“It was not by gold or by silver, but by labour, that all wealth of the world was originally purchased.” Adam Smith

Do you follow current affairs?

Are you interested in how the economy affects businesses and individuals like yourself?

Do you want to find out how businesses succeed, and why they fail?

Do you want to find out how businesses develop new markets and grow?

Do you want to find out how businesses are set up and run?

If so, this is a perfect course for you. This specification has been specifically chosen to incorporate key aspects of both Business and Economics, exploring what motivates individuals and drives businesses forward. This course is ideal if you take an interest in what is happening in the world, want to learn about the national and global economy and have an interest in the operation of business. During the course you will develop skills in data analysis, problem-solving, giving presentations and decision-making.

Assessment is 100% examination, based on the following themes:

• Markets, Consumers and Firms. You will develop an understanding of: scarcity, choice and potential conflicts; enterprise, business and the economy; introducing the market; the role of credit in the economy; market failure and government intervention; revenue, costs, profits and cash.
• The wide Economic Environment. You will develop an understanding of: business growth and competitive advantage; firms, consumers and elasticities of demand; productive efficiency; life in a global economy; the economic cycle; introduction to macroeconomic policy.
• The Global Economy. You will develop an understanding of: globalisation; economic factors in business expansion; impact of globalisation on global companies; impact of globalisation on local and national economies; global labour markets; inequality and redistribution.
• Making Markets Work. You will develop an understanding of: competition and market power; market power and market failure; market failure across the economy; macroeconomic policies and impact on firms and individuals; risk and the financial sector.

The course is an excellent preparation for learning about the world of work, for taking the subject at university, and to complement other areas of study with a commercial focus.

It is not essential to have studied Business at GCSE, but a G5 in both Maths and English is required. If however Business was studied at GCSE, a Grade 6 or above is required as well.

For further details please contact Grant White gw@pershore.worcs.sch.uk