Business and Economics
Some of our students will go on to create / or own a business. Many others may go into business management and most will at least work within a business organisation for a large part of their lives.
What do we want our students to develop?
- Knowledge of course concepts and the real-world business and economic climate.
- A genuine interest and passion for the subjects.
- An awareness of the different Post 18 courses offered and careers options linked to the two subjects.
- Exam skills of application, analysis and evaluation which enables them to achieve at SGS and beyond in Higher Education.
- Transferable skills which they can apply to all courses, apprenticeships and the wrold of work in general.
What do we offer?
- GCSE AQA Business
- AS and A Level AQA Business
- AS and A Level AQA Economics
Why AQA?
- Strong Performance of past cohorts.
- Style of assessment and skills suits our students.
- AQA offer a decent level of support and range of support resources.
- Tutor 2u is a great tool for Business and Economics courses and many resources are tailored towards the AQA specification.
Meet the Team
| The Department | A Level | GCSE |
|---|---|---|
| Mr Latimer |
Year 12 and 13 Economics Year 12 Business |
Year 10 and 11 Business |
| Mrs Kivell | Year 12 and 13 Business | Year 10 and 11 Business |
| Mrs Steen | Year 12 and 13 Business | |
| Mr Hodgson |
Year 12 and 13 Economics Year 12 Business |
Year 10 and 11 Business |
| Mr Brittain | Year 12 Business | Year 10 and 11 Business |
Learning Journey and Pathway
GCSE AQA Business
| Yr10 HT1 | 3.1 Business in the real world | |
| Yr10 HT2 | 3.1 Business in the real world | December end of unit assessment |
| Yr10 HT3 | 3.4 Human resources | March end of unit assessment |
| Yr10 HT4 | 3.3 Operations | April/ May end of unit assessment |
| Yr10 HT5 | Revision | Paper 1 assessment in the hall |
| Yr10 HT6 | 3.5 Marketing | |
| Yr11 HT1 | 3.5 Marketing | October end of unit assessment |
| Yr11 HT2 | 3.6 Finance | Paper 1 assessment in the hall |
| Yr11 HT3 | 3.6 Finance | February end of unit assessment |
| Yr11 HT4 | 3.2 Influences on a Business | Paper 2 assessment |
| Yr11 HT5 | Revision | |
| Yr11 HT6 | Exam Leave |
Assessments
| Paper 1: Influences of operations and HRM on Business activity | Paper 2: Influences of marketing and finance on Business activity |
|---|---|
|
What's Assessed
|
What's Assessed
|
|
How it's assessed
|
How it's assessed
|
|
Questions
|
Questions
|
We usually have 100+ students studying GCSE Business. We teach 3.4 Human Resources prior to 3.3. Operations in order to give students exam skills a chance to develop and knowledge of business vocabulary a chance to grow before tackling the more difficult content in 3.3.
The pathway is intended to lead to both A Level Business and Economics.
We have 4 Business and 3 Economics groups in Yr. 12 and 2 Business and 2 Economics groups in Yr. 13 and this has been the case for the past few years. They are popular subjects and the retention rate is quite high. We also offer the opportunity to take the subjects as an AS option which helps with recruitment.
A Level Business
An AS or A-Level in Business is useful preparation not only for Business degrees but also for studying Economics, Management and other Social Sciences. Some Business graduates teach or lecture in schools, colleges or universities, or work for government departments. Others specialise in one aspect of Business, such as marketing and then obtain work either in a marketing firm or the marketing department of a larger company. Many business graduates will move into general management. Whatever career is pursued, students will find that A-Level Business is a useful subject to have studied as the concepts covered are relevant to any career. The subject also allows students to develop and use a range of competencies such as research, numeracy, literacy, analytical, evaluative and debating skills.
Course Content
3.1 What is business? (Year one)
3.2 Managers, leadership and decision making (Year one)
3.3 Marketing Management (Year one)
3.4 Operational Management (Year one)
3.5 Financial Management (Year one)
3.6 Human Resources Management (Year one)
3.7 Analysis the strategic position of a business (Year two)
3.8 Choosing strategic direction (Year two)
3.9 Strategic methods: how to pursue strategies (Year two)
3.10 Managing strategic change (Year two)
A Level Business Assessment
| Paper 1: Business 1 | Paper 2: Business 2 | Paper 3: Business 3 |
|---|---|---|
|
What's Assessed All content above |
What's assessed All content above |
What's assessed All content above |
|
Assessed
|
Assessed
|
Assessed
|
|
Questions Three compulsory sections:
|
Questions Three data response compulsory questions worth approximately 33 marks each and made up of three or four part questions |
Questions One compulsory case study followed by approximately six questions. |
In Year 12, teachers specialise in different functional areas as follows;
- Marketing and Operations: CS and TBR
- Finance and Human Resources: CZK, MHO & PCL
Students have two teachers as we feel this provides variety to students and staff alike and supports staff specialism in certain areas across the cohort.
