BUSINESS & ECONOMICS
KEY STAGE 3
Students do not follow a discrete Business & Economics programme at KS3, but enterprise is covered as part of the PSD curriculum at various stages throughout the key stage. This culminates in students participating in a three day ‘Industry Days’ project towards the end of year 9.
At GCSE we offer the opportunity to study GCSE Economics as one of the GCSE option choices. We study the OCR GCSE Economics course, which includes:
UNIT 1: How the Market Works – 25% of total GCSE (1 hour written paper)
This unit of the specification covers issues within microeconomics. Students will consider the basic economic problem and how it affects the allocation of resources in competitive markets. It will cover how price is determined through the forces of demand and supply and how a firm competes in the market.
UNIT 2: How the Economy Works – 25% of total GCSE (1 hour written paper)
This unit of the specification covers issues within macroeconomics. Students will consider three of the main variables in the economy and how these are influenced by government policy. It covers the expenditure and revenue of government, including taxes, and the effects that these have on the economy.
UNIT 3: The UK Economy and Globalisation – 50% of total GCSE (1 hour 30 min written paper based on a pre-release study)
This unit of the specification covers the UK economy and globalisation and builds on the knowledge and skills gained in units 1 and 2. Students look at trade and its implications, at a local, national and global level.
We offer A Level Business. This is a popular course where students develop a critical understanding of organisations, the markets they serve, and the process of adding value. The subject draws on a variety of disciplines, and would be a suitable accompaniment to a range of other A-level courses.
In Year 12 the specification introduces candidates to the challenges and issues of starting a business, including financial planning. It then explores the key internal functions of business and how the management of these functions can assist in improving the effectiveness and performance of a business.
In Year 13 the specification considers strategies for larger businesses and how these strategies may change according to circumstances. Finally, it considers the effects that external factors can have on businesses and how a business can plan for and manage change, including leadership style and change in business culture.
In addition to the Year 12 content outlined above A Level students will also study in Year 13:
Young Enterprise is the regular extra-curricular project provided for year 12 students who set up their own business with support from the school and a mentor from industry. The department also organises a range of trips and competitions which are advertised to students during the year. These competitions have included the Bank of England’s Target 2.0 Interest Rates and Inflation competition and the ICAEW’s BASE Business skills competition, where we have twice recently been National Finalists. Trips have included visits to the Olympic Park and the Bank of England for GCSE Economics, and have included visits to the 4Entrepreneurs conference, to the BMW Mini Plant in Oxford and a conference in Disneyland Paris for A Level Business. A visit to both JCB and Jaguar Land Rover are planned for 2017. Salisbury city centre is host to a wide range of businesses and links are well established with companies such as Reeve the Bakers.