Economics & Business
The study of Economics and Business can contribute to a student’s understanding of moral, ethical, social and cultural issues.
Students are made aware that business and economic decisions are influenced by the value systems of individuals, firms and governments, reflecting the moral and ethical views of the world. For example, the appreciation of business ethics encourages an understanding of moral issues and the consideration of why people work (such as social motives and non-financial factors), encourages an understanding of social issues.
Economics and Business are only available in the Sixth Form at Warwick School, so both subjects represent a fresh start in new academic disciplines.
Head of Department - Dr D Williams
Both subjects are highly relevant and topical, and students should be prepared to keep abreast of current national and international developments. We follow the OCR specification for Economics and AQA for Business. A large proportion of our students go on to pursue degree courses in Economics, Business Management, Accountancy and Marketing. Students at Warwick School are permitted to opt for both Economics and Business. The department occasionally organises outside speakers and currently takes part in the IFS Student Investor Challenge, the Bank of England Two Point Zero competition and Young Enterprise. A group of students publish a weekly newssheet which features items of interest in the local, national and international economy. Over the past decade or so the department has run numerous trips abroad, including visits to Madrid (2015) and Barcelona (2016). We also collaborate with the Careers Department to run an annual business trip to London.
A Level Economics is concerned with the key issues facing us today, including globalisation, pollution and poverty. It is essentially about the choices that different sorts of people and governments have to make, the reasons they make them and the consequences their choices have. Students are taught how to understand issues such as inflation and unemployment and the difficult decisions that the UK government face in its attempts to steer the economy in a chosen direction.
Assessment consists of three equally weighted examinations of two hours each, focusing on microeconomics, macroeconomics and themes in economics, with the latter offering an opportunity for students to apply theories and concepts to up-to-date contexts. The first two examinations involve a data response question and two essays from a choice of four. The third ‘themes’ paper has 30 multiple choice questions and a series of short answer and extended response questions.
A Level Business involves the study of businesses in a variety of contexts, ranging from local sole-traders to multinational conglomerates. The specification encourages students to follow business developments in the key functional areas of marketing, finance, production and human resource management, and think strategically about contemporary business issues.
Assessment consists of three equally weighted examinations of two hours each. The first has fifteen multiple choice questions, a number of short answers questions and a choice of one from two essay questions. The second has three multi-part data response questions and the third has one case study, followed by approximately six questions.