Economics

Economics is an exciting, dynamic subject that allows students to develop an understanding of the compxities and interdependenceof economic activities in a rapidly changing world. 

 

Intent & Purpose

Inspiring 

Students are inspired by the relevance of the theories they study to the world around them. Current affairs and theory blend continuously across all aspects of the course.  Students are encouraged to read widely and make connections between events and the content they cover in class.  

Knowledgeable 

The examination of the following six real-world issues which are posed as economic questions provides the framework for the course at both GCSE and IBDP level: 

• How do consumers and producers make choices in trying to meet their economic objectives? 

• When are markets unable to satisfy important economic objectives—and does government 

intervention help? 

• Why does economic activity vary over time and why does this matter? 

• How do governments manage their economy and how effective are their policies? 

• Who are the winners and losers of the integration of the world’s economies? 

• Why is economic development uneven? 

Enquiring and caring global citizens 

Key fault lines are explored within the economic systems.  Both environmental, economic and social sustainability are discussed within a critical framework. 

Excellence in education 


High expectations are placed upon the students with respect to their precise use of language, both in classroom discussion and in their written work. Students are expected to concisely describe established theories, but beyond that, an emphasis is placed upon higher level thinking skills, including critical analysis and evaluation, and students are expected to frame their arguments in flowing, accurate written responses, as well as using quantitative techniques to inform the positions and support arguments

 

Implementation & Learning

Lifelong Learning 

Students are encouraged to form habits of exploring media to link theory to current events.  The use of online learning platforms complement classroom study and show how the process of learning can continue beyond a formal educational framework. 

Concept-Based Student-led Inquiry 

Students carry out key inquiries throughout the course.  Each element contains at least one opportunity to explore a topic. 

Approaches to Learning   

Students are given options in terms of how they consolidate their understanding of the topics with a range of resources available from online platforms and through option reading across a range of texts. 

Approaches to Teaching  

Teaching strategy is focused upon inquiry, and informed by formative and summative assessment.  A variety of strategies are applied in order to engage and develop student thinking. 

Interdisciplinary Connection 

There are overlaps in content between the social sciences.  Human Geography ha strong economic elements, historical events happen in economic contexts.  The Paper 3 at HL is highly quantitative and mathematical insights prepare students for the nature of the student at a higher level.  An emphasis is placed upon their written work which transcends disciplines, and there are distinct links to TOK, with discussions about the nature of a science and the link between positive and normative economics. 

Literacy  

Writing concisely and with precision is a key element of assessment, and students have opportunities to develop these skills throughout the course.  Being able to read and summarise primary sources supports and develops the students’ reading comprehension. 

Numeracy 

Basic arithmetic and geometry is explored within the context of diagrammatic relationships across the specification.  Index numbers, calculus and correlations are all considered in the context of economic theory.

 

International Mindedness and British Values

Students are introduced to economic concepts in a range of contexts both national and international.  Bias is explored within the topic of behavioural economics.  Development is considered from a range of perspectives. 

KS4 - GCSEs

Purpose: How does the curriculum support a holistic approach to education that goes beyond academic development? 

A focus upon international-mindedness is at the heart of the subject.  All economic concepts are explored through a range of contexts.   

Environment: How is the curriculum adjusted to ensure all students can succeed? 

Students receive detailed feedback in private channels which allows a development dialogue to be established with a focus on continuous improvement.  Students coping well with topics are encouraged to use extra resources to deepen their understanding, students with a more fragile grasp of the topic will look to reconsider it using supporting video and online exercises available on the learning platform. 

Learning: How is feedback written into the curriculum to ensure that all students are set challenging goals? 

The private channels are a key focus for feedback, but self-reflection also underpinned development as “flightpaths” of performance are filled in and personal insights added at key stages in development. 

Students are assessed on Paper 1 and 2 questions in class and examinations to obtain information about their performance with respect to external examinations. 

Year 10 Curriculum Map

Michaelmas Half Term 1

Michaelmas Half Term 2

Lent Half Term 1

Lent Half Term 2

Summer Half Term 1

Summer Half Term 2

 

 

Topic: 

Microeconomics 

Markets 

 

Why is this being taught? 

