Business Studies & Economics

The subject of Business & Economics is a new subject for all students starting their GCSE’s. Business is a dynamic subject and it offer all students the opportunity to get a taste of what happens in the real business world and how every business opportunity has an impact on the local and national economy. Business is a broad subject and covers aspects of business such business finance, marketing, production, human resources and how every business is effected by external factors such as interest rates, inflation and unemployment on a local and national scale. Business Studies equips students with the skills and qualifications that are required to aid any student to begin their transition from compulsory education onto work in either the public or private sector. All students will understand the fundamental elements of business, how a business is formed and how a business can generate revenue and make profit on a yearly basis. GCSE business links well into A Level Business, Economics & Accounting.

Key Stage 4 – Business Studies & Economics

OCR / Cambridge Nationals / Level 2 in Business
(75% Controlled Assessment – 25% Exam)
• R061 – Introduction to Business – compulsory exam
• R062 – Planning for Work – compulsory controlled assignment
• R063 – Setting up & running a business enterprise. – compulsory controlled assignment

AQA – GCSE Business
(25% Controlled Assessment & 2 exams worth 75%)
• Unit 1 – Setting Up a Business – compulsory exam
• Unit 2 – Growing a Business – compulsory exam
• Unit 3 – Investigating Businesses – compulsory controlled assignment

AQA – GCSE Economics
(2 exams worth 50% each)
• Unit 11 Personal Economics
• Unit 12 Investigating Economic Issues

Key Stage 5 – Business, Accounting & Economics

AQA – A Level Accounting – Old Specification until September 2017
4 examined units worth 25% for each unit.
• Unit 1 – Introduction to Accounting
• Unit 2 – Financial & Management Accounting
• Unit 3 – Further Aspects of Financial Accounting
• Unit 4 – Further Aspects of Management Accounting

Edexcel – A Level Business – New Specification from September 2015
3 exams at the end of year 13 with four themes
• Theme 1 – Marketing & People
• Theme 2 – Managing Business Activities
• Theme 3 – Business Decisions & Strategy
• Theme 4 – Global Business

Edexcel – A Level Economics A – New Specification from September 2015
3 exams at the end year 13 with four themes.
• Theme 1 – Introduction to markets and market failures
• Theme 2 – Uk economy – performance & policies
• Theme 3 – Business behaviour and the labour market
• Theme 4 – A global perspective

How to support your child

Students from Year 9 to Year 13 will cover a variety of business economic and accounting topics and it is essential that your child completes their homework every night to the stated success criteria. Business, Economics & Accounting is an ever changing and dynamic subject and I would be advisable for your child to watch the business news, read the Metro newspaper or make reference to important business articles in the City AM newspapers. All of these resources are free and easily available.
Regular study is critical and essential to reinforce all learning objectives and also to fully understand how business will affect the economy and how they can prepare best for internal and external examinations.
I would advise all parents to discuss latest business updates such as recent business scandals or unethical practice, Poundland reporting a drop in profit or how a new terminal in Heathrow will benefit the economy and the lasting legacy it will have on a country. London is the hub of business activities with Canary Wharf, Liverpool Street and other business districts on our door steps and regular and this is where the jobs lie ahead. All students should and must show a keen interest in what lies ahead in an every changing and dynamic business world.