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Carshalton High School for Girls

Carshalton High School for Girls

Carshalton High School for Girls is a highly successful school, judged by Ofsted in November 2017 as ‘Good’ in all categories.

Economics KS4

What will students study in Economics at KS4?

In Year 9, you will start your Economics GCSE by learning about the fundamentals of both micro and macroeconomics concepts. You will learn about economic activity where you will discover the central purpose of key economic decisions such as what to produce and how to produce goods and services, the main economic groups, including consumers, producers and governments. You will also explore how to use limited resources effectively in an attempt to meet indefinite wants and needs. You will start practising the skills you need to progress in your GCSE such as critical thinking, analysis and problem-solving. These skills will be invaluable when dealing with economic problems. In this introductory year, you will also find out about different economic sectors; primary, secondary and tertiary as well as specialisation, how prices are determined using demand and supply and any factors impacting on the price determination, consumption and production.

In Year 10, you will investigate the significance of costs, revenue and profit for producers, leading to an understanding of the concepts of production, productivity and economies of scale. You will then explore the importance of competition in relation to resource allocation, leading to an investigation of the factors that lead to market failure, with an emphasis on the significance of externalities. You will use real-life examples throughout the course and you will further develop your skills of application within the UK and international contexts in this year. You will explore the significance of interest rates including their impact on saving, borrowing and spending.

In Year 11, you will focus on government objectives and their role in managing the economy. A range of policies will be explored in relation to the objectives, highlighting the fact that pursuing one objective can have a detrimental effect on other objectives. You will also examine why countries trade, and the significance of the global economy, including free-trade agreements. Finally, you will explore the role of money and the significance of the financial markets in modern economies.

In every stage of the curriculum, you will discuss the moral, ethical and environmental issues that underpin economic decision-making and economic activity.

What are the major assessments at KS4?

At every stage of the GCSE Economics, students will complete end of topic assessments each time a topic is completed as well as and end of year exams in the Summer-term.

In Year 11, in addition to the end of topic assessments, there will be 2 mock assessments. As this is a linear GCSE option, students will not be externally assessed until they are at the end Year 11. Their grade will be 100% based on external written examinations.

There will be 2 external examinations at the end of Year 11:

Paper 1 How Markets Work – (50%)

(1 hr 45m)

80 marks; 2 sections with MCQ, data response, short and extended answer questions.

Paper 2 How the Economy Works – (50%)

(1 hr 45m)

80 marks; 2 sections with MCQ, data response, short and extended answer questions.

What do assessments test?

End of topic tests and the end of year examination will be summative assessments that will enable both the learner and the teachers to determine the level of progress made in the economics topics covered and what still need to be addressed going forward.

Paper 1 will assess students on microeconomic concepts and Paper 2 will assess students on macroeconomic concepts using the following question types:

  • There will be calculations, multiple–choice, short–answer and extended–writing questions.
  • Each paper will include questions that target quantitative skills at a minimum of Key Stage 3 level.
  • In each paper, Section A will have 10 multiple choice questions followed by a range of calculation, short and extended response questions and Section B will have five questions involving a mix of calculations, short and extended responses.
What are the expectations of my daughter in Economics?

We welcome all students into the field of Economics who are keen to find out more about the world around them as well as use quantitative skills, creativity, intuition, enquiry and independent thinking.  This is both a challenging and engaging course. The subject would be best suited to those students who enjoy solving problems, working with numbers and graphs, interested in following the topical issues such as immigration, economic changes, trade and international relationships, correcting issues through policy-making.

What should my daughter do if she feels she is struggling in Economics?

All teachers in the department are subject specialists with industry experience. It is always best for your daughter to approach their economics teacher in the first instance. We also encourage students to develop their independent working skills by advising them to use a wide range of revision materials such as online resources that include Tutor2u and Seneca online learning platform. In addition, students will need to use their revision guide and workbooks to complement their studies outside the classroom.

How can I best support my daughter in Economics?

It would be very helpful if you could talk to your daughter about their economics course, what topics they study, what they enjoy and find challenging. Economics is all around us and having conversations about the economy, business news or even discussions about the changes in interest rates, cost of living, inflation and savings could prove beneficial in your daughter’s understanding of how the theories they learn can be applied in real-life contexts. You can also encourage them to do regular revision of knowledge learned as they will need to grasp economics language and get competent in using this in their writing.

Whom should I contact for further advice or information?

For further advice or information, please contact Ms Sanda, Curriculum Leader for Business and Economics on .