Post 16 at WG6

Year 12  Theme 1



Learning Outcomes 

Term 1   

Nature of economics  

How Markets work 

Understand the difference between Positive and normative statements   

Understand, construct and interpret a PPFs  

Understand the benefits and drawback of Specialisation 

Be able to construct and analyse Demand and Supply diagrams and understand how price can be determined 

Be able to calculate and interpret price elasticity of demand 

Term 2 

How markets work  

Be able to calculate and understand Income elasticity, cross price elasticity and price elasticity of supply 

Understand the factors of the Price mechanism   

Using supply and demand diagrams be able to understand the concept of Consumer and producer surplus   

Be able to construct and understand Taxes and subsidies diagrams 

Markets in action- real world examples   

Term 3 

Market failure 

 Understand the concept of rational decision making 

Understand the impact of negative and positive Externalities on society   

Be able to highlight Information gaps and the impact this has on a market 

Evaluate the need for public goods  

Markets in action- real world examples   

Term 4 

Government intervention 

Understand how the government uses the following to correct market failure:  -Taxes and subsidies   

-Price controls   

-Regulation/provision of information   

-Other intervention methods   

Term 5 

Government failure 

 Understand ways in which the government may make society worse off when trying to correct market failure through government intervention 

Term 6 

Exam technique 


Introduction to Theme 3 

Students will begin to practice exam questions with greater frequency, paying specific attention to the demands of each question 

Students will begin to look at some of the more challenging topics in Theme 3, such as Costs, revenue and profits, market structures.  


Y12 Theme 2  



Learning Outcomes 

Term 1   

Measures of economics performance 


Circular Flow of income 


Measures of national income 


Business/Trade cycle 


Aggregate demand 


Aggregate supply 

Understand how the economy can be measured with macroeconomic indicators 

Understand how money flows around the economy. Be able to distinguish leakages and injections 

Be able to calculate and interpret the methods of measuring national income 


Understand the natural cycle of the economy 


Understand the main factors which influence each of the components and how changes in these factors would affect AD. 

Understand aggregate supply (AS) and distinguishes between the short run and long-run AS curves. Students need to understand the main factors which influence each of these. This topic also introduces students to the debate between the Keynesian and classical schools of economic thought as to the shape of the long-run AS curve 

Term 2  

Keynesian VS Classical Aggregate supply 


Output gaps 


The multiplier 





 Understand the differing viewpoint in relation to aggregate supply.  Be able to construct diagrams to represent this 

Understand the concept of an output gap and its implications.  Be able to a construct a diagram to show this 

Be able to calculate and interpret the multiplier figure.   Understand the implications of this 

Understand the causes, consequences and calculations of inflation and deflation 

Be able to distinguish the differing types of unemployment.  Be able to evaluate the impact on the economy. Be able to calculate the unemployment rate.  

Term 3  

Economic growth 


Demand side polices – Fiscal and monetary 



Laffer curve 


Gini coefficient/lorenz curve 

 Understand the causes and consequences of economic growth 


Understand the differing policies that are used to stimulate the economy my manipulation of aggregate demand.  Evaluate the effect of these policies on the wider economy.  Be able to explain this and represent in diagram form 

Be able to evaluate the relationship between government revenue and tax rate 

Understand show income and wealth inequality is measured 

Term 4   

Supply die polices 




Balance of payment 

 Understand the differing policies that can be used to influence Aggregate supply and the impact they can have on the economy.  Be able to represent this in a diagram 


Understand in the inflows and outflows of money in an economy.  Be able to analyse the impact on the economy 

Term 5 

Macroeconomic objective conflicts 



Great depression and financial crisis 

 Be able to recognise how differing macroeconomic objectives may conflict with others 


Understand why both events happened and the impact on the national/global economy.  Understands what policies were used off the back of the financial crisis in 2008 

Term 6 

Exam technique 



Introduction to theme 4 

Students will begin to practice exam questions with greater frequency, paying specific attention to the demands of each question 


Students will begin to look at the more challenging aspects of theme 4.  This will include, trade tariffs, quota’s and comparative advantage.  

