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Business & Economics

Business and Economics are Key Stage 4 and 5 subjects, studied at GCSE and in the Sixth Form.  The department runs the Edexcel Economics course to AS-level (over one year) and A-Level (over two years) and the GCSE Economics covers the AQA syllabus.  Business is also offered as an AS-level and as an A-Level, the GCSE in Business Studies follows the AQA syllabus. BTEC Business Level 3 is also offered as a vocational option which is equivalent to 1 or 2 A-Levels.

The Business Studies course covers all aspects of business activity from marketing to accounting and finance.  Students are provided with the opportunity to develop personal skills, abilities and experience through practical decision making based on management, evaluation and quantification of information.  Awareness of current business structure and practices is an essential part of the course, highlighting recent trends and issues relevant to business activity. 

It is the aim of the Business Studies Department to provide students with excellent teaching with an emphasis on exam technique and the use of ICT to stimulate their experience.    We strive to ensure Business knowledge is backed up with practical experience and we do this by making sure students have a wide range of unique opportunities; whether it is enterprise groups, local business development opportunities, workplace visits or key visiting speakers. 

We provide opportunities for pupils to also learn outside the classroom with regular visits to major organisations such as; Bank of England, House of Commons, Downing Street, Cadbury, Coca Cola, Lille, Paris, Bruges and China. 

 

2016 Results Business Studies:

            GCSE              40% A*-B                 81% A*-C             100% pass

            A2                  70% A*-B               100% A*-C             100% pass

            BTEC              90% A*-A              100% A*-C             100% pass

2016 Results Economics:

           GCSE              50% A*-B               75% A*-C                100% pass

            A2                 86% A*-B               86% A*-C                100% pass

 KEY STAGE 4 OVERVIEW

WHY GCSE BUSINESS STUDIES?

No matter which route you follow, all these business courses can help you prepare for further and higher education such as AS/A2 Levels and BTEC and NVQ courses. You will become skilled in making decisions, being creative, solving problems, understanding finance, dealing with data, communicating and working as part of team. A GCSE Business course could lead to work in a business-related profession such as accountancy, law, marketing or the leisure and tourism industry.

GCSE Business is taught by Miss Johnston and Miss Goodall

 

WHY ECONOMICS AT GCSE?

Economics is seen as a vitally important area of study for any young person considering a career in industry, commerce or politics. The study of Economics is a study of how the world works. It helps you understand more about how we can make the best possible use of the earth's scarce resources, the impact of government policies and the effects of globalisation.

What makes a luxury item such as a diamond more expensive than a necessity like water? Why should public transport be subsidised by the government? Do footballers deserve to be paid £120,000 per week? Should Britain join the single European currency? Why is China the fastest growing economy in the world and how will it affect me?

Economics graduates have one of the highest average earning potentials. Many people with Economics degrees move onto Banking, Insurance and the Law or as professional Economists, advising multinational companies.

GCSE Economics is taught by Mr Kelly and Mrs Campbell

YEAR 10 

YEAR 10 GCSE BUSNESS STUDIES (AQA)

 

ENTRY REQUIREMENTS

There are no previous learning requirements for this course

COURSE AIMS

GCSE qualifications in business subjects should encourage students to be inspired, moved and challenged by following a broad, coherent, satisfying and worthwhile course of study and gain an insight into related sectors. The GCSEs should prepare students to make informed decisions about further learning opportunities and career choices.

GCSE qualifications in business subjects enable students to:

  • actively engage in the study of business and economics to develop as effective and independent students and as critical and reflective thinkers with enquiring minds
  • use an enquiring, critical approach to distinguish facts and opinions, to build arguments and make informed judgements
  • develop and apply their knowledge, understanding and skills to contemporary issues in a range of local, national and global contexts
  • appreciate the range of perspectives of different stakeholders in relation to business and economic activities consider the extent

COURSE CONTENT & ASSESSMENT

Unit 1: Setting up a Business

This unit introduces students to issues concerning the setting up and operation of a business. It explores the activities of business and the reasons for success or failure. It encourages students to appreciate that businesses must operate within society and that this involves businesses engaging with a wide range of stakeholders who will hold differing perspectives.