In Year 13, it doesn’t work as well to split units but teachers specialise in different topic areas of each unit – as per the SOW.
A Level Economics
Economics is a popular subject at AS and A Level and university alike. It is a subject which allows students to understand and relate to current affairs and the world which is going on around us. A lot of current issues and problems are to do with Economics e.g. the impact of Covid-19 on the UK and world economy, rising inflation, increasing energy bills, labour shortages, rising interest rates, BREXIT and supply chain issues, and the fluctuating value of the £. We are all involved in everyday economic decisions such as how we spend our money, where we work, how much we get paid and how we vote. We want students to be interested in understanding the news items, knowing what newspaper articles mean, and asking questions about government decisions. A degree in Economics is regularly reported as being one of the top 10 degrees in terms of starting salary post university and it is a flexible subject which can also be combined with other subjects such as Business, Finance, Maths, Politics and languages. The subject also allows students to develop and use a range of competencies such as research, numeracy, literacy, analytical, evaluative and debating skills.
Course Content
Individuals, firms, markets and market failure
- Economic methodology and the economic problem
- Individual economic decision making
- Price determination in a competitive market
- Production, costs and revenue
- Perfect competition, imperfectly competitive markets and monopoly
- The labour market
- The distribution of income and wealth: poverty and inequality
- The market mechanism, market failure and government intervention in markets
The national and international economy
- The measurement of macroeconomic performance
- How the macroeconomy works : the circular flow of income, AD/AS analysis, and related concepts
- Economic performance
- Financial markets and monetary policy
- Fiscal policy and supply-side policies
- The international economy
A Level Economics Assessment
| Paper 1: Markets and market failure | Paper 2: National and internation economy | Paper 3: Economic principles and issues |
|---|---|---|
|
What's assessed Content 1-8 above |
What's assessed Content 9-14 above |
What's assessed All content 1-14 above |
|
Assessed
|
Assessed
|
Assessed
|
|
Questions
|
Questions
|
Questions
|
Teachers specialise in different areas as follows;
- Micro-economics: Operation of Markets and Market failure - PCL
- Macro-economics: The National economy in a global context – MHO
- Paper 3 is co-taught from March of Yr. 13. PCL covers all micro based MCQs and MHO all macro based MCQs.
- The same intro lesson and structure documents are used with each group and staff take responsibility for delivery of 3 entire past papers via a mixture of in class planning and homework
- A full mock Paper 3 is delivered, marked and gone through prior to study leave
Students have two teachers as we feel this provides variety to students and staff alike and supports staff specialism in certain areas across the cohort.
Key strands of teaching within the department
We want members of staff to have some creative freedom to express their own personality and teaching style within their lessons. However, the below are key themes which we aim to keep consistent across all cohorts, year groups, and subjects.
1. Knowledge
Knowledge is power. Staff have superb subject knowledge and we need to imprint this upon students. We sometimes expect students to write logical and fluent arguments and make good use of terminology which is even harder with a subject where all the language is new. If they don’t know their key terms and theory then they ‘play it safe’ and avoid using key terms or Business Bingo occurs where they pick key terms are random to connect and thus use them incorrectly. Staff should stick closely to the scheme of work and order of teaching to ensure consistency across the cohort.
Methods
- Key terms focus in notes and revision
- Glossaries of terms
- Memory retrieval tasks
- Theory videos in A Level important info folders
- Knowledge practice tutor 2u booklets & numeracy tasks etc.
- Revision in class – recap/review booklets
- Relentless diagram practice in A Level Economics
- With some, additional support for core content/knowledge gaps
2. Deliberate practice/ skills-based work
If we want them to do well, they need to know what to do and how to do it. Do they know the key skills in the subject? Knowledge/Content, Application, Analysis & Evaluation. A consistent focus on these skills should be evident in areas of classwork and homework.
Methods
- Skills sheets and skills lessons. Students are all provided with success criteria/structuring answers documents in course booklets
- Provide a framework – BLT, PECAN PiE or PEE/PEEL etc.
- Classwork written tasks: Development activities including explain tasks and past paper questions
- Self-assessment and peer assessment - use of connectives, business terminology and case study info etc.
- A Level essay planning – students often have a grasp of content but really struggle to apply it to some essays
- Rigour of practice = students know how to plan quickly and effectively and to answer the question set – facilitates less time thinking and more time writing. For weaker students = a template of model answers to rote learn and encouraged to type up etc.
