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Economics

CURRICULUM PLAN

KEY STAGE

YEAR

AUTUMN 1

AUTUMN 2

SPRING 1

SPRING 2

SUMMER 1

SUMMER 2

KEY STAGE 3

7

 

 

 

 

 

 

Economics forum

Invite speakers from banking & Finance

8

 

 

 

Economics forum

Invite speakers from banking & Finance

 

 

 

KEY STAGE 4

9

NA

NA

NA

NA

NA

NA

10

NA

NA

NA

NA

NA

NA

11

NA

NA

NA

NA

NA

NA

KEY STAGE 5

12

 

Microeconomics

Scarcity and choice

-The basic economic problem

-The market economy

-The concept of the margin

-Opportunity cost

Specialisation and trade

Microeconomics

How competitive markets work

-Allocation of resources

-The objectives of economic agents

-Supply and demand and the interaction of markets

-Elasticity

Productive and allocative efficiency

Microeconomics Competition and market power

-Business objectives

Market structures and their implications for the way resources are allocated and the interdependence of firms

Microeconomics Labour market

-Wage determination

-Labour market issues and themes

Government intervention

Macroeconomics

Market failure and government intervention

-Market failure

-Externalities

-Information asymmetries

-Public goods

-Inequity

-Environment

-Alternative methods of government intervention

Government failure

Macroeconomics

Economic policy objectives and indicators of macroeconomic performance

-Economic growth and development

-Employment and unemployment

-Inflation

-Income distribution and welfare

Trends in macroeconomic indicators

13

 

Macroeconomics

Aggregate demand and aggregate supply

-Circular flow of income

-Aggregate demand

-Aggregate supply

-Aggregate demand and supply

-Macroeconomic equilibrium

-The Phillips curve

The economic cycle

Macroeconomics

The application of policy instruments

-Fiscal policy

-Monetary policy

-Supply side policy

-Policy conflicts

Approaches to policy and macroeconomic context

Macroeconomics

The global context

-Globalisation

-International trade

-Balance of payments

-Exchange rates

Trade policies and negotiations

The financial sector

-The role of the financial sector in the real economy

-The financial sector in developing and emerging economies

The role of the central bank Financial regulation

Revision and exam preparation

Revision and exam preparation