At Bexley Grammar School we offer Economics at Higher Level.

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.

The course focuses on real world contextualisation and applies nine central concepts throughout e.g. scarcity, equity, choice.

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.

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

Students do not need to have studied Economics at GCSE to study International Baccalaureate Economics at Higher Level.