Curriculum intent:

KS4

In the first component, “markets and firms”, the sub-topics are structured so that students first learn the basic tools and models of economics including the demand and supply model, then apply these to firms and different types of markets including labour market and financial market. 

In the second component, “national and international economics”, the sub-topics are structured so that students first learn the macroeconomic indicators and objectives, followed by the government policies used to achieve these objectives such as fiscal and monetary policy, then finally extend this to the context of the international economy. 

KS5

The curriculum promotes a logical and empirical discussion of opposing economic ideals: planned economy and the free market. This would equip pupils with the language and tools to access contemporary debates on how resources are allocated. Our target is that students use this language and tools to call the underpinnings of economic theories into question. These debates are crucial to each different career sector in which the subject of economics is used: commercial, institutional, and academic.

We categorise the curriculum into two components - microeconomics and macroeconomics.

In the first component, “microeconomics”, the curriculum is sequenced using a “zigzag” structure between opposing economic ideals: planned economy and the free market. Students are taught:

1) basic concepts and market models such as demand and supply model, cost and revenue of firms.

2) how these models behave and perform such as factors influencing the equilibrium.

3) a rationale for government intervention such as market failure from externalities.

4) how this intervention has the potential to fail such as government failure from taxation, minimum prices and regulation.

In the second component, “macroeconomics”, the curriculum is sequenced from a context of national economic performance to the international economy. Students are taught:

1) basic concepts and macro market models such as aggregate demand and aggregate supply.

2) main objectives and indicators such as unemployment and inflation

3) government policies used to influence the national economy such as fiscal and monetary policy.

4) application to the international economy such as trade policy and exchange rates.

Exam board: GCSE: OCR

A Level: OCR

Key Stage 4
	Autumn Term 1	Autumn Term 2
Year 10	Main economic groups and factors of production Basic economic problem Role of markets	Demand Supply
Year 11	Low unemployment Fair distribution of income Price stability	Fiscal policy Mid-year assessment Monetary policy

Key Stage 4
	Spring Term 1	Spring Term 2
Year 10	Price Competition Mid-year assessment	Production Labour markets
Year 11	Supply side policies Limitations of markets International trade	Balance of payments Exchange rates Globalisation End of year assessment

Key Stage 4
	Summer Term 1	Summer Term 2
Year 10	Financial markets Revision	End of year assessment Economic growth
Year 11	Exam preparation	Exam preparation

 

Key Stage 5
	Autumn Term 1	Autumn Term 2
Year 12	Microeconomics (4hrs) Economic problem Opportunity cost Allocation of resources Specialisation and trade Demand	Microeconomics (4hrs) Supply Interaction of demand and supply Elasticity
	Macroeconomics (4hrs) Circular flow of income Aggregate demand Aggregate supply	Macroeconomics (4hrs) Multiplier and accelerator Economic growth Development
Year 13	Microeconomics (4hrs) Cost, revenue, profit Economics of scale	Microeconomics (4hrs) Mid-year assessment Perfect competition Monopoly
	Macroeconomics (4hrs) International trade Exchange rates	Macroeconomics (4hrs) Mid-year assessment Globalisation

Key Stage 5
	Spring Term 1	Spring Term 2
Year 12	Microeconomics (4hrs) Concept of the margin Revision	Microeconomics (4hrs) Mid-year assessment Market failure and externalities Information failure
	Macroeconomics (4hrs) Employment Inflation Revision	Macroeconomics (4hrs) Mid-year assessment Balance of payments Income distribution and welfare
Year 13	Microeconomics (4hrs) Monopolistic competition Oligopoly Contestable markets	Microeconomics (4hrs) End of year assessment Demand for labour Supply for labour Labour market
	Macroeconomics (8hrs) Trade policies and negotiations	Macroeconomics (8hrs) End of year assessment Financial sector Financial regulation

Key Stage 5
	Summer Term 1	Summer Term 2
Year 12	Microeconomics (4hrs) Public goods Government intervention Revision	Microeconomics (4hrs) End of year assessment Business objectives
	Macroeconomic (4hrs) Fiscal policy Money and interest rates Monetary policy Revision	Macroeconomic (4hrs) End of year assessment Supply side policy Phillips curve Policy conflicts
Year 13	Exam preparation	Exam preparation