Ripon Grammar School

An engineering specialism within a grammar school

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4th Year Work Experience 2011 15.07.10

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Economics and Business Studies

“Think and Grow Rich”
(Napoleon Hill)

Aims of the Department

The department aims to achieve the maximum potential of all students on both courses. Delivering the teaching of Economics and Business Studies courses in the most interesting and stimulating way possible for students using a variety of teaching methods and the use of different media to stimulate and encourage the highest level of student response.

AQA Economics

Entry Requirements

At least 6 GCSE grades achieved at level B or above (including Maths and English). An interest in current affairs is also desirable.

Course Content

The course follows the AQA specification (www.aqa.org.uk). The course investigates micro and macro economics. Students look at contemporary issues such as why are house prices so high and how are we affected by the BRIC economy.

AS Course:

Unit 1 Markets and Market Failure

The economic problem
The allocation of resources in a competitive market
Production and efficiency
Market Failure
Government intervention in the market

Unit 2 The National Economy:

The measurement of macro economic performance
How the macro economy works
Economic Performance
Macro economic policy

A2 Course:

Builds on knowledge and skills leant at AS Level at a greater depth using more complicated models.

Unit 3 Business Economics and the Distribution of income

The firm – objectives, costs and revenues
Competitive markets
Concentrated markets
The labour market
Government Intervention in the market

Unit 4 The National and International Economy

Macro economic indicators
Managing the National Economy
The International Economy

Methods of Assessment:

AS Level:
Units 1 and 2 each have a written paper of 1 hour 15 minutes worth 25% of the total A level. Each paper has a total of 75 raw marks (100 UMS) containing two sections A and B. Section A is made up of 25 compulsory Multiple choice questions. Section B Two optional data response questions are set, candidates are to answer one only.

A2 Level:
Units 3 and 4 each have a written paper of 2 hours worth 25 % of the total A’level. Each paper has a total of 80 raw marks available (100 UMS).

Units 3 and 4 have two optional data response questions of which students answer only one. Section B contains 3 optional essay questions of which students answer only one

Units can be sat in either January or June

Student Comments

“hard work, but fun and interesting”

“economics has made me much more aware of global issues”

“doing A2 economics has allowed me to get into the university of my choice”

Additional Information

The course equips students to better understand the economic world in which they live in, they will be expected to read widely and keep abreast of current developments in economics. Studying this subject is excellent preparation for higher education and helps develop a range of skills useful in the workplace.

The department is keen to encourage students to constructively criticize and evaluate the capitalist process and be able to make judgements about the failings of neo-liberal economics and consider its consequences from local, national and global perspectives

Websites

http://store.aqa.org.uk/qual/gce/pdf/AQA-2140-W-SG.PDF for a course download

http://www.aqa.org.uk/qual/gce/economics_sg_new.php for specification details

BUSINESS STUDIES

Entry Requirements

Students do not need to have studied Business Studies at GCSE but they need to have achieved at least six B GCSE grades including English and Mathematics. An interest in current affairs and a willingness to contribute to class discussions are expected.

Course Content

The course follows the AQA specification and the AS units introduce students to the challenges and issues of starting a business, the financial planning required and how to manage a business to maximise its success. At A2 students revisit many of the issues raised at AS looking at the performance of larger businesses, business strategies and the impact of external factors on a business. Further details are available on the AQA website:

http://www.aqa.org.uk/qual/gce/business_studies_sg_new.php

http://store.aqa.org.uk/qual/gce/pdf/AQA-2130-W-SG.PDF

AS Course:

Unit 1 Planning and Financing a Business

Starting a Business
Financial Planning

Unit 2 Managing a Business

Finance
People in Business
Operations Management
Marketing and Competition

A2 Course

Unit 3 Strategies for Success

Functional Objectives & Strategies
Financial Strategies & Accounts
Marketing Strategies
Operations Strategies
Human Resource Strategies

Unit 4 The Business Environment and Managing Change

Corporate Aims & Objectives
Assessing Changes in the Business Environment
Managing Change

Methods of Assessment

AS and A2 units can be examined in January or June.

In AS there are two written papers. The unit 1 assessment is 1 hour and 15 minutes, is worth 40% of the total AS marks, 20% of the total A level marks and is made up of short answer questions and extended answers based on a mini case study. This is marked out of 60. The unit 2 assessment is 1 hour and 30 minutes, is worth 60% of the total AS marks, 30% of the total A level marks and is made up of multi-part data response questions. This is marked out of 80.

In A2 there are two written papers both 1 hour and 45 minutes long, marked out of 80 and each worth 25% of the total A level marks. The unit 3 assessment is based on an unseen case study and is made up of questions requiring extended answers using AS materials with the focus on measuring business performance and assessing appropriate functional strategies to achieve success. The unit 4 assessment is synoptic and draws on all of the specification. It is based on a two part paper – section A contains questions based upon prior research. Section B is a choice of essay titles where the students must select one.

Student Comments

“Choosing business studies has helped me develop my entrepreneurial skills.”

“It involves more maths than I thought.”

“It is a subject which will help me in whatever I do when I leave school.”

“Business Studies is a good subject for someone who like to deal with real situations.”

Additional Information

This course helps equip students for a range of situations post 18. They will be expected to actively participate in their learning by investigating current issues and situations and presenting their own views, opinions and recommendations.

Career Opportunities

There are many career opportunities as you would expect in these subject areas. Many students go on to university to study subjects related directly to the courses. From this they have the opportunity to work as economists in both the private and the public sector. Many go on to work in the financial services sector training to become chartered accountants. Some students use their language skills and combine the two subjects with a degree that focuses on business and a foreign language which opens up many career opportunities both in the UK and abroad. Some choose to study economics or business studies because they want to eventually to run their own business and regard the subject skills offered as vital in achieving their objective. These have been in a variety of areas from becoming a vet to running a farm.