Y13 Theme 3 



Learning Outcomes 

Term 1   

Revenues, costs and profits 

Understand the theories of the firm. Students are required to understand the relationships between total, average and marginal revenue. They should understand how PED relates to revenues. Similarly, students will need to calculate and understand the relationships between different 

costs. An appreciation of the short and long run is essential here. Economies and diseconomies of scale should be covered. When looking at profit, students should explore supernormal and normal profit, and understand the short- and long-run shut-down points. 


Term 2   

Market structures 

Students will consider efficiency and the following market structures: perfect competition, monopoly, monopolistic competition and oligopoly. Students will also explore monopsonists and contestability. It is useful to look at real world examples to support understanding of market structures. 


Term 3   

Business objectives 

Business growth 

To be able to understand the key goals of businesses. Profit 

maximisation can be connected with rational decision making and the assumption of profit maximising should be challenged. Students should consider that people running businesses are likely to have different goals and therefore may revenue and sales maximise. Understanding what satisficing is and why it is likely to occur is useful here. This topic requires diagrams and students should be able to produce diagrams and use formulae to illustrate different business objectives. 

Understand why some businesses remain small and why others might grow, and how they do this. When looking at how businesses grow students will consider the advantages and disadvantages of each method. Students will also explore reasons for, and the impact of, demergers. 


Term 4   

Government intervention 

Understand areas have been identified where there is a role for the government to bring about better outcomes; for example, in limiting mergers 

that would create firms with market power, limiting exploitation by monopolies and promoting competition, and protecting suppliers against monopsonists. In this topic students will explore the impact and limits of government intervention 

Term 5   

Labour market 

Understand the impact of the labour market. It is important to emphasise that when looking at the labour market, students are exploring specific markets: for example, the labour market for Maths teachers or unskilled agricultural workers. Students should explore labour demand and labour supply, appreciating factors influencing each of these. Students should also consider occupational and geographical immobility and how they affect the labour market, and policies that can be used to reduce immobility. Minimum and maximum wages should also be explored. 

Term 6   

Exam technique in preparation for external exams 

Students will begin to practice exam questions with greater frequency, paying specific attention to the demands of each question 



Y13 Theme 4 



Learning Outcomes 

Term 1     

International economics  

This section introduces economics in a global context by considering 

globalisation: its causes and consequences; the basis of free trade; 

protectionism; the balance of payments; exchange rates; and international 

competitiveness. Students should be aware of how all these factors influence the UK and international trade. 


Term 2   

Term 3   

Poverty and Inequality 


Emerging and developing economics  

Understand the different causes and consequences of poverty and inequality in both developed and developing countries should be considered in this section. It should be noted that, while absolute poverty is decreasing globally, some countries have experienced increases in inequality over the last 25 years. The possible reasons for these changes should be explored. 


Understand the ways in which development may be measured, 

and the nature and causes of constraints on growth and development. They 

should understand the nature of different measures to promote growth and 

development, and be able to evaluate them, remembering that the validity of 

different measures is dependent on the particular characteristics of the country undergoing development. For all parts of this section, case studies may be particularly useful. For example, it might be helpful to consider at least one Asian country, one African country and one South American country. 


Term 4 

The financial sector 

 Understand the role of the financial sector in the economy. Including the role of financial markets, market failure in the financial markets and the functions of central banks 

Term 5 

Role of the state in the macroeconomy 

Understand the concepts of fiscal policy, taxes as a leakage from the circular flow, and direct and indirect taxes were introduced. Students are now required to consider the macroeconomic effects of changes in taxation more fully; reasons for changes in the size and composition of public expenditure and the significance of its level for the economy; and the significance of the state of public finances 

Term 6 

Exam technique in preparation for external exams  

Students will begin to practice exam questions with greater frequency, paying specific attention to the demands of each question