Provides a simple theoretical introduction to using models to interpret situations.

 

 

Why now? 

The aggregate of micro markets provide a context for macro economy, thus we need to establish the nature of the market before exploring the economy as a whole.

 

 

 

Will this be revisited? 

Micro theory plays an important role in Trade theory at the start of Y11 and with revision in the lent term. 

Topic: 

Competition

Markets in Action:

Labour Markets 

 

Why is this being taught? 

Students develop an appreciation on the nature of competition which allows them to question whether markets always work efficiently.

 

Why now? 

This reinforces supply and demand understanding.

 

Will this be revisited? 

 

In revision Y11 Lent term.

Topic: 

Macroeconomics

Metrics

 

 

 

Why is this being taught? 

Students build an appreciation of the complexity of the economy as a whole over individual markets.

 

Why now? 

It allows students to aggregate micro ideas

Eg 

price to price level

Wage to income

Quantity to level of economic activity

  

 

 

Will this be revisited? 

In revision Y11 Lent term.

Topic: 

Macroeconomics Policy

 

 

Why is this being taught?

Macro metrics established in the first half term are developed into policy.

 

Why now?

Students must appreciate the role of government in the economy as a whole.

 

Will this be revisited?

In revision Y11 Lent term 

 

 

Topic: 

End of Year Exam and Review

 

Why is this being taught? 

 

 

 

Why now? 

 

Will this be revisited? 

Topic: 

Inequality

Limitations of Markets

 

Why is this being taught? 

 The key fault lines of the economic system are now considered to challenge their view of efficient markets and effective government.

 

Why now? 

This has left till the point when student have had time to consolidate their understanding to the Year 10 content.

 

Will this be revisited? 

In revision Y11 Lent term

 

Year 11 Curriculum Map

Michaelmas Half Term 1

Michaelmas Half Term 2

Lent Half Term 1

Lent Half Term 2

Summer Half Term 1

Topic: 

International Economics

 

Why is this being taught? 

Bring micro and macro together to appreciate the synoptic nature of the subject is important at this stage.  The topic of international trade is the perfect place to do this.

 

 

Topic: 

 Development Economics + Mock

 

Why is this being taught? 

 Development is the perfect context into which to reconsider all aspects of the course covered to date.  

 

 

 

Why now? 

This builds on and consolidates the students raised awareness of concepts post mock exam. 

 

Will this be revisited? 

Drafts will be further developed over the Christmas break.

 Topic:

Revision

 

Why is this being taught? 

Students prepare for their external assessment 

 

Why now? 

The course content has now been covered and students are required to build up their confidence in their writing. 

 

Topic: 

Revision 

 

 

Why is this being taught? 

Students prepare for their external assessment 

 

Why now? 

The course content has now been covered and students are required to build up their confidence in their writing. 

 

 

 

 

 

 

 

 

Topic: 

External Examinations 

 

 

 

 

KS5 - IBDP

Purpose: How does the curriculum support a holistic approach to education that goes beyond academic development? 

A focus upon international-mindedness is at the heart of the subject.  All economic concepts are explored through a range of contexts.   

Environment: How is the curriculum adjusted to ensure all students can succeed? 

Students receive detailed feedback in private channels which allows a dev elopement dialogue to be established with a focus on continuous improvement.  Students coping well with topics are encouraged to use extra resources to deepen their understanding, students with a more fragile grasp of the topic will look to reconsider it using supporting video and online exercises available on the learning platform. 

Learning: How is feedback written into the curriculum to ensure that all students are set challenging goals? 

The private channels are a key focus for feedback, but self-reflection also underpinned development as “flightpaths” of performance are filled in and personal insights added at key stages in development. 

Students are assessed on Paper 1, 2 and 3 questions in class and examinations to obtain information about their performance with respect to external examinations. 

Year 12 Curriculum Map

Michaelmas Half Term 1

Michaelmas Half Term 2

Lent Half Term 1

Lent Half Term 2

Summer Half Term 1

Summer Half Term 2

 

Key Stage 5 (IB Diploma Programme)

Topic: 

Microeconomics 

Markets and Market Failure

 

Why is this being taught? 

