Business and Economics Department

The Business and Economics department consists of four members of staff teaching BTEC Business, GCSE Business Studies, AS and A level Business Studies, AS/A level Economics as well as Level 2 and 3 Finance.
 
Economics tends to be more abstract and theoretical in its approach. In Business Studies, a more applied approach draws upon accounting techniques and applied sociology and psychology.  Finance involves looking at the financial services industry and gaining the knowledge to make sound financial judgements and decisions.

The courses that are offered in the Business and Economics department are extremely popular in the Sixth Form and are perfect as a foundation for University. 

GCSE Business

Have you ever wondered: why the news makes such a big deal about a rise in interest rates; why Government is so important in business; about the impact that pressure groups such as Greenpeace or The Animal Liberation Front have upon business activity; why Microsoft can charge so much for their products; why you end up buying much more than you had planned when visiting a supermarket or even how to set up and run your own business? Well Business Studies will help provide you with the answers to these issues and many, many more.

Business Studies is not just a theory-based subject, it is about real life. It will help you to learn about businesses and the way that they operate in today's society. You will gain skills which will be useful in a wide range of jobs, in the further study of Business Studies and in your personal life. The world is continually changing and evolving and business is at the forefront of this. Learn about the impact of Europe upon our lives and how marketing is about much more than the adverts that you see on the television. Discover what motivates people to work and see real life business in action through a series of industrial visits and case studies.  All of this, plus excellent exam grades !!

You will study:

• External Environment of the Business; 
• Business Structure, Organisation and Control;
• Business Behaviour;
• People in Organisations;
• Aiding and Controlling Business Activity;
• Business Communication & Marketing
• BTEC Business First (Level 2)

BTEC Business National (Level 2)

Business encompasses a broad range of fields, including retail, human resources, finance, law, sales, marketing and administration. These can be contextualised and applied to a wide variety of endeavour in industry and commerce. Specialist areas of study can include business enterprise and online business.
Edexcel’s BTEC Level 2 First Certificates and Diplomas in Business are designed to provide a broad introduction to working in the sector and offer opportunities for accessing further study, such as a BTEC National qualification or an appropriate NVQ.

BTEC Business National (Level 3)

Business Studies looks at all the important activities which satisfy our needs. We want to spend our time doing interesting and exciting things in a safe and secure environment. We want to be challenged and we want to make our own lives and the lives of others better. The organisations which carry out these activities are businesses. They all have the same goal - to provide goods and services which people want to buy.  This will involve studying all areas of business including accounting and finance, marketing operations management, people in business and the external influences which can affect businesses.

BTEC National (Award) involves the completion of 6 units of coursework to a high level and the BTEC National (Certificate) involves the completion of 12 units of coursework.  There are no exams in this subject but students need to be keen to keep up to date with all coursework at all times.
Each module will be marked with a Pass, Merit or Distinction and will be awarded corresponding points.  The total of these points will then be translated into A Level equivalent grades.

You will be covering a broad range of business areas including marketing, finance, human resources, legal aspects of business, operations and communications. 
This course will offer you an insight into how businesses are started, owned, controlled and run and how they work in real work situations.

AS/A2 Business Studies

Entry to this course requires no previous study of Business Studies at GCSE. However, an interest in current business affairs needs to be demonstrated, as topical case studies provide the basis for class debates. However, a minimum grade 'C' in both Mathematics and English is required for entry onto the course.

The course is modular in structure with three modules being studied at AS-level and a further three studied at A Level.

The course offers you the opportunity to learn about how companies attract and retain their customers; how the Internet is opening up global markets for advertisers; how businesses manage their finances to avoid going bankrupt; why companies spend millions of pounds on employee recruitment; why quality is so important in both goods and services; how governments and groups like Greenpeace affect business; and how to start up in business yourself.

In addition, there is a bi-annual visit to Barcelona to see a wide variety of businesses in operation and to enhance student understanding. There is a Biz Club which is aimed towards students of all ages this provides students with 'real-world' life skills in many aspects of business and encourages responsibility, teamwork, leadership and management skills as students learn how to handle both real people and real money!

The study of this subject area provides an invaluable background for many career opportunities and is accepted by all institutions of higher education. It also combines well with most other AS and A-level options, complementing key skills in communication, information technology and numeracy.

