Economics

Economics is the study of how we allocate scarce resources between all the competing wants of consumers in the world. In our course we look at the role that firms, individuals and governments play in this process. Pupils will learn to consider how prices and markets are used as the main method of resource allocation, but also where the market fails to deliver. They will look at costs and benefits of different policies aimed at dealing with these problems and how they are implemented. A knowledge of economics in essential for anyone looking to pursue a career in business.

Economics provides a good introduction to economic theory and helps pupils to answer crucial questions as well as have a better understanding of current economic issues. We offer this course at GCSE level and A-Level (though it is not a pre-requisite for A Level Economics). The subject covers a range of issues from the perspective of an individual consumer, up to a national and international perspective.

Topics covered in Economics include:

• How the market works
• How the economy works
• UK economy and globalisation
• Microeconomics
• Macroeconomics

Pupils who have studied this course have gone into degrees such as actuarial science, international business and accountancy & finance.  This course is gives an interesting insight to how our economy functions and how modern day business is carried out.

Come and visit our Economics Department by booking a tour of Albyn School.