Business Studies and Economics
Within the Business Studies department we develop entrepreneurial, communication, presentation, problem solving, independent learning and confidence within our students as well as ensuring they have a good understanding of business theory to support them in further education or any career they chose to go into.
The main topics which are covered in Business Studies both at Key Stage 4 and 5 are:
How a business is set up – How do people come up with an idea, where do they get the resources to start the business up?
Human Resources – How people are employed, trained and motivated in a business
Sales and Marketing – How does a business persuade you to buy their products? What advertising and promotion should the business use? What price should the products and services be sold at and where should they be sold? Who is the target market of the business?
Production and Operations – How does the business make the products or provide the service? How do they get the products and services to the customers?
Finance – How do businesses calculate their profits or losses, sales and revenue, costs, cash-flow, break-even point, as well as other financial information to help businesses make decisions
Business Law – We touch on the laws that affect businesses including those that ensure employees are employed and treated fairly and selling goods and services to customers to an appropriate standard and at a good price.
The economy – What are booms and recessions and why do they take place? How does the exchange rate affect businesses and customers? How does the government affect the business and other stakeholders like the local community.
Business Studies and Economics courses
Vocational Pathways – BTEC Technical Award in Enterprise (Year 10 and 11)
Level 1/2 BTEC Technical Award is a vocational course that consists of 3 units, two of which are coursework based and one is externally examined. The ‘Exploring Enterprises’ coursework unit focus on different types of businesses, their marketing and identification of consumer needs and the challenges they faced. Students investigate local businesses in order to apply what they have learned. The Promotion and Finance unit is externally examined and the final coursework unit, ‘Planning and Pitching an Enterprise allows students to develop their own business ideas and business models to develop awareness of the elements needed to set up a successful enterprise.
Vocational Pathways – BTEC Business (Year 12 and 13)
Level 3 BTEC National Extended Certificate is a vocational course catering for students whose main strengths are completing coursework. Students are assessed through a mixture of coursework (Unit 1 & Unit 8) and external exams (Unit 2 & Unit 3). This includes topics such as business purposes, business organisation, personal selling and customer service. The units offered also include marketing, personal and business finance and recruitment and selection.
A-level Business Studies – (Year 12 and 13)
Students should consider taking this option if they are interesting in running their own business, or in working in a larger organisation. This provides students with a broad experience of the main functional areas of a business and the factors, which affect a business, starting with how a business sets up as a small business, how it grows to a national and eventually an international business. Business Studies opens up a wide range of related subjects to concentrate on through to University and further education including; Accountancy, Finance, Marketing, Human Resources, Law, Business Management and many more.
A-level Economics (Year 12 and 13)
This A-level covers two main areas; microeconomics and macroeconomics. Microeconomics focuses on the basic economic problem of unlimited wants and scarce resources. How do markets determine the price of products and services? Students will look at the effects of demand and supply on an economy and how different industries affect each other. Macroeconomics looks at how different economics affect each other, for example how China and the European Union affect the success of the UK economy. Students will concentrate on the main macroeconomic indicators including; economic growth, unemployment, balance of payments and inflation. Students will study the recent recession and look at how the Government, Monetary Policy Committee, Firms and Consumers affect each other and the success of the economy.