The GCSE course follows the OCR specification and is assessed by external written examination at the end of Year 11. Below is a brief outline of what students are expected to understand for each unit.
Unit 1: How the Market Works
A study of how firms and consumers behave in a world with scarce resources.
- What is the economic problem?
- What are competitive markets vs a monopoly?
- How do firms operate in competitive markets?
Unit 2: How the Economy Works
A study of how the UK economy works and the conflict between different government policies.
- What are the economic objectives of the UK government?
- How does the UK government raise and spend its money?
- Which policies can the UK government use to achieve its objectives?
Unit 3: The UK Economy and Globalisation
A study of how the UK interacts with the international community in terms of trade and protectionism.
- Why do countries trade?
- Why is the UK in the European Union?
- What are exchange rates?
- How do developing economies perform in terms of international trade?
- What measures may be used to support growth for less developed countries?