Economics and Business Studies
Today, economics and business studies are hot topics. The press, television and radio are full of news articles that try to to explain what is going on in the economy and business organisations. However, sometimes they contradict each other and it can be hard to work out the facts.
For many teenagers, the main connection with the world of economics and business is as customers of firms: being generally aware of advertising, interested in the features of products on offer and never having really thought about the efforts that have been made to provide those products and to persuade them to buy. As they progress through their teenage years, pupils become increasingly aware of the economic and business environment. They may develop an interest in current affairs, perhaps wondering why the world's wealth is so unevenly divided between rich and poor, why they have to pay taxes and why multinationals are setting up in the fast-growing economies of India and China.
Our two A Level courses, in economics and business studies, provide frameworks for the investigation of issues such as these and teach pupils to examine them critically.
In summary, economics investigates the way in which the scarce resources of the world are distributed to its people and the influences of the choices made by consumers, firms and governments. Business studies investigates the ways firms may be organised internally and how they may react to their external pressures- social, legal, economic, political and technological.
Each year, the department supports a Young Enterprise company -- a group of Lower Sixth Form pupils who set up and run their own limited company. The venture gives the pupils experience of running a business as well as the vital skills of team building and communication. During the year, the company attends local trade fairs, takes part in the local Young Enterprise competition and produces an annual report and accounts.