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Davenant Foundation School, Chester Road, Loughton, Essex, IG10 2LD
Telephone: 020 8508 0404
Fax: 020 8508 9301

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Economics

In Economics, our aim is that students will develop a passionate interest in the economic affairs of a globalised world that will last a lifetime. 

Students will have an appreciation of the challenges caused by the basic economic problem, scarcity, at both a micro and a macro level. Students will develop an ability to construct economic arguments based upon sound technical understanding. 

Students will also use data to help analyse markets and economies and the role the government has in trying to influence both. During the course, students will be introduced to different perspectives, aspects of economic history and develop an understanding of key economic issues.

Economics is a dynamic subject, where theory has to be continually reappraised to take account of our changing world. 

This makes it an exciting subject to study and enables students to understand and rationalise the complexities of the world around them by using economic models and theory to make informed judgements on economic policy and current affairs.

Economics at Davenant is currently only studied at key stage 5.

 “Economics is a course with a vast amount of content and relies heavily on wider reading and keeping up to date with news and current affairs. This enables a greater learning experience as it gives an insight into the context surrounding our economy in relation to the other economies around the world.  Additionally, this is why I enjoy the subject, it allows me to watch the news and understand policies the government are introducing and discuss and reason with others using knowledge I have gained during my lessons. I enjoy being more knowledgeable about how the world works, and I feel economics is preparing me for life, and enhancing my views as well as beliefs.

Economics is not the study of money or how to get rich. Economics is the study of people and choices people take under conditions of scarcity and uncertainty. You reading this paragraph is an example of economics; you must feel the benefit of you reading this outweighs the cost, and this is a key idea in economics. I feel studying economics will help me to make better decisions in later life and overall is an enjoyable subject. I recommend this subject to anyone who wishes to have a deeper and more analytical view of the world.”

A LEVEL 

Students studying the subject at A Level follow the Edexcel A  specification.  During the course the following topics are covered.

Year 12

Year 13

Theme 1: Introduction to markets and market failure.

Microeconomics. Students will develop an understanding of:

  • Nature of economics
  • How markets work
  • Market failure
  • Government intervention

Theme 2: The UK economy – performances and policies.

Macroeconomic concepts. Students will develop an understanding of:

  • Measures of economic performance
  • Aggregate demand
  • Aggregate supply
  • National income
  • Economic growth
  • Macroeconomic objectives and policyet failure

Theme 2: The UK economy – performance and policies

Theme 3:Business behaviour and the labour market

Students will further their study of microeconomics by developing an understanding of:

  • Business growth
  • Business objectives
  • Revenues, costs and profits
  • Market structures
  • Labour market
  • Government intervention.

Theme 4 – A global perspective.

Students will further their study of macroeconomics by developing an understanding of global economics:

  • International economics
  • Poverty and inequality
  • Emerging and developing economies
  • The financial sector
  • Role of the state in the macroeconomy.

For more detailed information about the course content and assessment requirements, please refer to the examination board website.

USEFUL WEBSITES 

The Open University’s six “60 second adventures in economics” illustrate some of the topics we cover at A Level.