 

Content

 

Assessment

 

Weighting

 

Availability

Unit 1: Setting up a Business

  • Business Start Up
  • Finance
  • Marketing
  • People
  • Operations

External written exam

1 hour

Format: Short answer questions and extended responses based on a mini case study

40%

Summer of Year 11

Unit 3

Controlled Assessment

  • All controlled assessment tasks will be set by AQA.
  • Tasks will be replaced each year and will only be available for one assessment opportunity.
  • AQA will provide centers with pre-released material which will require students to undertake a business investigation.

 

Content

 

Assessment

 

Weighting

 

Availability

Unit 3: Investigating Businesses

Controlled assessment

Format: Candidates complete one task from a range of tasks released in September each year

25%

Summer Assessment

 

YEAR 10 GCSE Economics (AQA)

 

ENTRY REQUIREMENTS

There are no previous learning requirements for this course

COURSE AIMS

GCSE qualifications in Economics enables students to:

  • Use a critical approach to distinguish between fact and opinion, build arguments and make informed judgements
  • Develop and apply knowledge, understanding and skills to contemporary issues in local, national and global contexts
  • Appreciate the range of perspectives of different stakeholders in relation to business and economic activities
  • Consider the extent to which business and economic activity can be ethical and sustainable

COURSE CONTENT/ASSESSMENT

 

Content

 

Assessment

 

Weighting

 

Availability

Unit 11: Personal Economics

  • Money
  • Work

National and Global Economy

External written exam

1 hour 15 minutes

Format: Short answer questions and extended responses based on a mini case study

50%

 

Summer

 YEAR 11

YEAR 11 GCSE BUSNESS STUDIES (AQA)

 

ENTRY REQUIREMENTS

There are no previous learning requirements for this course

COURSE AIMS

GCSE qualifications in business subjects should encourage students to be inspired, moved and challenged by following a broad, coherent, satisfying and worthwhile course of study and gain an insight into related sectors. The GCSEs should prepare students to make informed decisions about further learning opportunities and career choices.

GCSE qualifications in business subjects enable students to:

  • actively engage in the study of business and economics to develop as effective and independent students and as critical and reflective thinkers with enquiring minds
  • use an enquiring, critical approach to distinguish facts and opinions, to build arguments and make informed judgements
  • develop and apply their knowledge, understanding and skills to contemporary issues in a range of local, national and global contexts
  • appreciate the range of perspectives of different stakeholders in relation to business and economic activities consider the extent

COURSE CONTENT & ASSESSMENT

Unit 2:

This unit builds upon the content of Unit 1, allowing students to study businesses as they grow and the issues that expansion raise

 

Content

 

Assessment

 

Weighting

 

Availability

Unit 2: Business Development

  • Business organisation
  • Finance
  • People
  • Marketing
  • Operations

External written exam

1 hour

Format: Short answer questions and extended responses based on a mini case study

35%

 

Summer

 

USEFUL LINK

http://www.aqa.org.uk/subjects/business-subjects/gcse/business-subjects-and-economics-4130

 

YEAR 11 GCSE Economics (AQA)

 

ENTRY REQUIREMENTS

There are no previous learning requirements for this course

COURSE AIMS

GCSE qualifications in Economics enables students to:

  • Use a critical approach to distinguish between fact and opinion, build arguments and make informed judgments
  • Develop and apply knowledge, understanding and skills to contemporary issues in local, national and global contexts
  • Appreciate the range of perspectives of different stakeholders in relation to business and economic activities
  • Consider the extent to which business and economic activity can be ethical and sustainable

COURSE CONTENT/ASSESSMENT

 

Content

 

Assessment

 

Weighting

 

Availability

Unit 12: Investigating Economic Issues

  • Managing the Economy
  • Current Economics Issues

External written exam

1 hour 15 minutes

Format: Short answer questions and extended responses based on a mini case study

50%

 

Summer

USEFUL LINK

http://www.aqa.org.uk/subjects/business-subjects/gcse/business-subjects-and-economics-4130

 KEY STAGE 5 OVERVIEW

WHY BUSINESS STUDIES AT A-LEVEL?

