Economics

AT BEXLEY GRAMMAR SCHOOL WE OFFER ECONOMICS AT HIGHER LEVEL ONLY.

Economics is a dynamic social science, forming part of the study of individuals and societies. The study of Economics is essentially about the concept of scarcity and the problem of resource allocation.

Although Economics involves the formulation of theory, it is not a purely theoretical subject: economic theories can be applied to real-world examples. Neither is Economics a discrete subject, since Economics incorporates elements of History, Geography, Psychology, Sociology, Political Studies and many other related fields.

Economics does not exist in a vacuum, because it naturally must consider how economic theory is to be applied in an international context. Economics has an important role to play in promoting international cooperation and mutual understanding because of its focus on global issues.

HIGHER LEVEL COURSE

The course focuses on real world contextualisation and applies nine central concepts throughout:

Scarcity
Choice
Efficiency
Equity
Economic well-being
Sustainability
Change
Interdependence
Intervention

The course is divided into 4 sections:

Unit 1: Introduction to Economics
Unit:2: Microeconomics
Unit 3: Macroeconomics
Unit 4: The Global Economy

As a Department, we fully support the aims and ethos of the International Baccalaureate Organisation.

AIMS

In particular, we believe that the aims of the Economics course at Bexley Grammar are to:

Provide students with a knowledge and understanding of economic theory
Encourage students to become independent critical thinkers/enquirers
Promote an awareness and understanding of internationalism in economics

Assessment

SUBJECT REQUIREMENT

Students do not need to have studied Economics at GCSE to study International Baccalaureate Economics at Higher level. A good understanding of Mathematics is helpful and students looking to study Economics at university should be mindful that a number of institutions will only accept Mathematics at Higher level.