Economics
Economics requires a unique combination of skills, not only the analytical element of a science, but also an ability to explain concepts critically in written prose. It is a social science that combines well with both Arts and Science subjects.
The Economics department at Sedbergh has two members of teaching staff and
is housed in the Mathematics department.
The basis of Economics is the allocation of resources amongst individuals
in order to satisfy their wants and needs. In microeconomics, the decisions
of individuals about how to spend their money are studied, along with the decisions
of firms about what products to produce. Macroeconomics is the study of the
economy as a whole and how it is affected by such things as changes in interest
rates or levels of government spending. Macroeconomics also looks at a country's
economy in an international context with regard to such things as trade flows
and exchange rates.
Through studying Economics pupils will develop an understanding of current
economic issues which will help with investment and borrowing decisions later
in life. They will learn to explain a variety of real-world phenomena from an
economic perspective and learn to analyse, explain and evaluate the strengths
and weaknesses of the market economy and the role of government within it.
The subject helps pupils to develop clear logical thinking and an analytical
approach to problem solving and how to apply this to real and theoretical events.
The course requires an ability to write clear and concise English.
Course requirements
Economics is available to A-level students. At AS and A2 levels it requires
a reasonable level of numeracy, but is not overtly mathematical. A grade B or
better in Mathematics at GCSE is highly desirable.
Higher Education
Economics A-level is not a requirement for entry to read Economics at university
but about 70% of Economics undergraduates have taken A-level in the subject.
Many universities require an A-level in Mathematics for their Economics courses.
Economics graduates are employed in all walks of life, but Finance, Business
and Commerce, Management and Accountancy are common professions.