Year 12 - Economics
| Autumn 1 | Autumn 2 |
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Micro - Nature of Economics Why is Economics considered a social science? What is the Economic problem and how do Economists attempt to solve it? |
Micro – How Markets Work What is the difference between a free market, command and mixed economy? How do product markets work? How are prices determined in a free market? |
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Macro – Macroeconomic Objectives What are the possible Macroeconomic objectives that the UK wants to achieve? How do we measure it? |
Macro – Introduction to AD/AS What are the different ways we can measure GDP? How is Macroeconomic equilibrium achieved? What are the main schools of economic thought? |
| Spring 1 | Spring 2 |
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Micro – Market Failure Why do markets fail? What are the different types of Market Failure? |
Micro – Government Intervention Why is there a need and role for Governments to play in an economy? How can Governments intervene to correct market failures? What is Government Failure and why does it exist? |
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Macro – Measures of Economic Performance What are the causes and consequences of the main measures of macroeconomic performance? |
Macro – Economic Growth and National Income What is the circular flow of income? Why is Economic Growth a main macroeconomic objective? |
| Summer 1 | Summer 2 |
|---|---|
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Micro – Behavioural Economics What are the underlying assumptions of rational economic decision making? What are the reasons why consumers may not behave rationally? |
Micro – Business Growth and Objectives What are the reasons why some firms remain small and why others grow? How do firms grow? |
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Macro – Macroeconomic Policies What are the macroeconomic policies used to help the government achieve its macroeconomic performance objectives? What is the difference between demand-side and supply-side policies? Are there any conflicts between objectives and policies? |
All Year 12 Subjects Next Year 12 Subject – Business Studies
Year 13 - Economics
| Autumn 1 | Autumn 2 |
|---|---|
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Micro – Costs, Revenues and Profits What is the main objective we assume all firms want to achieve? How do we measure Economic Profit? |
Micro – Market Structures What is the Structure-Conduct-Performance model? What are the four main market structures and how do firms behave in different industries? Is Monopoly power a bad thing? |
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Macro – International Economics
What is Globalisation (Characteristics, Causes and Consequences)? Why do most countries engage in International Trade? How has the pattern of trade changed over time? How do countries become internationally competitive? |
Macro – Poverty and Inequality What is the distinction between absolute and relative poverty? What is the distinction between income and wealth inequality? Why are some countries rich and some countries poor? Is Inequality an essential ingredient of capitalism? |
| Spring 1 | Spring 2 |
|---|---|
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Micro – Market Structures How do labour markets work? How are wages determined in different labour markets? What are the different types of labour market failure? |
Micro – The Labour Market What are the methods and impact of government intervention to: - control mergers - control monopolies - promote competition and contestability - protect suppliers and employees |
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Macro – Poverty and Inequality What is the different between economic growth and development? How do we measure economic development? What are the factors influencing economic development? What is the effectiveness of different strategies for development? What is the role of financial markets? What are the different forms of market failure in the financial sector? |
Macro – Emerging and Developing Economies; The Financial Sector How are macroeconomic policies used in the global context? How effective have different policies been in different countries and in different time periods? |
| Summer 1 | Summer 2 |
|---|---|
| Exams | Exams |
All Year 13 Subjects Next Year 13 Subject – Business Studies