Poole Grammar School, Gravel Hill, Poole, Dorset, BH17 9JU | Tel: 01202 692132 | Email: pgsoffice@poolegrammar.com
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Economics Curriculum Overview Statement

1) Intent: What do we learn?

The specification is split into two main sections, the first section introduces students to microeconomic issues and the second section covers mainly macroeconomic issues. However, students should appreciate that microeconomics and macroeconomics are not entirely distinct areas of study. For example, microeconomic principles often provide fundamental insights into understanding aspects of the macro economy. Similarly, economic issues and problems often contain both a microeconomic and macroeconomic dimension.

Students studying Economics at Poole Grammar will be expected to acquire competence in quantitative skills that are relevant to the subject content and be familiar with the various types of statistical and other data, which are commonly used by economists. They should be able to make relevant calculations from economic data and be able to interpret data presented in the form of index numbers. Examples of other relevant quantitative skills include: the construction and use of graphs and the application of statistical measures such as the mean, median and relevant quantiles.

Students will also be encouraged to develop a critical approach to economic models and methods of enquiry. They should appreciate that value judgements play an important role in economic decision making as well as understand the methodology of economics and the role of evidence whilst recognising that economics is a social science and that people’s behaviour is not necessarily rational or predictable.

All students will acquire a good knowledge of trends and developments in the national and global economy which have taken place over the past fifteen years allowing them to analyse current trends within that historical framework.

2) Implementation: How do we learn it?

The course will be split between two years with the second year building upon the theory and knowledge learnt in the first year.  How the topic areas are distributed between the two years is shown below:

YEAR 1

YEAR 2

  • Economic methodology and the economic problem
  • Individual economic decision making
  • Price determination in a competitive market
  • The market mechanism, market failure and government intervention in markets
  • The measurement of macroeconomic performance
  • How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
  • Economic performance
  • Monetary policy
  • Fiscal policy and supply-side policies
  • Production, costs and revenue
  • Perfect competition, imperfectly competitive markets and monopoly
  • The labour market
  • The distribution of income and wealth: poverty and inequality
  • Financial markets
  • The international economy

3) Impact: How do we know we have been successful?

Formal assessments are held throughout the year to monitor students’ progress.  These are backed up by informal discussion, debate and activities in class.  At the end of the two-year course, the students will sit the three papers.