OCR GCSE Economics (9-1)
Economics has been designed to be an engaging and relevant course for today’s students. This course enables students to appreciate we are all part of the economy and that economics relates to every aspect of our lives, from the decisions of individuals or families to the structures created by governments and producers. It will develop students’ understanding of how economic issues (the most obvious being Covid-19) affect choices about resources and markets. GCSE Economics equips students with the skills and confidence to explore how consumers, producers and governments interact nationally and internationally.
By learning how to explain and evaluate economic problems and possible solutions, students will acquire a way of thinking as economists and develop a logical approach to thinking and reasoning. By learning how to use economic data from a range of sources, such as tables, charts and graphs, students will acquire the skills to make informed judgements and to communicate in a clear and concise way. Students will benefit from these transferrable skills in their further study and employment.
GCSE Economics has two mandatory components. Component 01 introduces students to the main economic agents, the basic economic problem and the role of markets, including the labour market and the importance of the financial sector. Component 02 focusses on the main economic objectives, such as economic growth, low unemployment, fair distribution of income and price stability, and other roles of government. Other aspects are the importance of international trade and the impact of globalisation. GCSE Economics has no coursework, but two examinations of 1 hour 30 minutes at the end of the course.