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Economics and Business Studies

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Departmental Overview

The Economics and Business Studies Department is the largest department in the VIth Form with over half of all the senior pupils studying one or other subject in roughly equal number. There are six members in the department who all bring with them varying business and commercial experience.
The department is well situated in the main Connaught block with dedicated classrooms which, in conjunction with the computer rooms, help to host a range of media which complements the delivery of these contemporary subjects.

 
Academic Overview - Economics

Economics is a very popular choice for pupils in the VIth Form with an average of sixty pupils studying this subject. Many enjoy the new challenges it offers them, while others seek to take a subject that has real relevance in today’s service-based economy. In the Lower VIth the pupils study two modules which look at the core subject material. The Micro course focuses on the potential use of the market system to allocate scarce resources and thus its potential drawbacks in helping to raise levels of welfare in society. On the Macro side the pupils study the broader governmental aims of a stable economic climate and the possible methods through which this can be attained. At A2 Level the courses are more specific by focusing on areas such as Transport and Development, but they still build upon these core competencies. 

Given the contemporary nature of the subject the pupils will find it essential to get into the habit of reading a quality newspaper and thus to be excited by the many issues which affect modern society. In turn they will find that they are able to use their academic work in this subject to help make informed judgments about how Economics can offer solutions to issues such as poverty, pollution, inflation, the NHS and, more broadly, how to raise the standard of living in an economy. 

As a social science, halfway between arts and the sciences, Economics combines well with many other subjects at A Level. However, we do not allow pupils to take Economics if they are planning to take Business Studies, as the two subjects share some common ground. The subject tends to suit pupils who interested in current affairs/politics/abstract problem-solving and maths. The latter is not essential at A Level by any means, although most university Economics faculties require A Level Maths.
 

Academic Overview - Business Studies

In line with Economics, Business Studies is offered only in the VIth Form and is also very popular, with an average of seventy pupils studying this subject. In much the same way as with Economics, the subject offers pupils the chance to study a contemporary subject which will give them an important insight into the modern structure of our increasingly service-based economy. 

Business Studies is about decision-making and understanding what distinguishes one successful company from one which is less successful. At AS Level a useful starting point is to consider what distinguished Walkers and Golden Wonder crisps. The former is now the market leader whilst the latter went into liquidation with its brands sold on to the other companies. What did Walkers do that Golden Wonder did not? To this end pupils will study the four key internal functions of a business (Accounting, Marketing, Operations and People / Leadership) and then consider what are reasonable objectives and strategies for a business to pursue, given the external pressures they face. They will also study the differences between larger, more established firms and start-up companies who rely upon the entrepreneurial spirit of their founders. 

Pupils will gain most from this course if they are creative in their approach and are keen to debate the variety of different approaches a business may take to a problem. Also, to be successful they will need to be genuinely interested in contemporary issues and thus keen and willing to get into the habit of reading a quality newspaper each day.   

Examination Results - Economics

Examination results are strong with over 60% of pupils over the last two years getting an A grade and over 80% getting A/B. As a result of this we have a number of pupils who apply to read Economics and Land Economy courses at Cambridge, and given the equally strong exam results in the Politics department, there is always a strong and sizeable group of pupils who push themselves forward for the Politics, Philosophy and Economics (PPE) course at Oxford.

(Click here to go to latest examination results tables)


 

Examination Results - Business Studies

Whilst the percentage of pupils achieving an A grade is below that of Economics (44% compared to 60%), 85% managed to get an A or B grade last year. Not only was this a very strong result in itself, it also reflected a very significant value-added score in this subject, which indicates the real care and attention given to pupils to improve themselves academically. 

 

Click here to view latest exam results tables.
 

 

Departmental Activities

Given the contemporary nature of the subjects, we provide a range of stimuli from the outside world to support the pupils' learning. The lecture programme draws heavily from contacts within the department given the wealth of industry experience and also the Old Cranleighan base. Recent speakers have included Dr Richard Reid (Chief Economist at IFFC), George Buckley (UK economist at Deutsche Bank), Hannah and Guy Carey (owners of the local business onethreeseven), and Tom Mercer (Managing Director of Moma Foods!).

Trips over the last 12 months have included visits to: The Bank of England, Citi Group, Fullers Brewery and Denbies Wine Estate.