Course Length: Full academic year (30 weeks)
This Year's Schedule: Click here to view
Aims of the Course
Economics will develop your understanding of how the world works, from individuals to local businesses to global corporations. You will look at theories of economics, and then by looking at actual firms the students combine the theory with what they see around them. It makes it all very interesting!
In what type of markets do McDonalds and Apple operate? How do these market structures affect their behaviour? Why is cheaper to buy an apple than a pineapple? When should a firm shut down? How does a business maximise profits? How is inflation calculated? You’ll learn about the impact global markets have on us as a countries, and how governments can influence things like inflation, taxes, wages…
Economics will give you an awareness of how modern-day society works. You will develop a greater understanding of how businesses function and what roles we play in affecting the economy.
You will have a few core texts such as Whatever Happened to Penny Candy? and Common Sense Economics and then you will be reading case studies of actual businesses, articles and looking at graphs.
Subjects Covered in the Economics Course
Each module will help you build your knowledge of modern-day economics. Units you’ll cover include:
- Resource allocation- land labour, capital and entrepreneurship
- How prices are determined
- Production, costs, revenue and profit
- Types of firms
- Market failure- taxes and subsidies
- Introduction to the national economy
- Inflation
- Interest rates
- International trade and the global economy
- The role of money and financial market
Homework Expectations
Each week, students complete a reading assignment, watch a video, answer questions based on the topic and do a data question. They also attend a one-hour webinar, where they'll look in more detail at some of the themes in the books.
Add-On Options
If you are looking for an additional IGCSE, the add on option for this course will guide you through the IGCSE in Economics. The sessions will go over the course material and provide lots of exam practice with questions that have been found on past papers, so is an excellent way to prepare students for the exam alongside one of the many revision guides available to purchase online.
How It Supports Your Child's Education
The course will serve as a high school credit in social studies for US-style, college-bound approaches. It can be a Social Studies credit for your high school diploma. It can also be an IGCSE course for those aiming to sit UK-style exams if combined with the add on. The Crammer course can be taken alongside this course in January, to prepare for the IGCSE in Economics.
Who Teaches Economics?
Helen Harrold completed her Economics degree at Lancaster University and then did a post graduate teaching qualification. She currently tutors GCSE maths, AP Economics and is a UK consultant for an American high school program . Whilst living in the UK, she has homeschooled her own 7 children using the American curriculum: so has straddled both the UK and US systems.See all courses taught by Helen