Business & Economics
Economics & Business Studies is taught at KS4 and KS5.
At GCSE we follow the combined Edexcel Nuffield course. The syllabus is an integrated business studies and economics course. The underlying principles of the syllabus are those of progression and investigation. It is also important that the classroom learning is related to the real world of business and economics. Investigative work drives the course and this is reflected in the questioning style of the syllabus. The use of ICT is incorporated into the course when possible during lessons and as an integral tool in the production of homework and coursework. The course is examined with end of course exams and coursework.
At A level we offer the combined Edexcel economics and business course and the Edexcel economics course. Entry on to either of the A level courses are not dependent on the student having prior knowledge of this subject.
The combined course in economics and business again integrates the two subjects into an interesting and varied course which gives students a firm grounding in the fundamentals of economics and, at the same time, helps them to understand the internal workings of firms. Students will investigate local, national and international issues.
The economic specification enables students to use an enquiring, critical and thoughtful approach to the study of economics and encourages them to think as an economist would.
Course Content
AS/A2
Unit 1 Developing New Business Ideas covers the characteristics students would need to develop, to be successful in business and how new and existing businesses generate their product or service ideas and test them through market research. Students will also need to consider the competition in the market, the economic climate, how the business might be financed and how much revenue the idea may generate.
Unit 2a Managing the Business covers key activities which students may be involved in if they were to set up and/ or manage a business whether small, medium-sized or large. It also introduces students to some basic management tools and models which will be developed in the A2 qualification.
Unit 3 International Businessintroduces students to business considerations in international trade e.g. where to seel a particular product and why some companies sell their products globally.
Unit 4a Making Business Decisions students will be able to assess the current competitiveness of a business through performance and non performance indicators. They will analyse corporate objectives and strategy on the basis of these indicators and on external influences to the business. Students will be required to assess the causes and effects of change on a business and examine how the company could manage risk effectively.
Learning Methods and Assessment
Throughout the course you will develop a clear and concise style of writing used in business, enabling you to communicate effectively in a business setting. You will also learn how to analyse and interpret economic indicators, to enable you to work out how they may affect a business and what action should be taken to benefit from these or minimise the damage!
Expectations of Students
AS and A2
This course is suitable for students who:-
Careers Implications
AS and A2
It provides a solid base for studies at a higher level in the following subject areas: business management, business administration, accountancy and finance, human resource management, marketing, retail management, tourism management or international business. It may also lead on to a career in the commercial world e.g. in banking, sales, product management or general management. Business and management skills are also considered desirable skills to have in public sector organisations or charities.
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