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Economics and Business Studies

Economics and Business Studies are very popular in the Sixth Form with over half the pupils studying one or other of the subjects. An understanding of the ways in which organisations and economies work is highly valuable and the Department encourages pupils to investigate, make decisions and generally take responsibility for their studies.

This is seen as an important part of their preparation for life after school as pupils will be participating in, and be affected by, the national and global economy. Lessons are carried out in a relaxed but focused atmosphere and regularly incorporate current issues.

Head of Economics & Business Studies
Mrs Andrea J Ballance BSc
Teachers
Mr Alan O’Sullivan BSc Mrs Katherine Jeffery BSc Miss Lisa Sharratt

Resources

The Department has three classrooms on the top floor of the Coulson Centre on College Road. In addition there is a reading and resources room housing five computers, a small dedicated library, newspapers and facilities for making coffee!

The Department is currently developing an electronic library and on-line resources centre for both subjects and that will provide notes, interactive quizzes, worksheets and links to other useful sites. The Coulson Centre has a dedicated computer room housing fifteen computers that the Department shares with Maths.

Teaching

Teaching Ethos

The Department's main aim is to provide a stimulating and secure environment for learning. Relationships between staff and pupils are ones of mutual respect. Pupils are encouraged to develop their own ideas and opinions.

Economics

We often hear it said that there is 'no such thing as a free lunch', but do we really know why? Economics is the study of how we allocate scarce resources between all the competing wants of consumers in the world. We look at the role firms, individuals and governments play in this process. We consider how prices and markets are used as the main method of resource allocation, but also where the market fails to deliver. We aim to discover the costs and benefits of different policies aimed at dealing with these problems.

Thus, the sort of questions we may be studying in Economics include:

• Why have house prices fallen and risen so sharply in the last decade?
• Should the level of taxation be increased or reduced?
• Why is there still unemployment even when the economy is booming?
• Why do we get grain mountains, wine lakes and other surpluses?

Business Studies

We are surrounded by business and business information. Every day the news tells us of new products being launched, businesses starting or failing, increased levels of profit or loss, stock markets rising and falling and a range of other business change. In Business Studies we learn how and why all these things come about and crucially what decisions businesses make to adapt to the marketplace.

Thus, the sort of questions we may be studying in Business Studies include:

• Why have a firm’s profits fallen even though the economy is booming?
• Why do some marketing campaigns succeed where similar ones fail?
• How does government policy affect businesses?
• What can firms do to motivate people to work harder?
• What is the most efficient way to produce a product?

Society

In addition to usual teaching the Department has an Economics and Business Studies Society which is run by the pupils for the pupils. The society aims to develop links with Industry and Professions in the form of discussions, guest speakers and visits. In recent years the following activities have taken place:

1. Lectures on Entrepreneurship, investing in the Stock Market and successful management.
2. Trips to London to key Economics Conferences
3. Discussion forums on issues such as 'The Economics of Sport'

Young Enterprise

Each year a number of the Lower Sixth have the opportunity to take part in the Young Enterprise Scheme where they set up and run their own company. In recent years firms have had success selling calendars, making hats and scarves and organising events. In 2001 and 2002 the financial directors have been invited to London recognise their achievements.

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