Business Studies will not make you a millionaire by the time you are 21. It will, however, provide an exciting insight into the dynamic world of business, giving the basic skills necessary to produce a business plan, and manage a company. You will learn the importance of marketing, how to identify, target and satisfy customer requirements, and how to motivate people, in order to maximise their output. You will learn that every business decision has financial implications, and you will be taught how to calculate profit, forecast cash flow and analyse a firm’s published accounts. Apart from learning the theoretical aspects of business, examining case studies encourages students to use their initiative in problem-solving and gives rise to lively class discussions.  

Business Studies is taught by Miss Johnston, Mr Kelly and Miss Goodall

 

WHY ECONOMICS AT A-LEVEL?

Students are encouraged to take a lively interest in current affairs as discussed in the newspapers or on radio or television. By the end of the course, students will be in a position to understand and discuss current economic issues, such as: whether the UK should join or stay outside the Euro zone, the importance of controlling inflation, the effect of commodity price rises on businesses, consumers and the economy.

This is an excellent subject for the numerate, literate and able student. It combines well with most subjects, although we would not generally advise students to take both Economics and Business Studies. GCSE Maths is needed, not because of any formal mathematical content, but as an indication of analytical ability. Economics can form the basis of many different university courses or careers. It is a qualification respected by university admissions tutors as an indication of analytical ability. It can be a complement to other A levels in the Sciences, Social Sciences or Humanities, and may lead to degree courses in any discipline. 

Economics is taught by Mr Kelly, Miss Johnston, Mr Roberts and Mrs Campbell

 

WHY BTEC LEVEL 3 EXTENDED CERTIFICATE and DIPLOMA IN BUSINESS STUDIES?

This successful programme attracts UCAS points making university access a natural progression; as a well-established, nationally recognised qualification, it is also recognised by employers, for those seeking work after completion. The programme is the equivalent of 1 or 2 A Levels. Assessment is through is a mixture of internal and external units.

There is a collection of reference books, in addition to the course text books, available for student loan so that essential reading around the subject can take place.  We expect students to spend a minimum of four hours on private study in addition to timetabled lessons.

BTEC Business is taught by Miss Johnston, Miss Goodall, Mr Kelly and Mrs Campbell

 YEAR 12

AS Level Business Studies (AQA)

ENTRY REQUIREMENTS AS

It is not necessary to have taken GCSE in Business Studies, however you are required to meet the sixth form ‘A’ level entry – 5 GCSEs grades A to C (including Grade B in English and Grade B in Mathematics).

Business encourages the practical application of business theories by exploring challenges faced by firms and the strategies they use to survive and thrive in a dynamic business environment. Importantly, it also develops the transferable, academic skills required by higher education through using appropriate business tools and methods. The subject is delivered in a real world context and with the discussion of current business issues to consolidate understanding of relevant theory.

Business - a choice for everyone

Business assumes no previous knowledge of the subject. Everyone starts with a level playing field; a fresh start with an equal opportunity to excel. The most important criteria is that you progress into the Sixth Form with enthusiasm and a desire for success. Although you will need to use maths in the form of percentages the intention is that the subject is accessible to all with a reasonable GCSE pass at mathematics. Business attracts all students and represents a challenging, interesting and accessible A Level.

COURSE CONTENT

AS OUTLINE

  1. What is business?
  2. Managers, leadership and decision making
  3. Decision making to improve marketing performance
  4. Decision making to improve operational performance
  5. Decision making to improve financial performance
  6. Decision making to improve human resource performance

AS Level Assessment

Paper 1

Examination of 1 hour 30 minutes consisting of multiple choice questions, short answer questions, and two data response stimuli with questions.

Paper 2

Examination of 1 hour 30 minutes, consisting of one compulsory case study and approximately seven questions.