You will study:

• Marketing;
• Objectives and Strategy; 
• Accounting and Finance; 
• People;
• Operations Management;
• External Influences

AS/A2 Economics

In essence, Economics is a theoretical study of the ways open to a society to organise its production and distribution of goods and services – what to produce, how to produce it, in what quantities and at what price. Is this task best achieved by market forces or by some form of government intervention? Should basic industries be privately owned or run by the state? How are Eastern European countries finding the transition to a market economy? These are some of the questions asked in the AS level paper and some of the areas at which we will look.

If you decide to continue through to A2 then you will study problems like inflation, unemployment and productivity, industrial relations, whether large firms are better than small ones, poverty, trade deficits and exchange rates. The issues are considered in terms of competing economic philosophies such as Monetarism and Keynesianism, and it is soon realised that there are no easy answers.

Data response and discussion are essential parts of the course and students will be expected to keep up with developments in the economy by regularly reading newspapers. Although data response is an important part of the examination no mathematical knowledge is required. Some modules contain multiple choice questions, testing knowledge, understanding and essay questions.

You will study:

• Markets in Action
• National and International Economy
• Transport Economics
• The Global Economy 

IFS Finance (Level 2 and 3)

• Unit 1 – Personal Finance Encounters (PFE)
• Unit 2 – Money Management Solutions (MMS)

 
Once you have completed the Level 2 course you can then progress onto Level 3 Certificate in Financial Studies (AS Level equivalent). This course will give you the basic foundations you will need if you decide to move into the banking or finance sector.

Level 3

The course is available at Level 3. The Certificate in Financial Studies (CeFS) has been designed to encourage individuals to be inspired to meet their lifestyle aspirations.  This will be achieved by teaching them to apply the appropriate solution from the wide range available within the evolving financial services marketplace.

• Unit 1 — Why money (25%) - Students are expected to gain an appreciation of their individual needs, wants and aspiration as they progress through different stages in their lives and to give them a general introduction to the financial services industry.
• Unit 2 — Risk and Reward (35%) - On completion of this unit students are expected to have the ability to manage money in different situations, identify and assess risks and make informed  financial choices.
• Unit 3 – Making Personal Financial Judgments (40%)- This unit develops students understanding of the interaction between the internal environment, financial products on offer and personal needs and wants.  This enables students to shop effectively and decide which specific products and services are suitable for an individual in a given situation.

BIZ CLUB – Takes place every Thursday lunchtime

The Biz Club is a club for all ages who would like to set up their own business.  There are a number of students who come regularly and are setting up their own businesses.

Useful Websites

A Level Business Studies - includes resources and useful topics.

A Level Business Studies - Marketing links, questions and answers section and many other useful resources.

Applegate Directory - Applegate has information on more than 75,000 companies cross-referenced to more than 22,000 products. It receives around Seventy Million Page Impressions each year and is the most comprehensive and most used directory for UK industry, manufacturing and technology companies.  

Belbin's homesite - the official Belbin website includes Belbin's team type descriptions and lots of information around team building. Useful for reference.  

EarlyWarning – Geopolitics - covers a range of geopolitical and business issues facing the world, exploring the interface between economics, politics and government on a global basis every working day, explaining what the news will be, why it will happen and what the consequences will be. The website usually requires a paid subscription but a month’s free trial is available.  

Economics and business topics - Although designed for students of A level Economics, Business Studies and Politics, this site provides excellent links to websites to help with research and has a thorough searchable glossary of terms.

Oxford School of Learning - Free resources. Conferences. Daily comprehension questions. Applied Business Studies questions. Candid book reviews.  

Resources Online - This website contains details of resources available to A-level Business Studies students.

The Economist - A good site, packed with business information. One useful feature is a large archive going back to 1997. This site is also easy to navigate around

The Financial Times - This resource boasts market and world economic news, in-depth articles, an archive, free annual reports and analysis of industries ranging from agriculture to transport.  

The Times100 - A useful site for business studies students and teachers. It gives information in various formats e.g. by company or by course.  

The Times100 with Business News - The Times 100 aims to cover all areas and levels within the business studies curriculum. Contains 46 real case studies from some of the largest companies, with questions and answers available as well as lesson plans a teachers guide and more.  

Tutor2u Economics - A wonderful resource for both tutors and students. Contains everything you ever wanted to know which is vaguely or specifically economics. Although the site is designed for AS/A Level students of Economics, it is useful for Business students at level 3 and above. Extremely extensive links.  

GCSE Bitesize Business Studies – An excellent resource for those students wanting to learn the basics of Business Studies.  This site contains terminology, practice questions and revision ides.