Economics Rationale and Purpose
In the Economics department, we want to prepare young people for life in the real world by recognising the impact of business, the economy and finance on their daily lives. The curriculum is designed to mirror the knowledge and topics demanded for their qualifications, but by adding their own personal context and understanding, they become more aware of how they can thrive and succeed in life.
The importance and relevance of economics to our young people can never be understated; affording the opportunity to understand the politics, economy and with many cross-curricular links with topics such as production (linked to DT), and communication skills (links to English, media and ICT).
“Economics is everywhere and understanding economics can help you make better decisions and lead a happier life.” Tyler Cowen, economics professor and New York Times columnist.
Students develop the knowledge and skills needed to understand and analyse data, think critically about issues and make informed decisions.
They will also build upon their quantitative skills and appreciate that, when evaluating arguments, both qualitative and quantitative evidence are important.
Many of our students have studied GCSE business but this is by no means a requirement. Thereafter, a university degree in Economics, Business and/or Finance and management is a popular choice for many. Others are opting for apprenticeships in a related field. Job opportunities await qualified students of Business and Economics. An array of useful skills and knowledge ensures that employees who have a Business/Economics qualification are sought after.
Regardless of how students use an Economics/Business degree professionally, the education received can equip them to function more effectively in a business-driven economy. Their awareness of business motives and operations also positions them to be a more effective consumer and voter. Even if students find themselves in a non-business-related career, such as education or social work, their work will likely entail some interaction with businesses. Social workers, for example, commonly interact with both for-profit and non-profit businesses in helping clients find support and assistance programs. We are all agents in the economy.