Business Studies & Economics

SPECIFIC AIMS OF THE DEPARTMENT

The Business Studies and Economics Department aims to:

develop pupils’ knowledge and understanding of business and economic concepts and theories through a critical consideration of current issues, problems and institutions that affect everyday life;
develop pupils’ familiarity with the methods of economic enquiry and the economist’s way of thinking, hence providing knowledge, understanding and skills which will be of value in adult life;
enable pupils to critically examine the aims, objectives and practices of business organisations from their economic, environmental and social perspectives; and
enable pupils to understand and interpret information in verbal, numerical and graphical format, and present their findings through written communication and with the use of ICT.

OVERVIEW OF KEY STAGE 4 CURRICULUM

At Key Stage 4, the Business Studies and Economics Department offers Business Studies at GCSE Level. Pupils follow the CCEA specification. Business Studies is delivered over six lessons per fortnight.

Unit 1: Business Start Up (40%)

The unit introduces students to the fundamentals of starting a business, resources needed, stakeholders, marketing, e-business, m-business and business operations. This unit is assessed in the form of a written examination. Pupils will have 1 hour and 30 minutes to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 11. Pupils’ work in this unit will be externally assessed.

Unit 2: Business Development (40%)

In this unit students examine human resources, including recruitment and selection, appraisal, training, motivation, business growth and finance.

This unit is assessed in the form of a written examination Pupils will have 1 hour and 30 minutes to complete the written examination for this unit. The written examination will be completed at the end of Year 12. Pupils’ work in this unit will be externally assessed.

Unit 3: Starting a Business (20%)

The Controlled Assessment task will be completed in Year 12. Pupils will have 6 weeks to undertake research for the Controlled Assessment task. Students carry out a research task and examine and evaluate a business plan, communicating their findings in a structured report writing task. Assessment will take place in class. The assessment is in the form of a report. Pupils’ work in this unit will be internally assessed and externally moderated.

OVERVIEW OF KEY STAGE 5 CURRICULUM

At Key Stage 5, the Economics and Business Studies Department offers Business Studiesand Economics at AS and A2 Level. Students follow the CCEA specification for Economics and Business Studies. At AS and A2 Level, these subjects are delivered over eleven lessons per fortnight.

At AS Level, students must successfully complete two modules for Business Studies and two modules for Economics. A further two modules must be successfully completed at A2 Level.

ECONOMICS

AS ECONOMICS

Unit 1: AS 1 Markets and Market Failure (50%)

In this unit, students explore the nature of the basic economic problem and the role of markets and prices in resolving this problem. The unit outlines how and why markets fail and why the government may intervene. It also highlights why government intervention may sometimes be counter-productive.

This unit is assessed in the form of a written examination. Students will have 1 hour and 30 minutes to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 13. Students’ work in this unit will be externally assessed.

Unit 2: AS 2 Managing the National Economy (50%)

This unit aims to introduce students to macro-economic issues in the domestic context of the United Kingdom economy. Students will analyse change in the economy using the basic aggregate demand-side and supply-side policies to achieve macroeconomic objectives. This unit is assessed in the form of a written examination. Students will have 1 hour and 30 minutes to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 13. Students’ work in this unit will be externally assessed.

A2 ECONOMICS

Unit 3: A2 1 Business Economics (50%)

The aim of this unit is for students to examine in depth the decision making processes of firms in the short term and long term. It explores various market models and their usefulness in explaining market behaviour. Students will examine the number and size of businesses, and the level of contestability Considering how firms grow by investigating organic growth, mergers and takeovers

This unit is assessed in the form of a written examination. Students will have 2 hours to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 13. Students’ work in this unit will be externally assessed.

Unit 4: A2 2 Managing the Economy in a Global World (50%)

The aim of this unit is to deepen and extend understanding of policy issues examined in AS 2. It includes trade barriers and participation in international organisations and agreements. Issues arising from UK membership of the EU are investigated and the problems that arise from increasing globalization are examined. Students will investigate the significance of globalisation, international trade, the balance of payments and exchange rates

BUSINESS STUDIES

AS BUSINESS STUDIES

Unit 1: introduction to Business (50%)

In this unit, students acquire a critical understanding of the central purpose of business activity and become familiar with the different forms of business organisations that exist. Students will acquire a critical understanding of the impact of various management and organisation structures for a business and its employees.

Unit 2: Growing the Business (50%)

In this unit, students will acquire a critical understanding of the marketing and operations management functions within business organisations.

They also study the role of accounting and financial information as an aid to decision-making and financial control.

A2 BUSINESS STUDIES

Unit 3: A2 1 Strategic Decision Making (50%)

The focus of this unit is on Business planning and strategy, with a focus on different bsuiness models. Students must also appreciate the role of accounting and financial information as an aid to decision making and financial control.

This unit is assessed in the form of a written examination. Students will have 2 hours to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 14. Students’ work in this unit will be externally assessed.

Unit 4: A2 2 The Competitive Business Environment (50%)

The aim of this unit is to ensure that students understand the macroeconomic and international framework within which businesses operate with a particular focus on globalisation. It acknowledges the unique culture of each organisation yet recognizes that they are all bound by the same social responsibilities and ethics. This unit examines how businesses deal with and manage change.

This unit is assessed in the form of a written examination. Students will have 2 hours to complete the assessment for this unit. Assessment of this unit will take place at the end of Year 14. Students’ work in this unit will be externally assessed.

ADDITIONAL SUBJECT INFORMATION

EXTRA- CURRICULAR PROVISION

The Business Studies and Economics Department contributes extensively to the school’s extra-curricular provision. Extra-curricular Activities include:

Mini-Enterprise activities for Year 10 and Year 13 pupils;
Participation in the Economics Olympiad with students having the opportunity to represent Ireland
International trip to New York City.
Industrial visits to organisations such as Tobermore Concrete and
Opportunities to enter various competitions, including local and national share competitions.

FACILITIES AND RESOURCES

The Business Studies and Economics Department has three rooms.

CAREERS INFORMATION

Our students have progressed into many different career pathways such as:

Finance
Actuary
Accounting
Pensions
Banking and Investment
Insurance
Teaching
Statisticians

St. Mary's Grammar School