The Economics department aims to provide a learning experience that is topical, inspiring, stretching and enjoyable.
WHY IS ECONOMICS EXCITING AT CLSG?
The CLSG Economics department works hard to ensure learning takes place in an environment which is both supportive and non-judgemental. Most lessons are discussion based and encourage students to develop an ability to argue their own opinions using economic theory with logical analysis.
Teachers will use both historical and current examples to introduce topics and to support students in their efforts to apply the theory to real life situations. In order to foster a knowledge and understanding of recent economic affairs, the department makes use of social media including Twitter, Scoop. It and an internal blog and allows us to share thoughts and information and encourages an atmosphere of mutual co-operation and support.
There are weekly enrichment sessions for those Year 13 students who would like to explore the subject beyond A Level. These lessons include an exploration of the links with economics and other academic disciplines including ethics, psychology and politics.
There are four units, each of which is assessed by external examination in May/June of Year 12 and 13. Students can retake their Year 12 units in Year 13 if necessary. Below is a very brief outline of what students are expected to understand for each unit.
Unit 1 (Microeconomics):
- the basic economic problem is one of scarcity
- price determination in markets
- implication of price changes
- reasons why markets may or may not result in an efficient outcome
Unit 2 (National Macroeconomics):
- how best a government should manage an economy to ensure it has: low unemployment
- sustainable GDP growth, low inflation and a balance between its exports and imports
- an analysis of fiscal, monetary and supply side policies
Unit 3 (Business Economics):
- learning what businesses aim to achieve
- analysing at what quantity and price level different types of firms achieve their objectives; this includes graphical analysis and understanding game theory
- when and how governments should regulate businesses
Unit 4 (Global Economics):
- the cause and implications of globalisation
- the best way a country can prosper in terms of trade policy and domestic policy
- the factors influencing income distribution between countries and individuals
- the best ways economic development can be fostered
A Level - Edexcel
RECENT TRIPS/LEARNING ACTIVITES
All Year 13 students have the option of taking part in a competition called "Target Two Point Zero - The Bank of England and The Times Internet Rate Challenge". For this, a CLSG team undertakes research to predict what will happen to UK inflation rates. The team makes a decision on what the Bank of England should do with interest rates and quantitative easing to try and ensure inflation hits the 2% target. Four girls report back to the Bank the findings of our research in a 15 minute presentation. This is a superb opportunity to learn how to discover, handle and present significant quantities of complex data and get a much better idea of how the economy functions. In the last four years, CLSG teams have reached the London final three times.
CLSG economists have had recent success in the prestigious Royal Economic Society essay competition with two students in the past three years seeing their essays make it through to the national final. To view the 2013 results, please click here.
The school makes use of its location in The City and its links with Livery Companies such as The Worshipful Company of World Traders to organise various speakers that have a great deal of relevance to economic students. These talks are usually open to the whole of the Sixth Form rather than just A Level economists. Recent speakers have included author and journalist, Tim Harford; former Deputy Governor of the Bank of England, Paul Tucker; and President of the Adam Smith Institute, Dr. Madsen Pirie.
Our location also means that many economics conferences and venues can be reached easily making short trips possible. Recent examples include the London School of Economics, the Marx Memorial Library and the Museum of London. For the past two years we have undertaken a tour of the Coca Cola factory in Edmonton as an introduction to Business Economics.
The external link below is for a website that brings together interesting articles for A level economists to give students an idea of issues they study.
"Economics has replaced my presuppositions with opinions that are grounded in reasoning and theory" Eliza
"Having lessons based around discussion and trying to gain a genuine understanding of how the world works in both theory and in practice makes Economics at A Level an enjoyable and useful subject to take. Anyone who takes an interest in trying to make the world a better place or has opinions on how to do so should definitely take this subject!" Isabel
Head of Department
Mr A Kanwar