Economics Curriculum
Curriculum Intent – Content and Structure
The intended outcomes of what we teach:
Students who study Economics will finish their course with a desire to explore the subject further and foster their interest through uptake of related higher education courses. Economics students will also be provided with a broad understanding of how society works in the context of Economic decision making, both on an individual and international level. Economics aims to support students in achieving their full potential in the subject.
Curriculum Implementation
Curriculum Content and Sequence
Year 12
Autumn | Spring | Summer |
| Microeconomics: How markets (should) work. The principles of supply and demand and theory of free market economics. | Microeconomics: How and why markets fail. Why many economic theories and principles fail to work in practice and how they are remedied. | Microeconomics: Introduction to Business Economics. How individual businesses interact within different market structures. |
| Macroeconomics: Focussing on the UK economy, looking at the key economic indicators and the AD/AS model. | Macroeconomics Economic policies and policy conflicts. | Macroeconomics Reinforcing Year 12 work on trade and the current account and starting Year 13 content on trade and exchange rates. |
Year 13
Autumn | Spring | Summer |
| Microeconomics: Economic theory behind business decisions. How the number of firms in a market affect how firms behave and how this affects consumers. | Microeconomics: Government intervention regarding competition policy. Focus on the synoptic paper. | Microeconomics: Exam practice / revision / study leave. |
| Macroeconomics: International trade, currencies and protectionism. Inequality and development. | Macroeconomics: Growth strategies, financial economics, public spending and the state. More on monetary policy. | Macroeconomics: Exam practice / revision / study leave. |
The Rationale for the Content and Sequence of what we Teach
Year | Why we Teach this Content and how the Content and Sequence of Topics Benefits our Students. |
Year 12 | Economics is taught as a new subject in Year 12, therefore initial content in the first term is based around establishing basic tools to construct Economic arguments. Where necessary, additional material is taught to allow students to put the curriculum content in context. For example, in Macroeconomics, the difference between free market and Keynesian approaches is set within the ideas of left wing and right wing politics. Some skills within Year 12 Economics require content first taught in other subjects, so some recapping is required, such as ensuring students are comfortable with percentage change. |
Year 13 | As well as covering curriculum content, there is an emphasis on trying to ensure students are up to date with current Economic themes and debates, such as the use of protectionist policies in the trade war between China and America, or the UK government’s budget. In microeconomics, the labour market presents an opportunity to study current Economic arguments as to the need for an executive pay cap, or an increase in the minimum wage. Further emphasis is placed on this in Year 13 since students will be more literate in Economic analysis and therefore will be able to base arguments on previously learned subject matter. |
Key Stage 5 (KS5) only:
What exam board/syllabus do you teach?
Edexcel
Why have you chosen this syllabus?
In Year 13, the Edexcel syllabus includes a look at development economics, which provides a broader perspective on global economics than the two other main boards.
In what ways is it suited to your students?
Taking into account the school’s broader aim of providing a well rounded, academic education, where students will be well prepared for the wider world, wider exposure to development Economics will help students increase their awareness of the world around them.
Furthermore, due to the diverse backgrounds of many Wren students, it is easier for students to engage in this module.
Curriculum Implementation
The subject specific habits and behaviours we develop (or intend to develop) in our students
Subject Specific Habits and Behaviours | How we embed these in our students |
| Use of context and data to support any arguments made in extended writing. Ensuring students are aware of current Economic and political news stories. Annotating case study before writing to ensure key facts are drawn out of texts. | Discussions in lessons, peer marking guidance. Emphasis on including context in written work.
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Academy Ethos
Academy Curriculum Intent | How our department’s curriculum content and teaching approaches reflect the whole Academy ethos |
| A Curricular and Pastoral commitment to Micah 6v8: Do justice, love kindness and walk humbly with your God. High Expectations of students’ behaviour for learning, learning progress and respect for our community. A commitment to make learning enjoyable, engaging, relevant and challenging. A commitment to develop knowledge, skills and character. Consistency and fairness in approach and routines. Excellent and developing subject knowledge which inspires confidence in students. Effective collaboration across all parts of the Academy. Highly skilled teaching which deepens understanding and stimulates curiosity. A willingness to embrace research and innovation in order to enhance the learning potential of our students. Recognising and rewarding effective use of learning habits as well as academic achievement. | The consideration of justice and ethics in equality modules, such as minimum and maximum wage. The discussion of the rational economic man being selfish in behavioural Economics lend itself to discussion on whether we are naturally kind as a society. Through Economics reading group we questioned the fundamentals of many Economic models used at A Level and whether they are suitable to current world issues such as the environment. The topic of negative externalities makes clear how every action can have consequences beyond the individual and makes clear the best Economic outcome is one which considers society. Use of up to date news articles help students engage in the subject content in a way which is relevant and applied to their interests. Brent Cross Retail challenge allows students to present in front of other schools and judges. Consistent marking policy. Consistent department policy on lateness and failure to complete home learning. Reading through examiners reports in detail. Discussion with other leading schools such as JFS ensures the Academy is kept up to date on any subject specific innovations or developments. Communication with other successful Economics departments such as Dame Alice Owens and JFS. Attendance of tutor2u Wow Economics CPD day once per year. Focus on retrieval practice. |
Implementation
Academy Ethos
Micah 6v8: Do justice, love kindness, and walk humbly with your God | ||||
Curriculum Content Opportunities | Curriculum Delivery Opportunities | |||
| Justice
| Inequality National Minimum Wage National Max Wage Dumping WTO and international trade Prisoners Dilemma | Demonstration of effect of competition on individuals within different market structures Public goods game WTO case studies of the cotton market Fairtrade | ||
| Kindness
| Rational Economic Man Fiscal Policy Taxation Subsidies | Size of the state and public spending – create your own budget | ||
| Humility
| Limitations of Economic Forecasting The Pretence of Knowledge – Economic Thinkers and Friedrich Hayek | Peer marking | ||
Please click here to access the full Economics curriculum document.