Economics

Economics at NSSFC develops analytical, evaluative and critical thinking skills through the study of how markets operate, how governments intervene and how national and global economies function.

Students explore real-world economic issues, applying theoretical models to contemporary events and policy decisions.

Core strands:

  • Microeconomics – markets and market failure

  • Macroeconomics – the national and global economy

  • Economic modelling and data interpretation

  • Policy evaluation and decision-making

The curriculum is sequenced so that students first secure microeconomic foundations before applying these principles to macroeconomic performance and global trade.

Assessment consists of external examination papers requiring data analysis, extended evaluation and synoptic application. QLA from mock examinations informs responsive reteaching, particularly in diagram accuracy, chains of reasoning and 25-mark evaluative responses.

Independent learning includes economic news analysis, structured essay practice, retrieval of key models and extended reading.

 

Key Stage 3

Economics is not taught as a discrete subject at KS3.

Economic themes are introduced through Geography, Mathematics and Personal Development.

Key Stage 4

Economics is not offered at KS4.

Students interested in business and enterprise may opt for Business Studies at KS4, which provides a foundation for progression into A Level Economics.

Sixth Form – A Level Economics

Economics is offered at KS5 as an academic A Level pathway.

Core Components

  • Markets and market failure

  • National economy performance

  • Government intervention

  • International trade and globalisation

  • Financial markets

  • Macroeconomic policy

Students develop advanced analytical skills, including the construction and interpretation of economic diagrams, quantitative reasoning and structured essay writing.

Academic rigour is central to the course, with emphasis on:

  • Evaluative judgement

  • Synoptic thinking

  • Application of theory to current affairs

  • Extended written responses

KS5 Curriculum Overview

Term Year 12 Year 13
Autumn 1 Introduction to Microeconomics Market Structures & Competition
Autumn 2 Supply, Demand & Elasticity Macroeconomic Objectives
Spring 1 Production, Costs & Revenue Government Policy & Intervention
Spring 2 Market Failure Financial Markets
Summer 1 Introduction to Macroeconomics International Trade
Summer 2 Economic Growth & Unemployment Synoptic Revision & Examination Preparation

Year 13 includes structured revision cycles and bespoke intervention informed by mock QLA.

Literacy, Careers and Personal Development

Vocabulary
Students develop secure understanding of terminology including elasticity, opportunity cost, equilibrium, fiscal policy, monetary policy, inflation, productivity, market failure and globalisation.

Knowledge Organisers
Structured retrieval materials support mastery of economic diagrams, definitions and essay structures.

Careers Links
Economics supports progression into:

  • Finance and banking

  • Accountancy

  • Economics and data analysis

  • Government and civil service

  • Law

  • Business management

  • Consultancy

SMSC / Personal Development

Economics develops:

  • Moral awareness of inequality and resource allocation

  • Social understanding of national and global interdependence

  • Cultural awareness of international economic systems

  • Critical thinking and informed citizenship

Students leave with the ability to analyse complex issues and evaluate policy decisions using evidence-based reasoning.