Skip to content ↓

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 at A-Level (over two years) and the GCSE Economics covers the AQA syllabus.  Business is also offered at A level and follows the Edexcel exam board.  The GCSE in Business Studies follows the AQA syllabus. CTEC Business Level 3 is also offered as a vocational option.

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 visits to organisations such as; Bank of England and The Museum of Brands.

 

 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. 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.

 

WHY GCSE ECONOMICS?

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.

YEAR 10 

YEAR 10 GCSE BUSINESS STUDIES (AQA)

ENTRY REQUIREMENTS

There are no previous learning requirements for this course

COURSE AIMS

GCSE qualification in Business Studies enables students to:

• use business terminology to identify and explain business activity.

• apply business concepts to familiar and unfamiliar contexts.

• develop problem solving and decision making skills relevant to business.

• investigate, analyse and evaluate business opportunities and issues.

• make justified decisions using both qualitative and quantitative data including its selection, interpretation, analysis and evaluation, and the application of appropriate quantitative skills.

COURSE CONTENT

Students apply their knowledge and understanding to different business contexts ranging from small enterprises to large multinationals and businesses operating in local, national and global contexts. Students develop an understanding of how these contexts impact on business behaviour. Students will apply their knowledge and understanding to business decision making including:

• the interdependent nature of business activity, influences on business, business operations, finance, marketing and human resources, and how these interdependencies underpin business decision making

• how different business contexts affect business decisions

• the use and limitation of quantitative and qualitative data in making business decisions.

ASSESSMENT

This qualification is linear. Linear means that students will sit all their exams at the end of the course in year 11.

PAPER

CONTENT

THE EXAMINATION

PAPER 1: Influences of operations and HRM on business activity

  • Business in the real world
  • Influences on business
  • Business operations
  • Human resources

Written paper (1 hour 45 minutes) = 90 marks 50%

PAPER 2: Influences of marketing and finance on business activity

  • Business in the real world
  • Influences on business
  • Marketing
  • Finance

Written paper (1 hour 45 minutes) = 90 marks 50%

USEFUL LINK

http://www.aqa.org.uk/subjects/business-subjects/gcse/business-8132

 

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:

  • Look at economic activity through the lens of consumers, producers, government and the workings of the global economy. As students go through the course they’re presented with opportunities to focus on real-world issues. Students should consider and reflect upon moral, ethical and sustainable issues that arise as a result of the impact of economic activity.
  • Use their economic knowledge and skills to investigate national and global economic situations and issues from the last 15 years. Students should also be aware of the policies that governments have used to attempt to manage these situations and issues.
  • Develop quantitative skills relevant to the subject content. They should be able to make relevant calculations from economic data and be able to interpret data presented in the form of graphs and charts. Students should be able to recognise the possible limitations of both quantitative and qualitative data.

COURSE CONTENT

How markets work

This section will introduce students to economic foundations such as the nature and purpose of economic activity, the factors of production and the importance of making choices. Students will also look at how resources are allocated using a market mechanism.

The central aspect will be an investigation of how prices are determined. This introduces students to concepts such as supply and demand, inter market relationships and price elasticity. Students investigate the significance of costs, revenue and profit for producers, leading to an understanding of the concepts of production, productivity and economies of scale. Students will then explore the importance of competition in relation to resource allocation, leading to an investigation of the factors that lead to market failure, with an emphasis on the significance of externalities.

How the economy works

Students explore the significance of interest rates including their impact on saving, borrowing and spending. The core of this unit will focus on government objectives and their role in managing the economy. A range of policies will be explored in relation to the objectives. Students also examine why countries trade, and the significance of the global economy, including free trade agreements. Finally, students will explore the role of money and the significance of the financial markets in modern economies.

ASSESSMENT

This qualification is linear. Linear means that students will sit all their exams at the end of the course in year 11.

PAPER

CONTENT

THE EXAMINATION

 

Paper 1

How markets work

  • Economic foundations
  • Resource allocation
  • How prices are determined
  • Production, costs, revenue and profit
  • Competitive and concentrated markets
  • Market failure

 

Written paper 50%

(One hour 45 minutes)

 

Paper 2

How the economy works

 

Written Paper 50%

(One hour 45 minutes)

 

USEFUL LINK

http://www.aqa.org.uk/subjects/economics/gcse/economics-8136

 YEAR 11

YEAR 11 GCSE BUSINESS STUDIES (AQA)

 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

 

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

 

YEAR 11 GCSE ECONOMICS (AQA)

 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

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. 

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.

WHY CTEC BUSINESS AT A-LEVEL?

Cambridge Technicals are more vocationally orientated qualifications and are assessed primarily through coursework.  These are one or two year courses that allow you to gain the knowledge and skills needed in a specific career area. These courses are ideal if you enjoy learning in a practical and work-related way.  These qualifications are equivalent to an A Level and carry the same amount of UCAS points.

There are many benefits of studying a CTEC programme, you can learn practical skills which are prized by employers through a more vocational course and you can also gain an excellent foundation for further academic study by studying an A Level. The programme will also allow you to keep your options open by gaining additional qualifications and broadening your future career opportunities.

 YEAR 12 and year 13

Sixth Form Year 12 and 13 Courses of Study  

A Level Business – EDEXCEL

THE COURSE

The A Level Business course will enable you to understand how and why business decisions are made and how businesses respond strategically to the changes they face and current issues that impact on business, such as the digital economy. It covers many areas of managing a business including marketing, production, finance and human resources. It will also introduce you to managing a business in a global context and focus on the global issues that impact on business.

The A Level in Business course is structured into four themes.

