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Lutterworth College

Economics

Economics is offered as an A-level at Lutterworth College. The intention is that by studying Economics, students will develop an interest in and enthusiasm for the subject and appreciate the contribution of microeconomics and macroeconomics to the wider economic and social environment. Throughout the course they will use an enquiring, critical and thoughtful approach their studies and develop an ability to think as an economist. They will develop analytical and quantitative skills, together with qualities and attitudes which will equip them for the challenges, opportunities and responsibilities of adult and working life.

We work alongside our Church of England CHRIST values to enrich how our students experience Economics, preparing them for a life outside of education. Students are able to demonstrate these values at various points in the curriculum in the following ways:

  • Being Courageous – learning complex and unfamiliar new content, models and techniques
  • Being Hardworking – in their preparation for academic assessment and examinations – success in Economics involves drawing on numerical and written skills developed in GCSE subjects
  • Being Reflective – understanding the role of evidence in economic decision making but appreciating the importance of value judgements in their own work and in economic settings
  • Being Inspirational – being prepared to challenge examples of economic and societal inequalities and using their knowledge to inform their own behaviour now and in the future as consumers and when making career choices
  • Being Supportive – of each other in group work, presentations and projects – looking at positive and negative externalities arising from their own and others’ behaviour
  • Being Tenacious – students will acquire a good knowledge of trends and developments in the economy which have taken place over the past fifteen years and also have an awareness of earlier events where this helps to give recent developments a longer-term perspective

Key Stage 5

In Year 12, students will study microeconomics: the operation of markets and market failure and macroeconomics: the national economy in a global context. In Year 13 they further develop their understanding and skills in microeconomics: individuals, firms, markets and market failure and in macroeconomics: the national and international economy. This is a rigorous academic course which is assessed by external examination. It is widely recognised by universities and employers and provides students with an excellent foundation for further studies and their careers.

An example of work in Economics includes:

Knowledge: The causes of globalisation.  The main characteristics of globalisation, including the role of national governments, protectionist policies, the balance of trade and exchange rates.

Understanding: The consequences of globalisation for less-developed and for more-developed countries. The role of multinational corporations in globalisation.

Skills: the ability to construct and interpret tables and standard graphical forms to analyse the impact of globalisation on a firm, national or international economy. Using abstract ideas and concepts such as comparative and absolute advantage to explain the consequences of globalisation on international economies.