The old definition of Economics was that it sought to explain ‘the allocation of scarce resources amongst competing wants’... but that definition is now simply too narrow.
Economics is about life!... but that definition is too broad, so consider the following:-
How do you spend your income so you derive the most satisfaction out of it?
Why is it compulsory to ‘consume’ education between the ages of 5 and 18?
What is a good view worth?
What does a government do to allow its citizens to pursue happiness and for businesses to compete effectively with others from all over the world?
The study of Economics does not provide definitive answers to these questions, but it does give students the tools to explore these issues and back up their answers with their own opinions, based on evidence.
What sort of students study Economics?
So, a student might enjoy studying Economics if:
- She is interested in the world of economics and business (for example, current problems in the Eurozone and government debt).
- She has strong opinions, but can assimilate new ideas and weigh up evidence from competing sources.
- She has good attention to detail and can express herself well in written work.
Economics sits very well with all other GCSE and A level subjects (except Business Studies) so it can be combined with arts, social science and pure science subjects.
What can a student do with an A level in Economics?
Just about anything! Students who have studied Economics go on to study the full range of degree disciplines. Many go on to study Economics and business related degrees such as Management and Business Studies in its various forms. However, students can proceed to study arts based subjects, such as History, English, or Languages. Others read for a degree in Engineering, Pharmacy, or the pure sciences.
If a student thinks that she might like to study Economics at university, then she really needs to study Mathematics to AS level. Moreover, if she wants to study Economics at one of the top UK universities, then she would need to study Mathematics to the full A level.
Staff: Miss L Bellerby