Economics and Business Studies
Head of Department: Conor McStay
Welcome to the Economics and Business Studies Department.
Economics and Business Studies play such an important role in our daily lives. At Ivybridge we passionately believe that access to both subjects, and a developed understanding of these, will significantly enhance the opportunities available to young learners.
We are an energetic and ambitious team, who seek to deliver rich and innovative lessons that enthuse our students about Business and Economics and equip them with the skills they need to support future aspirations.
Our results reveal that students flourish in our classrooms and benefit from the support and feedback we give. We are very successful classroom practitioners who work well as a team, but offer individual and varied teaching styles.
We offer both Economics and Business Studies. Both subjects are taught to A Level.
Why study Economics and Business Studies?
By studying Economics and Business Studies, you will develop the following skills:
- Analytical thinking skills
- Communication skills
- Evaluation skills
- Numeracy skills
- Problem solving skills
- Ability to think logically
- Presentation skills
- Report writing skills.
These skills will allow you consider the following careers as possible options:
- Management consultancy
- Chartered accountancy
- Investment banking
- Banking services
- Distribution and logistics management
- Insurance underwriting
- Marketing executive
- Market research executive
- Personnel officer
- Public relations officer
- Retail management
- Sales management
Economics is taught to A Level.
We follow the Edexcel A specification. The new specifications started in September 2015.
Economics is concerned with the key issues facing us today, including globalisation, pollution and poverty. It is essentially about choice: why different sorts of people and groups of people, such as governments, have to make choices; the choices that they make, and the consequences of those choices.
The work of economists transforms our lives – if you are a firm, consumer, worker, homeowner or the government you are concerned with, and affected by, Economics. Economics teaches students to think logically and to use theories to understand how economies operate. You will be taught methods used by economists and how to understand issues such as inflation, unemployment, pollution, demand and supply, exchange rates, interest rates, and the difficult decisions the UK Government face when they attempt to steer the economy in a chosen direction. You will study microeconomics and macroeconomics.
Not a day goes by without issues relating to economics being reported in the media:
- ‘The EU referendum – which way will the UK vote?
- Why have the Government imposed a tax on sugar?
- 2008: A global meltdown. What caused it? Could it have been avoided?
- The migrant crisis – How does this affect us?
- Why are oil prices falling? How does this affect us?
- What is welfare reform? Can it be justified?
- ‘The value of the pound plummets against the Euro’ – Good news or bad?
- HS2 – How will this benefit the economy?
- Is our taxation system fair?
- ‘UK house prices start to rise’
- ‘Bank of England slashes interest rates to record low of 0.5 %’
Useful web links:
The subject studies how businesses function and looks at the work that various departments, such as marketing, finance, human resources, and production carry out. The subject also looks at how outside activities affect businesses, and in turn, how businesses react to these; for example, the effect of changes in government policy, competition and demand, and also ethical issues – such as ‘green trading’. In addition, the A Level draws together the business functions and the external environment to study the objectives and strategies that businesses adopt.
You will learn about the important decisions that businesses face in modern, competitive, and often global, environments. Topics such as:
- ‘How businesses advertise and price their goods’
- ‘How can supermarkets sell
- ‘Why a call centre may relocate to China’
- ‘Marketing strategies a company should use’
- ‘Why firms might merge’
- ‘The characteristics of a good leader
- ‘How a firm’s final accounts are compiled’
- ‘How a firm could increase its cash flow’
GCSE Business Studies
We follow the Edexcel specification at GCSE level.
Teaching to the new GCSE specifications will begin in September 2017.