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Rooks Heath College

Rooks Heath College

Opportunity through Learning

GCSE Economics

GCSE Economics (9-1)

What are the entry requirements?

Economics is a tough but rewarding subject. You only need to see the news today to understand its importance. There is not a specific entry requirement, but good Mathematics and English would be useful. Economics is a science and theory must be learnt and understood before applying it to real life scenarios (for example, the UK economy when leaving the European Union, the role of the financial sector and the expansion of globalisation via the ever growing Multi-nationals).

What will students study?

OCR

Economics GCSE (9-1)

This is a fully linear course and consists of two mandatory components that are eternally assessed. There will be two question papers assessing the two components. Each question paper will have 20 multiple choice questions and short case studies with related short and medium response questions as well as the opportunity for extended writing.

What will be covered?

Component 1: Introduction to Economics

(80 Marks. 1 hour 30 minutes written paper. 50% of total GCSE)

1) Introduction of Economics

  • Main economic groups and factors of production
  • The basic economic problem

2) The role of markets and money

  • The role of markets
  • Demand
  • Supply
  • Price
  • Competition
  • Production
  • The labour market
  • The role of money and financial markets
Component 2: National and International Economics

(80 Marks. 1 hour 30 minutes written paper. 50% of total GCSE)

1) Economic objectives & the role of government

  • Economic growth
  • Low unemployment
  • Fair distribution of income
  • Price stability
  • Fiscal policy
  • Monetary policy
  • Supply side policies
  • Limitations of markets

2) International trade and the global economy

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