Economics

Examination Board OCR

Qualification level GCSE

Specification code J205

Please note pupils may take either Economics or Business Studies, but not both.

Overview The subject content looks at economic activity through the lens of consumers, producers, government and the workings of the global economy. As students go through the course they are presented with opportunities to focus on real-world issues. Students should consider and reflect upon moral, ethical and sustainable issues that arise as a result of the impact of economic activity. Students should use their economic knowledge and skills to investigate national and global economic situations and issues from the last 15 years. Students should also be aware of the policies that governments have used to attempt to manage these situations and issues. They will develop quantitative skills relevant to the subject content. They should be able to make relevant calculations from economic data and be able to interpret data presented in the form of graphs and charts. Students should be able to recognise the possible limitations of both quantitative and qualitative data.

Curriculum How markets work:

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

How the economy works:

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

Assessment

Unit % of final assessment

Type of assessment Timing of assessment 1 50% Paper 1 How Markets Work. External Examination 1.45 hours End of Y11 2 50% Paper 2 How the Economy Works. External Examination 1.45 hours End of Y11

Do pupils need to study at GCSE for Sixth Form Level? There is no expectation to take this subject at GCSE if you wish to study it at A Level.

Pupil View ‘I find Economics very relevant to the outside world. It helps me to understand what is going on and to be able to discuss issues with my family.’