The Origins of Economics

The roots of the word 'economics' originate with the Greek words 'oikos' (household) and 'nomos' (rules or laws).  Greek philosophers such as Aristotle and Xenophon first observed the economic behaviour of estates, which was the economic unit of analysis much like businesses in today's economies. From the interaction of these units emerged systematic patterns of behaviour that appeared to be laws or norms of behaviour.

What is Economics?

Economics is a way of thinking about the world. It allows us to make informed decisions about the future by taking into account various factors affecting it.  Economics is a social science that attempts to explain such phenomena through the use of logical, historical and philosophical analysis.  This includes how the world's major economies are trying to encourage free trade and alleviate poverty in less developed areas of the world such as Sub-Saharan Africa.

What will I Learn?

Studying economics allows a student to learn a lot of skills and knowledge that they can apply to other jobs or their personal life. Learning about interest rates, exchange rates, equity markets and economic indicators can help you make better decisions about investing and obtaining mortgages.

You will learn to understand the global economy as well as the latest issues concerning health, education and the environment. You will gain research and evaluation skills as well as being able to assess the arguments for and against a particular viewpoint. Essay writing skills are also developed as well as being able to master a brief quickly.

Economics will provide an individual with numerical, analytical and evaluative skills. These will help you to think in a complex and precise way. How to analyse problems and communicate your findings effectively? These skills are valued in a wide range of careers. These include mathematics, political economists, contract lawyers, judges, investment bankers and much more.

The AS & A2 Course

The Economics AS level gives an overview of a range of theories and concepts. It includes areas such as demand and supply, commodities, the environment, education and health as well as looking at the whole economy considering interest rates, taxes and government spending, inflation and unemployment.  The A2 qualification goes into more detail, comprising of an understanding of the global economy, how governments may respond to issues of inflation and unemployment as well as the Euro.  Part of one unit considers the economics of development and how some countries appear to develop more quickly than others. 

In order to study economics at A-level it strongly recommended that students have achieved good grades in Maths and English Language to provide the necessary key skills for Economics...

Which subjects can be studied alongside Economics?

This is a subject that complements a range of AS/A2 subjects e.g. ICT, Business Studies, English, History, Religious Education, Sociology, Psychology etc. It may even be studied alongside science subjects as your fourth AS.

Career Options

Economics is a very highly regarded, academic qualification by many different subject areas.  With a qualification in Economics, there are many career paths open to you. These include management, banking and the financial sectors, the civil service, local government as well as many blue-chip companies. Economists are now in short supply and can command high starting salaries after graduation.

So, if you are interested in how the world is interdependent with respect to their economies and have an enquiring mind then Economics is for you.

George Clements

Head of Economics