grades ‘5’ in English Language and Mathematics or a ‘Merit’ grade in BTEC Level 2Enterprise. You must be an independent learner and able to meet deadlines.

Course Structure

Edexcel – https://qualifications.pearson.com/en/qualifications/btec-nationals/business-2016.html

The course is divided into internally assessed units and externally assessed units. Internally assessed units will be 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. In accordance with Exam board regulations, students will be given one resubmission opportunity to achieve the Pass, Merit or Distinction criteria, so they must complete their work on time, to a high standard.

Units studied

Exploring Business (internally assessed)
Developing a Marketing Campaign (externally assessed)
Personal and Business Finance (externally assessed)
Investigating Customer Service (internally assessed)

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!

Enterprise

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

KS4: Tycoon in Schools
KS5: Young Enterprise