"Demand and supply are the opposite extremes of the beam, whence depend the scales of dearness and cheapness; the price is the point of equilibrium, where the momentum of the one ceases, and that of the other begins."
Jean-Baptiste Say
French economist
Mr G. Constable
Head of Economics
Economics is a fast moving, highly relevant real world subject which enables students to make sense of local markets and world wide events. For example how has Britain, a small island, become one of the top 10 richest countries in the world, and how have Economic shocks like the banking crisis, Brexit and Covid endangered this position. Students will learn about different markets such as the Labour market and with the use of diagrams be able to explain why a Doctor earns more than a factory worker. Students will gain an understanding of competition and compare different Economic systems like North Korea to the USA and why sometimes markets fail.
The course will teach learners how to analyse data and construct diagrams to help explain complex situations. In addition the course looks at the behavioural science behind individuals sometimes irrational decisions and how Governments try to manage an Economy to benefit the majority of its citizens with different Economic policies. Students will be able to evaluate the benefits of Globalisation and why inequality has increased.
By studying Economics students will acquire competence in quantitative skills that are relevant to the subject content and be familiar with the various types of statistical and other data which are commonly used by economists. They will be able to make relevant calculations from economic data and be able to interpret data presented in the form of index numbers and construct graphs and to go on to write an evaluation from a case study.