- Homework:
- A regular diet of past paper questions to always be used or exam papers produced by Tutor 2u. Older questions need tailoring to changes in the assessment style
- HW must prepare them for the style of questions in the exam or why do it?
- Research opportunities are set to build contextual knowledge and understanding but also to raise all round awareness of the real-world Business and Economic climate and raise interest and engagement
- Academic mentors are used regularly for students below target in GCSE and Year One of A Level. Students are paired according to their personalities and areas of academic need for the mentee and the academic strengths of the mentor. Staff to provide tailored resources and check on progress.
3. Reflection and Feedback
If we want students to improve then they need to know how they can do so – what errors have they made and which are the keys areas of focus? They also need an opportunity to reflect upon their work to truly understand strengths and weaknesses and then an opportunity to put this into action soon after.
Methods
- Marking which is in line with AQA assessment criteria and levels marking
- Skills based marking in Year 12 Business – to show students their key area of focus. Assessments marked via AQA levels approach
- Individual target setting which are skills based – clear focus and reference to assessment objectives
- Whole class feedback – verbal, written, essay plans or exemplar work
- DIRT time and completion of mappers after assessments
- Asking students to revisit/address previous targets
- High expectations - students to redo a piece of work /part of a piece of work or assessment when effort is below minimal expectations or work is significantly below target.
- Exemplar/model answers and essay plans to be used – photocopied for students or shown via the visualiser. Approach can include;
- Best practice – top level answers
- How to improve - a lower L3 or L4 answer
- Showing work of students with most efficient technique
3. Signalling and signposting/ msconception
We have experience of previous cohorts and we know what misunderstandings there will be so it’s important to highlight them early on and try to eliminate them rather than wait for students to make them. Also, if we want students to grasp a concept/skill or prevent a misconception then they need showing. Modelling of these skills can be done in lessons, within notes or via whole class feedback.
Methods
- Signpost misconceptions in notes e.g. Stakeholders/shareholders, place vs. location, cash flow vs. profit, profit margin vs total profit & capacity vs. capacity utilisation
- Common misconception documents in course booklets
- A Level Economics MC tips and diagram ‘rules’
- Numeracy tips and potential issues and how to analyse data
- Provision of how to guides / success criteria and scaffolding resources
- Signposting/modelling of key skills such as evaluation
5. Independent learning
Evidence shows that a positive independent learning mindset in KS5 in particular really does work and is essential to success – it is the thing which differentiates many students of similar levels of ability at SGS. Not all will engage but we need to let them know what they can do and what resources they can access.
Methods
- The A Level course booklets contain a list of independent learning activities for students to complete along;
- Research link
- Revision links
- Recommended reading lists
- In addition, the A Level important info folders in student shared contain;
- A course companion
- Written past papers / MC papers
- Admin docs – SOW, skills sheets, hw success criteria
- Theory videos
- Glossaries of terms
- Tutor 2u knowledge/practice books
- Essay plans
- Revision resources
- Real SGS marked exam scripts (without names!)
- Department owned Business and Economics books are advertised in classrooms
Tutor 2u resources, blogs and webinars are advertised and promoted to students
Post 18
The majority of students at SGS go on to university and a small, but increasing number, go on to apprenticeships. There are a high number of our students which go on to study Business, Management & Finance, and Economics related course or an apprenticeship in these fields with organisations such as PwC, KPMG & EY. This reflects the variety and flexibility of the courses offered but also a sign of their enjoyment and success in the subjects. A sample the of the degree level courses students have gone on to do after studying A Level Business and/or Economics;
| Business Management | Fashion Marketing | Int. Dept with Economics |
| Business Internation Management | Mathematics, Ops Research, Statistics, Economics (MORSE) | Economics and a language |
| Accounting and Finance | Business information systems | Economics and Finance |
| Business and Language | Human resource management | Economics and politics |
| Marketing management | Football business and finance | Policy, politics and Economics |
| Business analytics | Economics | Land Economy |
What do we do to help?
- Support with personal statements
- Careers information and courses offered are included in course booklets/SOW
- Tutorials
- Academic mentoring opportunities
Recommended reading - departmental reading lists / recommended books.Current affairs discussion & link / Bus & Econ review subscription / Tutor 2u revision webinars and resources
- Economics debate club
- Extra-curricular events – current events include the Investment Challenge and Bank of England talk. We also offer the Tenner challenge enterprise event in year 12 Business and Monetary Policy Commitee essay competition and Royal Economic Society essay competition in A Level Economics.
- At GCSE students also have the Survey of Sale, franchise talk and opportunity to join the mini Young Enterprise / Dragons Den team