Economics GCSE

KEY STAGE 4 - GCSE

Economics is an optional subject and taught over five periods every two weeks.  Students follow the OCR specification. The qualification is made up of 2 components:

Introduction to Economics (50%)

National and International Economics (50%)

Students are regularly assessed over the two years on their knowledge and application.

TOPICS COVERED

Introduction to Economics 

  • Main economic groups and factors of production
  • Basic Economic Problem 

The role of markets and money 

  • The role of markets 
  • Supply and demand 
  • Price determination 
  • Competition policy
  • Production and productivity 
  • Labour markets
  • The role of money and financial markets 


Economic Objectives and the role of government 

  • Economic growth 
  • Unemployment 
  • Distribution of income and wealth 
  • Price stability 
  • Fiscal policy 
  • Monetary policy 
  • Supply side policy 
  • Market failure 

International trade and the global economy 

  • Importance of international trade
  • Balance of payments 
  • Exchange rates 
  • Globalisation

Specification: https://www.ocr.org.uk/Images/306377-specification-accredited-gcse-economics-j205.pdf

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