 

YEAR 12 AS Level Economics (Edexcel)

ENTRY REQUIREMENT

It is not necessary to have taken GCSE in Economics, however you are required to meet the sixth form ‘A’ level entry — 5 GCSEs grades A to C, A Grade in English and A Grade in Mathematics).

SUBJECT CONTENT

Theme 1: Introduction to markets and market failure

This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. At the end of this unit, students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness.

Theme 2: The UK economy- performance and policies

This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success.

Assessment:

Paper 1
Introduction to markets and market failure
Questions drawn from Theme1 80 marks, 1.5 hours 50% of qualification.
Section A: multiple-choice and short-answer questions.
Section B: one data response question broken down into a number of parts, each including one extended open response question.

Paper 2
The UK economy - performance and policies
Questions drawn from Theme 2 80 marks, 1.5 hours 50% of qualification.
Section A: multiple-choice and short-answer questions.
Section B: one data response question broken down into a number of parts, each including one extended open response question.

AS Economics is taught by Mr Kelly & Miss Johnston

 

Year 12 BTEC Level 3 National Extended Certificate and National Diploma in Business Studies (Edexcel)

MINIMUM ENTRY REQUIREMENTS

An advanced course suitable for those with at least 5 GCSEs at grades A*-C

SUMMARY PURPOSE

The Extended Certificate is for learners who are interested in learning about the business sector alongside other fields of study, with a view to progressing to a wide range of higher education courses, not necessarily in business-related subjects

The Diploma is designed to be the substantive part of a 16-19 study programme for learners who want a strong core of sector study. 

COURSE AIMS

During the course you will have opportunities to:

  • Broaden your understanding and knowledge of business and to develop important personal, academic and business skills.
  • Cover the fundamental business disciplines as well as some specialised areas to further enhance your knowledge, for example, Managing Business Information & Market Research in Business.
  • Demonstrate Leadership/Management skills, you will be expected to engage in a project experience, whereby you will be given opportunities to manage live projects.

COURSE CONTENT

National Extended Certificate in Business

The National Extended Certificate in Business is equivalent in size to one A-Level.  The course consists of four units of which three are mandatory and two are assessed externally.

The course consists of the following units:

Core Units:

Unit 1                       Exploring Business
Unit 2                       Developing a Marketing campaign
Unit 3                       Personal and Business Finance

One Specialist Units required (examples below) – form the following groups

Unit 8                       Recruitment and Selection service 

 

National Diploma in Business

The Diploma consists of six mandatory units plus two specialist units (over 2 years).  Three units will be externally assessed by Pearson in the form of controlled assessments and an examination.

The course consists of the following units:

Core Units: 

Unit 1                       Exploring Business
Unit 2                       Developing a Marketing campaign
Unit 3                       Personal and Business Finance
Unit 4                       Managing an Event
Unit 5                       International Business
Unit 6                       Principles of management

Two Specialist Units required (examples below) – form the following groups

Unit 8                       Recruitment and Selection
Unit 14                     Investigating customer service

 YEAR 13

A2 Level Business Studies (AQA)

ENTRY REQUIREMENTS A2

Grade C at AS

COURSE CONTENT

A2 OUTLINE

  1.  What is business?
  2. Managers, leadership and decision making
  3. Decision making to improve marketing performance
  4. Decision making to improve operational performance
  5. Decision making to improve financial performance
  6. Decision making to improve human resource performance
  7. Analysing the strategic position of a business
  8. Choosing strategic direction
  9. Strategic methods: how to pursue strategies
  10. Managing strategic change

A Level Assessment

The A level is assessed by 3 papers and each paper is 2 hours long. Each paper examines all the subject content covered during the 2 year course.

Paper 1

Examination of 2 hours consisting of fifteen multiple choice questions worth one mark each, short answer questions worth 35 marks, two extended answer questions (each out of a choice of two) with 25 marks each.

Paper 2

Examination of 2 hours, consisting of three data response questions each worth approx. 33 marks.

Paper 3

Examination of 2 hours, consisting of one compulsory case study followed by approximately six questions.

