Economics

OCR

What will I be studying? Microeconomic theory of how markets allocate resources and why markets sometimes fail to allocate resources efficiently. Also how the macroeconomy functions at a global and national level and the limitations of government policy including conflicts it presents. What does this subject involve? A detailed understanding of Economic theory enabling students to develop reasoned solutions to complex economic problems. A scientific approach is required in Economics in particular when handling data to identify key trends in economic variables. What skills or qualities will I need? Students are encouraged to acquire a range of important and transferable skills:

• Data and number skills • Presenting arguments and making judgments and justified recommendations on the basis of the available evidence • Challenging your own assumptions using evidence • Political awareness and an active interest in current affairs

What about future prospects and careers? Economics graduates are employed in a range of posts in law, communications, banking, insurance, education, manufacturing, transport, investment and retailing industries, as well as in government agencies and consulting. Do I need to have studied this for GCSE? No.

Additional information The department offers a wide range of extra-curricular opportunities including: • Annual Economics Lectures in

London • Royal Economic Society essay writing competition • IFS Student Investor Challenge