I especially enjoy studying economics due to its relevance in the real world. You learn a lot of skills and knowledge that you can apply to other jobs or to your personal life.” Source: current student.
Economics is about choice and the impact of our choices on the rest of society. It relates to every aspect of our lives, from the decisions we make as individuals or families to those made by governments and firms. The economic way of thinking can help us make better choices.
The A level course at Notre Dame is structured into four clear and coherent themes reflecting today’s global economy and economic development.
Theme 1. Introduction to markets and market failure:
- Examine the nature of economics, how markets work and government intervention.
Theme 2. The UK economy – performance and policy measures
- How do we measure economic performance? Examine the importance of fluctuations in aggregate demand and supply, national income, economic growth. Evaluate government objectives and policy.
Theme 3. Business behaviour and the labour market
- Business objectives and growth. Look at revenue, costs and profit and behaviour within different market structures. Examine factors that influence the labour market? Assess government intervention.
Theme 4. Global Perspective
- Assess economic growth and development, poverty and inequality using current examples. Examine the importance of the financial market in the light of the 2008 crash. The role of the state in the macro economy.
Notre Dame also offers a stand-alone AS level which covers themes 1 and 2.
A good GCSE grade in English is essential in order to be able to tackle the writing component and a good GCSE grade in Maths in order to understand the more theoretical aspects of the subject.
The department also offers opportunities to attend lectures at London School of Economics where knowledge and understanding is enhanced by leading economists of today.