Economics (9121)Economics A Level covers the managing of economies, the study of markets, development and the global economy.
Unit 1 Markets: How They Work
• Resources and scarcity
• Economy of production
• The abandonment of central planning in economies
• The benefits of international trade
Unit 2 Markets: Why They Fail
• Failure of free markets to operate efficiently
• The implications of having only one supplier of a product or service
• Economics and questions of environmental pollution
• Governments and their competition policies.
Unit 3 Managing the Economy
• The rate of inflation; growth rate differences between rich and poor countries
• Governments and their policy objectives
• Measures of unemployment
Unit 4 Industrial Economics
• The importance of multi-national corporations
• Pricing policies
• Issues between governments and very large companies
• Regulation of activities of suppliers of some goods and services
Unit 5 Economic Development
• Indicators of development
• Differences in developing countries
• Development strategies
• The IMF, IBRD, structural adjustment policies
Unit 6 The UK in the Global economy
• Globalisation
• The role of the WTO
• Changing international competitiveness
• Exchange rate systems
• The European Union
• Unemployment, inflation, fiscal and monetary policies
• Economic arguments for and against a national minimum wage
What could I go on to?
The skills of collecting and analysing economic information, enhanced written communication, problem-solving and evaluation are in great demand. Economics combines well with a range of social science and humanities subjects, leading to university courses in such areas as law, business, accounting, politics and, of course, economics.
Business Studies (9076)
Learn business decision-making and how businesses operate. The subject also covers elements of accountancy, marketing and human resources.
Unit 1 Business Structure, Objectives and External Influences
• Business objectives and how they are set
• The different structures of business such as partnerships and companies
• How businesses organise themselves internally into departments and functions
• The external influences on a business, such as the economy, the environment and the law
• The main methods of business communication and why it is important that communication is effective
• Why people are important to businesses and how they are motivated
• Leadership styles
Unit 2 Marketing and Production
• The meaning of ‘marketing’
• The principles of marketing
• The importance of price, product, place and promotion (the ‘4 Ps’)in marketing
• The main methods of advertising and promotion
• Market research is and how it is conducted
• How to identify potential customers
• Different ways of making products – production methods
• Making production more efficient
• Quality in the production of goods and services
• Control of stock levels
Unit 3 Financial Management
• The profit and loss account and balance sheet and how they are structured
• Methods used to assess the financial success of a business
• Where a business can get money from and how it can be used
• Budgeting and how it is applied in a business
• The different types of cost a business incurs and how it measures these costs
• How a business chooses the number of products it needs to sell in order to make a profit
Unit 4 Analysis and Decision Making
• Forecasting future sales and making new product decisions
• Critical Path Analysis
• Methods of analysing the financial standing of a business
• Industrial relations decision making
Unit 5 Business Planning
• The business plan and the planning process
• The marketing plan
Unit 6 Corporate Strategy
• Responding to changes in the economy such as interest rates or exchange rates
• Why a business might enter international markets
• How a business decides its international strategy
• Social and ethical responsibilities of a business
• Strategic decision making such as mergers and acquisitions
• How a business manages change
What could I go on to?
The skills of decision making and planning and the knowledge of business from this course give a good start to careers in accountancy, marketing and human resources. Business Studies combines well with social science, humanities and mathematics subjects to lead to university subjects in areas such as business, economics, law and accountancy.