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Head of Economics - Mr R Earl
As a certain former London School of Economics student once sang, “you can’t always get what you want”.
Mick Jagger never finished his degree as he was lured away by the trappings of the rock star lifestyle, but it is tempting to think that his studies of the Economic Problem all those years ago guided him in writing one of the Rolling Stones’ most famous songs. Indeed, Economics is the science of explaining why we can’t have all of the things we desire and deciding how a finite amount of resources should be allocated amongst the competing demands of consumers, workers, companies and even governments.
At Trinity we follow the Edexcel A Level course, which combines some technical theory with practical application of current issues and case studies. The course is broadly split into two sections: microeconomics and macroeconomics. Microeconomics in the L6th year concentrates on resources, markets and market failure, as well as how the government can correct the problems caused when firms and consumers fail to take into account (or simply don’t know) the full consequences of their actions. In the U6th, the focus is more on firms and workers with topics studied including costs, revenues, profits, competition and the labour market. Again, this will be completed with a look at how the government can intervene when large companies abuse their positions of power to the detriment of the rest of society. Macroeconomics looks at the bigger issues that one is more likely to see in the news. In the L6th there is a domestic focus, concentrating on the analysis of the UK’s economic performance in terms of growth, unemployment, inflation and balance of payments. The U6th macroeconomics course takes a more international approach with a look at trade, international competitiveness, developing economies and international financial markets, the poor functioning of which caused the recent global recession. Assessment is 100% by examination and takes a variety of forms including: multiple choice questions, data analysis and essay writing. For more detailed information, please click here for the board’s course page, which contains the full specification and exemplar exam papers.
Why Study Economics?
This broad approach to the subject which incorporates many different skills and develops students’ ability to analyse and evaluate the world around them makes Economics a compelling choice for any Sixth Former. It is equally appropriate for essay lovers looking to improve their analytical reasoning and mathematicians who want to use their talents in a more applied, real-world context. All will benefit from the ability to dissect the lines spun by politicians and the press alike and really understand how the economic world works.
To finish: one more quote, this time from American Physicist Richard Feynman. “"There are 10x10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.”
If you would like any more information please email Mr Earl on email@example.com.