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 a GCSE and A-level 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
GCSE Business Studies – Edexcel (Year 10 and 11)
In GCSE Business Studies, students examine the four key functional areas; Marketing, People, Finance and Operations in small and large businesses. Enterprise and starting up a business is the first main topic where students will identify different business opportunities and assess how they would tackle the challenges of starting up a new business. The course is made up of two exams and one piece of controlled assessment where students research a small business of their choice.
Vocational Pathways – OCR Cambridge Nationals – (Year 10 and 11)
Students will study a range of business topics, which will allow them to answer the following questions: how do you set up a business? What types of businesses are there? How do businesses employ people and make people work harder? Why do businesses produce products and services? How do you encourage people to buy more? How do businesses make products? And how are products and services affected by quality? The course consists of 75% coursework, where the first one focuses on how to set up and run a business and the second piece is about the recruitment and selection process of a business. The exam makes up the remaining 25% of the course looks at business theory and how business run and are organised.
Vocational Pathways – BTEC Business (Year 12)
Level 2 BTEC Business is a vocational course catering for students whose main strengths are completing coursework. Students are assessed through 83% coursework assignments and 17% examination. This includes topics such as business purposes, business organisation, personal selling, customer service and business finance. This course also includes a day completing a work experience placement, which allows students to gain valuable experience in the workplace.
A-level Business Studies – AQA (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 Applied Business Studies – OCR (Year 12 and 13)
This A-level course supports students whose strengths are in completing coursework. This course is 66.6% coursework and 33.3% exam, where the coursework focuses on; creating a marketing proposal, the documents involved in the recruitment process and creating a business plan. The exams look at how businesses run and how they make the important decisions which affect the whole of the business and how it is run. This will develop idea creation, research, analytical, evaluation, Harvard referencing and organisational skills. This subject like the AQA A-level covers a wide range of topics which would support students who are unsure about what subject they would like to focus on at University.
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.