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Economics Department

“Economy is the method by which we prepare today to afford the improvements of tomorrow” - Calvin Coolidge

Curriculum Vision

Our economics curriculum is designed to give students the knowledge and skills to allow them to explore the fundamental economic problem of how best to allocate scarce resources amongst the competing and infinite needs and wants of society. To do this students must appreciate economics as a social science in which right and wrong answers sometimes do not exist but in the value judgements in between lie solutions and outcomes that can safeguard a more productive, fairer and sustainable economy.

 

All students​​

  • We believe that an understanding of economics is vital for all students in so much as it enables them to better understand the world they live in and how tough choices have to be made​
  • Students at Walthamstow Academy have often experienced socio-economic disadvantage and benefit enormously from understanding how inequality is created and alleviated ​
  • The study of economics also enhances their understanding of many other A level subjects including history, geography, sociology, business and politics​
  • Benefit from having their field of reference expanded to beyond the borders of city and country in which they live. The study of macroeconomics demands that students appreciate that an open economy such as the UK’s operates within an ever increasingly globalised world​

 

Mastery of knowledge​​

  • Our curriculum delivery is anchored in the acquisition of core knowledge required by students to be able to analyse and evaluate the questions presented by economics​
  • Our use of systematic retrieval practice ensures students are fluent in economic theory, language and logic​

 

Application

  • By presenting students with topical real world examples they are able to bridge the gap between the abstract theory of the subject and the tangible way it shapes all our lives​
  • Students are encouraged to engage with current affairs through the lens of economics, making links to the content of the curriculum and how it is brought to life​
  • Reading comprehension exercises, created from specialist media, give students opportunities to apply their knowledge and to question the efficacy of markets and policymakers to create equitable allocations of resources

Curriculum Overview

Term 1
Term 2
Term 3
Year 12
Economic methodology and the economic problem​
Price determination in a competitive market​
Production costs and revenue​
Competitive and concentrated markets​
The market mechanism, market failure and government intervention in markets​
The measurement of macroeconomic performance​
How the macroeconomy works​
Economic performance​
Macroeconomic policy;​
Monetary policy​
Fiscal policy​
Supply-side policies​
Individual economic decision making​
Year 13
Imperfect competition​
Price discrimination​
The Labour market​
Income, wealth and poverty​
Financial markets​
Commercial and investment banks​
Financial crises and regulation​
Globalisation​
Specialisation and comparative advantage​
Economic growth and development​

University and Careers

The vast majority of economists progress to university, often Russell Group universities, to study undergraduate courses in economics, law, politics, accounting & finance or international development. We have alumni reading these courses at the University of Cambridge, University College London, the London School of Economics and King’s College London ​

In recent years students have also often successfully sought degree apprenticeship placements that will lead to professional careers in finance, treasury or accountancy.

The Economics Team

  • Mr Rob Evans - Subject Leader Economics & Head of Year 12

 

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