Welcome to the Economics and Business Studies Department!

We are here to give our students essential knowledge of the UK and World Economy from the variety of perspectives. In the future, any of our students, whether a small business owner or a minister of finance, would be able to read the signals and make the best decisions possible.

Economics and Business represent the two sides of the same coin.

Offering:

• Business AS-level
• Business A-level
• Economics AS-level
• Economics A-level
• Young Enterprise
• Stock Market Challenge

Our dedicated team of three Economics and Business Teachers has been working hard to prepare our students for admission to the best UK and international universities.

Economics and Business Studies are studied in the sixth form only (year 12 and year 13).

The Business Studies course covers all the main elements of business, involving a study of:

• Business Organization
• Marketing (Advertising, distribution, pricing, etc)
• Management (Motivation, leadership, etc)
• Human Resources (Recruitment, training, etc)
• Finance and Accounting
• Production
• External Environment of Business

The Economics course covers an introduction to micro-economics (a study of different elements of the economy, such as individual markets) and macro-economics (a study of the whole economy, looking at issues such as unemployment and trade) The course has a strong theoretical element, and students need to be prepared to use diagrams and critical thinking, although the level of mathematics required at this level is elementary. A reasonable GCSE grade (preferably B) is sufficient. Topics covered include:

• Supply and Demand
• Costs, Revenue and Profit
• Firms and their Objectives
• Wages and the Labour Market
• The Economics of the Environment
• Inflation
• Unemployment
• International Trade and Development
• Economic Growth
• Taxation and Fiscal Policy
• Monetary Policy and Financial Economics
• Managing the Economy

Why should I study Economics or Business Studies?

Both subjects involve critical thinking, interpretation of data, and manipulation of concepts and ideas. More interestingly, however, they are both applied subjects. Even an elementary understanding of either subject enables you to understand more clearly how business works, or what is happening in the economy, for example the impact of changes in taxation or interest rates.

What is the difference between Business Studies and Economics?

Business Studies deals with specific businesses and how they operate in the external environment, looking at how they overcome problems such as finding finance and staff, and marketing their products profitably.

Economics studies the theories used to explain the behaviour of consumers and firms, and also the operation of markets (such as the market for gold, or Microsoft shares). At the macro-economic level, Economics studies how the whole economy works. What causes unemployment? How can it be cured? Should we protect our industries against foreign competition? Should Britain join the Euro system and abandon the £?

Economics can be slightly more theoretical and abstract than Business Studies, whereas Business Studies probably involves more actual arithmetic.

Both subjects fit very well with virtually any combination of other subjects. They complement arts and sciences subjects equally well, and form an ideal ‘third’ subject for those with only two definite choices.

The skills of analysis and evaluation which are developed in these subjects are highly valued by universities and employers, and the subjects are useful for careers in banking, finance, management and industry, and also politics and the media.