Provides a simple theoretical introduction to using models to interpret complex situation.

 

 

Why now? 

The aggregate of micro markets provide a context for macro economy, thus we need to establish the nature of the market before exploring the economy as a whole.

 

 

 

Will this be revisited? 

Micro theory plays an important role in Trade theory at the start of Y13. 

Topic: 

Market Power

Behavioural Economics

 

 

Why is this being taught? 

Students develop one aspect of market theory, monopoly, in much more depth.  An understanding of Structure Conduct Performance paradigm provides the framework.

 

Why now? 

Market failure and the concepts of Allocative and Productive Efficiency have been established thus they can be developed in more detail.

 

Will this be revisited? 

Aspects of competition are relevant throughout the course, macro and supply side policy, also benefits of trade.

Topic: 

Macroeconomics

 

 

 

Why is this being taught? 

The link between static and dynamic efficiency need to be made in the context of growth in productive potential and thus living standards.

 

Why now? 

Building on micro markets though macro aggregated allows the student to have a solid foundation in the nature of models and their use in analysis and evaluation.

  

 

 

Will this be revisited? 

Macro contexts are important in global economics in Y13.

Topic: 

Macroeconomics

 

 

Why is this being taught?

Macro metrics established in the first half term are developed into policy.

 

Why now?

Students must appreciate the role of government in the economy as a whole, as they have done in micro.

 

Will this be revisited?

Development particularly leans heavily on the role of the state. 

 

 

 

Topic: 

Internal Assessment IA1

 

Why is this being taught? 

 

 IA plays an important role in developing the ability of the student to apply theory to real world contexts

 

Why now? 

This builds on and consolidates the students raised awareness of concepts post end of year exam. 

 

Will this be revisited? 

Drafts will be further developed over the summer.

Topic: 

Internal Assessment IA2

 

Why is this being taught? 

 

 IA plays an important role in developing the ability of the student to apply theory to real world contexts

 

Why now? 

This builds on and consolidates the students raised awareness of concepts post end of year exam. 

 

Will this be revisited? 

Drafts will be further developed over the summer.

 

Year 13 Curriculum map

Michaelmas Half Term 1

Michaelmas Half Term 2

Lent Half Term 1

Lent Half Term 2

Summer Half Term 1

Topic: 

Free Trade and Protectionism

Why is this being taught? 

 

Bring micro and macro together to appreciate the synoptic nature of the subject is important at this stage.  The topic of international trade is the perfect place to do this.

 

 

Topic: 

Internal Assessment IA3

 

Why is this being taught? 

 

 IA plays an important role in developing the ability of the student to apply theory to real world contexts

 

Why now? 

This builds on and consolidates the student's raised awareness of concepts post mock exam. 

 

Will this be revisited? 

Drafts will be further developed over the Christmas break.

 Topic: 

Development Economics

Why is this being taught?

 

Development is the perfect context into which to reconsider all aspects of the course covered to date.  

 

Why now?

 

In many ways it is the view from the knowledgeable high ground that allows the student to appreciate the complexity and contours of the subject landscape as it stands.

 

Will this be revisited? 

In revision, it is a start of the revision process

Topic: 

Revision 

 

Why is this being taught? 

Students prepare for their external assessment 

 

Why now? 

The course content has now been covered and students are required to build up their confidence in their writing. 

 

 

 

 

 

 

 

 

Topic: 

External Examinations 

 

 

 

 

CAS/Extra Curricular activities

In previous years student led clubs as part of the CAS program have involved investigation of economic issues. Bee depopulation in Italy 2020-21 drew aspects of economic environmental literature. Online courses such as the UN Climate Change eLearn platform have also been using to encourage students to develop super-curricular understanding to the key challenges relating to the subject and society.

Links to Theory of Knowledge

As with other disciplines within individuals and societies, there is a variety of ways to gain knowledge in economics. For example, data and evidence collection, experimentation, observation, inductive and deductive reasoning, can all be used to help explain patterns of behaviour and lead to knowledge claims.

Students in individual and societies subjects are required to evaluate the resulting knowledge claims by exploring questions concerning their validity, reliability, credibility, and certainty, as well as individual and cultural perspectives on them.