Economics is a popular choice for sixth form students at Calday. The course appeals to those who have an interest in current affairs, politics and modern history, since insight into Economics is essential for understanding these subjects. We also attract students who enjoy the analysis of issues and debates using rigorous models. Economics is a way of thinking about things that sheds light on many aspects of modern life. Whilst there is only a limited mathematical content in Economics at A level, at the university level, mathematical models and techniques are an important aspect of the subject.
The two main components of the A-Level course are Macroeconomics and Microeconomics.
Microeconomics involves the study of the behaviour of consumers and businesses, analysing how markets work. Issues such as the housing market, the price of petrol, and why highly-skilled economists are paid less than unskilled celebrities are some of the topics we address. We also look at the theory behind the operations of firms and business enterprises, and the rationale for government intervention.
Macroeconomics is the study of the whole economy - topics such as inflation, unemployment, government policy and international trade are key issues here. We seek to address questions such as: Is the government running the economy well? Could it be run better? Study Macroeconomics and you might find out.