Introduction
Business Studies literally does what it says. It studies business and how it operates within its environment. The approach in the course is less theoretical than economics and involves studying in some detail how today’s businesses carry out their various functions including marketing, finance, operations management (production), and people (personnel). The course also looks at how outside activities affect businesses and in turn how business react to these – for example, the effect of changes in Government policy, competition, demand, pressure groups and ethics. In addition the subject draws together the business functions and the external environment to study the objectives and strategies that businesses might adopt; for example, merger activities and globalisation.
Skills
Business Studies requires a reasonable level of numeracy and involves more number work than Economics, especially at A2 level. The ability to calculate ratios and percentages is important. However, the course is testing Business Studies not mathematics, and the important thing is to understand and apply the figures to the business being studied. The ability to analyse, evaluate and write good English is very important. Sources of information for Business Studies include textbooks, quality newspapers, visits to business and government organisations, the World Wide Web and students’ own experience.
Assessment
The Department follows the AQA Business Studies Syllabus. There are four modules, two for AS and another two for A2. These are assessed using case study questions and essay writing. Further information can be found at:
http://web.aqa.org.uk/qual/gce/business/business_materials.php?id=05&prev=
AS/A2 Combinations
Business Studies will combine with most other subjects. At some point we all work in business so it has as much relevance to the future medic as well as the budding Bill Gates.
Career Progression
Many Business Studies students pursue careers in marketing, personnel and management.
Additional Information
The Department also takes part in the Young Enterprise scheme, where students in the Lower Sixth get the chance to run their own business. Further information on this can be found at:
http://company.young-enterprise.org.uk/company/about_cp/
ECONOMICS (Exam Board Edexcel)
Introduction
Subject Content
Economics teaches students to think logically and to use theories to understand how economies operate. At the centre of the subject is the question of how we divide up scarce resources and how decisions resulting from this affect us all – in other words who gets what and why? It studies all of society and the activities of various groups and institutions within it. This means studying the private sector and the effects of competition and comparing this with the public sector provision. Economics looks at why markets fail and what can be done to correct them; for example, how can we tackle the problems of global warming or narcotic drugs? The macroeconomic part of the course is what most people associate with economics. This includes economic growth, inflation, unemployment and international trade, and the difficulties that the UK Governments face when they attempt to steer the economy in their chosen direction.
Skills
Economics requires a reasonable level of numeracy, but it is not mathematical. The main skill that an economist needs is the ability to analyse economic data, to interpret graphs and tables, identify trends and explain these using economic theory. The ability to see how one economic policy (e.g. low inflation) may affect other parts (e.g. employment) is paramount. This requires a clear mind and an ability to think and analyse logically and to write in good English. During the course, students will be expected to collect and use information from many sources, including textbooks, quality newspapers, the World Wide Web and their own experience.
Assessment
The Department follows the Edexcel Economics syllabus. There are four modules, two for AS and another two for A2. These are assessed using supported multiple choice, data response and essay writing. Further information can be obtained from:
http://www.edexcel.com/quals/gce/gce08/economics/Pages/default.aspx
AS/A2 combinations
Economics will combine well with most subjects, including other social sciences, humanities and mathematics. Scientists could consider it as a subject that would broaden their knowledge. Anyone considering a career in banking or accountancy will study Economics as part of their course so an early introduction to the subject matter is helpful.
Career Progression
Economics gives opportunities for careers in both the public and private sectors, in the UK, the EU and the wider world. Economics leads directly into jobs in accountancy, banking, the public and the private sector.
Additional Information
Each year the Economics Department enters a team for the Bank of England/Times Newspaper Target 2.0 competition. Further information on this competition can be found on:
http://www.bankofengland.co.uk/education/targettwopointzero/index.htm