Many, if not most, of the nation's and the world's most significant social problems have an economic dimension. Microeconomics provides the tools to analyse the trade-offs that individuals, firms, and governments confront because of limited resources. It considers the choices that are made, the social context in which they take place and the implications for human welfare.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design
KS3Economics is not offered at KS3
KS4 economics enables students to: develop an understanding of economic concepts and apply these concepts to real-life situations, calculate, interpret, and evaluate economic data in order to make reasoned arguments and informed judgements, develop an awareness of economic change and its impact on developing and developed economies, understand economic issues, problems and possible solutions that affect mixed economies, participate effectively in society as citizens, producers and consumers.
Economics addresses the world's most significant social problems. Economists study a wide range of controversial public policy questions, including environmental regulation, government restrictions on domestic and international markets, the structure of the legal system and the design of tax policy. Economists also explore the sources of economic growth and the causes of recessions and inflation. They also assess monetary policy, explain the performance of financial markets, and consider international trade and financial links