GCSE Economics

Ashbourne students examine everyday events and activities and discuss how and why they are shaped by economics. This helps them see the practical impact of economics and enables them to develop a theoretical understanding of the subject too. They are encouraged to keep up to date with current affairs to provide depth to their studies and are given plenty of exam practice to help them achieve the best results.

Over the course students become more adept at analysing the world around them, articulating their own views and building the skills to make better decisions for themselves.

Why study Economics?

Whether you have just bought a Gucci bag for half price, received ‘free’ healthcare from the NHS, borrowed £10 off your friend for lunch or have just launched your own app that will make you a millionaire, you are part of the global economic system.

Studying Economics will help you understand why prices fluctuate, where your taxes go, how government legislation can push people to change their spending habits (or not), why some companies dominate their market, how global or societal changes like climate change and ageing can have an impact on a country’s economy, why people fight for resources and why certain economies grow faster than others.

You will also learn how to analyse complex issues, create strategies, monitor the political climate, understand commercial incentives, problem solve, interpret statistics and data, explain your ideas clearly and be ready for any eventuality – all highly desirable and transferable skills.

Which syllabus do we follow?

Ashbourne follows the OCR specification for GCSE Economics.

What is covered in this course?

Students will be introduced to major terms, concepts and players in economics, begin to explore the role of markets and money, examine economic objectives and the role of government, and take a look at international trade and the global economy.

IntroductionMarkets and moneyEconomic objectives and governmentInternational trade and the global economy
Introduction to Economics
Students are introduced to the main economic groups (consumers, producers and government), how they interact and how they engage with and have an impact on the economy. They explore the factors of production (land, labour, capital and enterprise) and examine how they might be combined. They look at the problem of scarce resources and question how resources should be allocated and how goods and services should be produced, and for whom. They will look at the costs and benefits of economic choices, in a variety of contexts, and consider the moral, ethical and sustainability consequences.
Students examine the role of markets and how they work in terms of supply and demand, price, competition, production, labour and the role of money and financial markets.
Students study economic growth (how it’s measured; factors affecting growth like investment, resources and policy; impact on society, the environment and sustainability), low unemployment (what it means; how it’s measured; historical comparisons; types; causes and consequences), fair distribution of income (types of income and difference between income and wealth; calculating income and wealth; causes and consequences of income and wealth distribution difference for the economy).

Student will also learn about price stability (stability and inflation, real and nominal; Consumer Price Index; impact of inflation on goods; historical trends; causes and consequences for consumers, producers, savers and government), fiscal policy (purpose and sources, including taxes, of government spending; budget, surplus and deficit; using fiscal policy to achieve economic goals; how taxes and spending affect the economy; costs and consequences of achieving goals and redistributing income and wealth), monetary policy (what it is; how it affects growth, employment and price stability; impact on consumer spending, borrowing, saving and investment), supply side policies (what it is, how and whether it works), limitation of markets (positive and negative externalities; government taxes, subsidies, state provision, legislation and regulation and information provision; use, impact and evaluation of government policies).

Students learn about the importance of international trade (why countries import and export goods and services; free trade agreements), balance of payments (balances, surplus, deficit; historical trends; impact on the national economy), exchange rates (supply and demand; currency conversions; impact of changes on consumers and producers), globalisation (driving factors; measurement including life expectancy, health care and education; costs and benefits including impact on economic, social and environmental sustainability; impact on less developed countries).

Who teaches this course?

Stefania Spinu

MA Economic Policy and Analysis, Economics of Sustainable Development (University of Nantes, France); BA Economics (University of Bucharest ASE); PGCE Economics (Institute of Education, UCL)

Stefania specialises in economic analysis and environmental and sustainable economics. She was also an Edexcel examiner for Economics at GCSE and A level. Stefania loves painting and clay modelling, music, cinema and aquariums.

 

Why Choose Ashbourne College?
StudentsParentsTeachers
I am very proud of the results that I have achieved. I believe that I could not have done it without the amazing support of the teachers at Ashbourne. I’ve made many friends and will not forget my time at Ashbourne as it has been the best. My next step is Medical School at St. George’s, University of London and will hopefully become a doctor
KhadijaMedicine at St George's Hospital Medical School (University of London)
Treated with kindness and respect whilst being taught to grow as an individual personally and academically
I have had a very valuable experience working at Ashbourne. I feel lucky that I got such a great opportunity to deal with different kinds of jobs which include; document preparations, helping at some organised opening evenings or dealing with students’ enquiries. Having a chance to deal with these tasks I feel that I have already gained a lot of valuable improvements in the skills which are needed in a college administrative working environment. The Ashbourne staff are very friendly and helpful. They never hesitated to give me advice on the jobs I was doing and what I should and should not do. I can not thank them enough for such great help and experience during all those times I was working at Ashbourne
Kim Anh TranFormer Part-Time Administrative Assistant
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