Economics and Business Studies
Head of Department – Ms S. Aziz
Business Studies and Economics is solely a sixth-form department at TBGS, and one which seeks to provide business and economic insights to students, and to equip them with skills that enable informed decision-making. Students are encouraged to expand their political knowledge and develop their awareness of current affairs, both global and local, as it pertains to these subjects. The department feels that in today’s world, where media headlines and fake news can manipulate individuals, there should be an opportunity for young individuals to develop a working knowledge of basic economic principles and use them to look beyond the headlines. This would not only allow them to think for themselves but make them less susceptible to manipulation thus challenging the prevailing dogma.
Business Studies aims to provide each student with the fundamental factual information surrounding businesses and their operations. It examines the objectives of business organisations and how these objectives are attained. The course is not intended to be vocational but aims to make candidates aware of all that business involves in terms of strategy, workforce management and the wider world.
Both subjects are linear with external exams at the end of two years of study. New concepts, introduced in year 12, are built upon through discussion and debate untill year 13 sees the emergence of highly complex and sophisticated analysis and evaluation from students. In Economics, this can be analysis of government policy or socio-economic phenomenon, such as the Covid crisis, while in Business, this would be in terms of changes to work practices and response to external factors affecting markets.
The department has been successful in the number of students who have gone on to pursue Economics and Business related courses; it has had considerable Oxbridge successes as well as students who join Russel Group Universities with PPE, Economics and Management, Business Management and Business Economics being the most popular. Alumni students are keen to stay in touch and regularly return to talk to current students about where their careers in economics and business have taken them.
Economics
A level – AQA
The A level consists of Micro and Macroeconomics; the former deals with Markets and how they operate, Behavioural Economics, Market failure and Government intervention while the latter looks at National and International aspects such as Government Policies, Exchange Rates, Development, Trade and Globalisation. Over the course of two years, students accumulate knowledge through lessons, external reading and projects. Students are strongly urged to invest time in keeping abreast current affairs as there is much emphasis on discussion and debate of socio-economic phenomenon.
The course is linear with three papers sat at the end of the two years comprising of a mix of data response and essay questions, with paper 3 being synoptic in nature.
IB
The IB course consists of 4 units:
- Introduction to Economics (historical context with the aim to familiarise students with various economic schools of thought);
- Microeconomics (markets and how they work, market failure, behavioural economics and government policy);
- Macroeconomics (macroeconomic issues and policy, policy implementation and limitations);
- The Global Economy (trade, globalisation and sustainable development).
Classes are mixed with SL and HL students; HL students go onto the study of HL topics as the course is structured to facilitate this. Internal Assessment is a vital feature of IB contributing 20% to the final grade at HL and 30% at SL.
Students garner knowledge through discussion, debate, rigorous lessons and external reading.
HL students sit 3 exams comprising of data response and essay questions with the paper 3 having a quantitative element to it. SL students are not tested on quantitative skills, so do only two papers comprising of data response and essays questions.
Business Studies
A-Level – Edexcel
The course is aimed to introduce students to the basic development of a business and the considerations it needs to take into account in order to remain solvent. These issues are analysed and evaluated throughout the year with reference to the main functional areas in the business. In Year 13, students look at bigger, more complex, businesses and are introduced to the tools required to assess their financial health and resilience to internal and external shocks. Thus, they are able to identify the challenges and opportunities that businesses are facing due to technological change and globalisation.
The course is linear with three papers sat at the end of the two years comprising of a mix of data response and essay questions, with paper 3 being based on a case study.
Opportunities
Economics & Business has cultivated strong links with past alumni and frequently arranges talks by former students. This allows our current cohort to benefit from their insights in to university and the job market and is invaluable enrichment.
The department runs eSoc which is an Economics Society predominantly run by Sixth Formers where current topics are discussed & debated. In addition an Economics club is being launched to introduce the basics of the subject to Years 10/11 in order to allow them an opportunity to stretch themselves and enjoy the intrinsic benefits of this subject; committed students will have the opportunity to sit a GCSE exam for the subject.
