Welcome to Economics and the transition work for Y11 students going into Y12

If you are looking at this page then you probably have an interest in what exactly economics is. This is good since economics is all about developing an interest and furthering your understanding of how the world works. 

Economics will be a brand new subject for most of you. Some of you will have studied Business at GCSE and whilst the two subjects are very different, some overlap exists between the two. In essence, economics looks at the interactions between consumers, businesses and governments and seeks to address, understand and predict the choices that we all make.

At Chellaston we study the AQA A-Level in Economics which comprises two distinct elements; Macroeconomics and Microeconomics. These are taught as separate units and you will be assessed on your understanding of both.

 Macroeconomics considers the overall world economy and looks at the big picture of what is happening. This will take into account government policy as we have seen in the Covid policy. You will have seen politicians and commentators discussing the social and economic impact of the pandemic and the government's response to this. We will also look at the long-term impact of the government policy and the economic outlook for the UK and global economy over the next decade. 

Microeconomics consider the decisions that individuals and firms make collectively and the impact of these on consumers, firms and governments. Since the economic policy of governments is so important, it makes sense to study and understand all aspects of that policy.

The information below is intended to help you begin your studies in September with a basic understanding of economics and to ensure that you have an expectation about what you will be studying. The course will develop quite quickly and we will help you develop evaluative essay writing skills to help you explain your understanding.

All A-level students should be reading and learning about the real world of business and there is no better time to be doing this now. I have no particular preference in where you get your news from as long as you are aware of any political leanings of the publication. To support you, the department has a twitter account twitter.com/ChellastonBusi1 and I would encourage you to follow this.

The following document is what I would expect all students to complete over the summer along with wider reading. This will give you a good introduction to the course and the content and cover some of the basic knowledge and terminology that we need to know to explore the subject further.

If you have any questions or concerns about the course, please do not hesitate to contact me (C.Randall@chellaston.derby.sch.uk). I look forward to seeing you in September!