  • Theme 1 – Marketing and People
  • Theme 2 – Managing Business Activities
  • Theme 3 – Business Behaviour and Strategy
  • Theme 4 – Global Business

Students build knowledge and understanding of core business models and concepts in Themes 1 (Marketing and People) and 2 (Managing Business Activities), and then build on this and apply their knowledge to more complex concepts and models in Themes 3 and 4 and analyse, evaluate and propose possible solutions.

Entry Requirements

  • Minimum of 4 GCSE grades at 6/5 and 2 GCSE grades at 4
  • To include a 5 in GCSE Mathematics and English Language

 

ADDITIONAL ACTIVITIES WITHIN THIS SUBJECT

If you want to begin to ‘think’ like an entrepreneur, you should read a book like ‘Anyone Can Do It’ by Duncan Bannatyne, and ‘Common Sense Rules: What you really need to know about business’ by Deborah Meaden amongst a few. An essential way to prepare for the A level business course is to regularly dip into the business news.  A good place to start is the excellent BBC - Company News, The Guardian - Business News and The Independent - Business News.

 WHY STUDY THIS COURSE?

A-Level Business Studies will ensure you are effectively prepared for employment in any organisation and provide you with an understanding of how businesses operate. You will develop a range of transferable skills that will support your progression in higher education and employment.

 ASSESSMENT

AS level

In year 12 students will sit their AS exam in Theme 1 – Paper 1 Marketing and People and  Theme 2  - Paper 2 Managing Business Activities.

A level

We follow the Edexcel Business specification.  In the second year of the course, students will take three external exams that assess content covered in the first and second year.  These exams will determine their A level grade.

Paper 1 will assess Markets, People and Global Business.  Questions will be drawn from Themes 1 and 4.

Paper 2 will assess Business Activities, Decisions and Strategy. Questions will be drawn from Themes 2 and 3

Paper 3 will assess Investigating Business in a Competitive Environment. Assesses content across all four themes.

There is no coursework, though regular reading and viewing of quality news sources is highly beneficial and is strongly encouraged.

 YOU SHOULD TAKE THIS COURSE IF:

You are interested in business and can see yourself one day working within a large organisation or indeed are interested in starting up and running your own business then this may well be the course for you.

 WHAT CAN I DO WITH AN A-LEVEL IN BUSINESS?

An A-level qualification in Business can lead to a variety of degree courses at university such as Accountancy and Finance, Business and Administration. It is also a useful qualification for students who intend to pursue a career in Banking and Finance, Marketing, Law, Journalism, Retailing and Management. It is a very useful starting point for careers in the business world.

 

 

 A 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 9 to 6, a Grade 7 in English and a Grade 7 in Mathematics).

SUBJECT CONTENT

Theme 1: Introduction to markets and market failure

This theme 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 theme 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.

Theme 3: Business behaviour and the labour market

This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of business growth, business objectives, revenues, costs and profits, market structures, labour market, government intervention.

Theme 4: A global perspective

This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students will develop an understanding of, international economics, poverty and inequality, emerging and developing economies, the financial sector, role of the state in the macroeconomy.

 

Assessment:

AS level

In year 12 students will sit their AS exam in Theme 1 -  Paper 1: Introduction to markets and market failure and Theme 2 Paper 2: The UK economy – performance and policies

A level

We follow the Edexcel Business specification.  In the second year of the course, students will take three external exams that assess content covered in the first and second year.  These exams will determine their A level grade.

Paper 1 Markets and business behaviour this will assess microeconomics and questions will be drawn from Themes 1 and 3.

Paper 2 The national and global economy this will assess macroeconomics and questions will be drawn from Themes 2 and 4

Paper 3 Microeconomics and macroeconomics this will assess content across all four themes. Students are required to apply their knowledge and understanding, make connections and transfer higher-order skills across all four themes.

There is no coursework, though regular reading and viewing of quality news sources is highly beneficial and is strongly encouraged.

WHAT CAN I DO WITH AN A-LEVEL IN ECONOMICS?

A lot of professionals in banking and accountancy hold economics degrees. For any career related to finance, an economics degree is a good foundation to build on. Roles in data analysis such as an actuary, or an investment analyst, are typical careers for an economics graduate.

 

 

CTEC Business (OCR)

MINIMUM ENTRY REQUIREMENTS 

The CTEC course is suitable for students with at least 5 GCSEs at grades 7-4

SUMMARY PURPOSE

The CTEC Business course 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 course 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.

What does this qualification cover?

Learners will take five units: three mandatory units and two optional units:

Everybody will study the following mandatory units:

  • The business environment
  • Working in business
  • Customers and communication

The business environment, will give learners an understanding of the wider external contexts in which businesses operate and of internal business functions and their interdependencies. The unit will allow them to appreciate how legal, financial, ethical and resource constraints can affect business behaviour and the influence that different stakeholders can have and how businesses must respond.

Working in business, will give them an understanding of the type of critical skills needed when working in business, such as organisation, prioritisation and effective communication. The unit will allow them to learn how to use different business documents and about organisational protocols that most businesses would expect employees to follow.

Customers and communication, will allow learners to appreciate how vital customers are to the success of a business. It will give them an understanding of how important it is for businesses to know their customers and what influences customer behaviour. In this unit, they will understand how to communicate with customers.

The optional units cover a wide range of topics to give them the opportunity to take a unit that is relevant to a specific aspect of business; for example marketing, accounting, human resources or business planning.

 

 WHAT CAN I DO WITH A CTEC IN BUSINESS?

A CTEC qualification in Business can lead to a variety of degree courses at university such as Accountancy and Finance, Business and Administration. It is also a useful qualification for students who intend to pursue a career in Banking and Finance, Marketing, Law, Journalism, Retailing and Management. It is a very useful starting point for careers in the business world.