Geneva English School
Students often choose Economics because they want an insight into the world of finance, but it is equally intriguing as a social science. It is the study of how people behave.
Economics will teach you to understand the world economy – the interaction between people, businesses, governments and countries. It develops your ability to analyse novel situations and apply logical principles to them. The ability to interpret mathematical models for lay-people is becoming increasingly valuable in a world where all areas of business are starting to use data to help make the most profitable or environmentally sound decisions.
In Year 12, you will learn to answer questions about financial systems and how people interact with them.
If everyone loves chips, then why is caviar so much more expensive than potatoes?
Why do governments build roads and schools, but not computers?
How do we measure the success of an economy, and how can we improve it?
In order to answer such questions, you will need to apply mathematical models, as well as consider human behaviour. You will use this as the basis to construct convincing arguments.
Following on, we will see how some of the ideas we have learned affect business, and understand why some firms grow into giants like Google and Volkswagen, whereas others remain small. Finally, you will apply everything you have learned in a global context. How can we measure, and attempt to manage, international trade, poverty and inequality?
Inspirational starting point
Wealth inequality in America – Video
The debt limit explained – Video
Preparation for the course
Economics features regularly in the news and current affairs.
A great way to prepare for the course would be to start to read the Economist magazine.
In particular, you will need to interpret graphs effectively in order to understand economic principles, so looking at the “daily chart” section would be helpful.
Governments, think-tanks and universities employ pure ‘economists’, but people who have studied Economics move equally well into the world of business and finance. According to the Times Higher Education, Economics graduates earn the second-highest salaries, second only to Medicine.
Typical roles directly connected to an Economics qualification include:
- Economic researcher
- Data analyst
- Financial risk analyst
- Financial planner
- Financial consultant
- Chartered accountant
The analytical and interpretive skills learned on the course are extremely transferable to other careers in a wide range of businesses and professions.
- Entrance criteria
- Exam board & Specification