 

Year 13 A2 Economics (Edexcel)

ENTRY REQUIREMENT

Grade C at AS

SUBJECT CONTENT

Theme 1: Introduction to markets and market failure

This unit provides an introduction to the nature of economics and examines how the price mechanism allocates resources in markets. It analyses the nature of market failure, its causes and possible policy remedies. At the end of this unit, students should be able to apply supply and demand analysis to real-world situations; to understand why markets might not allocate resources efficiently and the methods of dealing with market failure, together with an evaluation of their effectiveness.

Theme 2: The UK economy- performance and policies

This unit introduces the key measures of economic performance and the main objectives and instruments of economic policy. Students should be able to use a basic AD/AS model to understand why demand and/or supply side policies may be seen as appropriate ways of managing an economy; predict the possible impact of such policies and to recognise the assumptions involved; argue for different approaches and identify criteria for success.

The content for Theme 1 and Theme 2 is the same for the AS and A Level qualifications.

Theme 3: Business behaviour and the labour market

Content Summary:

This unit develops the content of Theme 1 and examines how the pricing and nature of competition between firms is affected by the number and size of market participants. At the end of this unit, students should be able to analyse the pricing and output decisions of firms in different contexts. They should also be capable of making an appraisal of government intervention aimed at promoting competitive markets.

Theme 4: A global perspective

Content summary:

This unit develops the knowledge and skills gained in Theme 2 so that they can be applied in a global context. The application, analysis and evaluation of economic models are required, as well as an ability to assess policies that might be used to deal with economic problems. An awareness of trends and developments in the global economy over the last 10 years is also required.

Assessment:

Paper 1

Examination of 2 hours, consisting of multiple-choice and short answer questions, one data response question and one open response question out of a choice of two questions. This paper will assess microeconomics and questions will be drawn from Themes 1 and 3.

Paper 2

Examination of 2 hours, consisting of multiple-choice and short answer questions, one data response question and one open response question out of a choice of two questions. This paper will assess macroeconomics and questions will be drawn from Themes 2 and 4.

Paper 3

Examination of 2 hours, each section comprises one data response question broken down into a number of parts, including one extended open-response question out of a choice of two.  This paper will assess content across 4 four themes. 

A2 Economics is taught by Mr Roberts, Mr Kelly & Miss Johnston

 

Year 13 BTEC Level 3 National Extended Certificate and National Diploma in Business Studies (Edexcel)

SUMMARY PURPOSE

The Extended Certificate is for learners who are interested in learning about the business sector alongside other fields of study, with a view to progressing to a wide range of higher education courses, not necessarily in business-related subjects

The Diploma is designed to be the substantive part of a 16-19 study programme for learners who want a strong core of sector study. 

COURSE AIMS

During the course you will have opportunities to:

  • Broaden your understanding and knowledge of business and to develop important personal, academic and business skills.
  • Cover the fundamental business disciplines as well as some specialised areas to further enhance your knowledge, for example, Managing Business Information & Market Research in Business.
  • Demonstrate Leadership/Management skills, you will be expected to engage in a project experience, whereby you will be given opportunities to manage live projects.

COURSE CONTENT

National Extended Certificate in Business

The National Extended Certificate in Business is equivalent in size to one A-Level.  The course consists of four units of which three are mandatory and two are assessed externally.

The course consists of the following units:

Core Units:

Unit 1                       Exploring Business
Unit 2                       Developing a Marketing campaign
Unit 3                       Personal and Business Finance

One Specialist Units required (examples below) – form the following groups

Unit 8                       Recruitment and Selection service 

 

National Diploma in Business

The Diploma consists of six mandatory units plus two specialist units (over 2 years).  Three units will be externally assessed by Pearson in the form of controlled assessments and an examination.

The course consists of the following units:

Core Units:

Unit 1                       Exploring Business
Unit 2                       Developing a Marketing campaign
Unit 3                       Personal and Business Finance
Unit 4                       Managing an Event
Unit 5                       International Business
Unit 6                       Principles of management

Two Specialist Units required (examples below) – form the following groups

Unit 8                       Recruitment and Selection
Unit 14                     Investigating customer service