Business & Economics
The Economics and Business department at Carres Grammar school was founded in September 1994. It started off with 24 students undertaking Business and Economics at KS5. Over the course of the past thirteen years the department has expanded enormously. The subject is optional at both KS4 and KS5. All teaching takes place at Carres Grammar school although the joint sixth form is in place.
The department enjoys high academic success at both A level and at GCSE, both in grades and added value.
- Mr G Ahmed (Head of Business & Economics)
All lessons are taught in a fully equipped business room which has a state of the art smart board to enhance lesson quality. The department has an excellent set of texts which mirror the courses offered and utilises the ICT rooms which are bookable on a regular basis.
The Business & Economics department aims to provide our pupils with the skills and knowledge required in an ever changing post-industrial society. We aim to ensure that our pupils can go out into the world of work with the attributes necessary to be successful. Our pupils will be entrepreneurial, independent learners, confident presenters and strong team players.
The aims of the department are:
- To develop an understanding of relevant economic and business concepts and theories and an ability to apply them to a range of real world issues.
- To apply economic and business concepts and theories in a range of contemporary contexts and appreciate their value and limitations in explaining real world phenomena.
- To analyse, explain and evaluate the strengths and weaknesses of the local economy and make informed decisions as to what is required to further enhance economical development.
Why study Business Studies?
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 they operate in today's society. You will investigate businesses in your local area. 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.
At Carre's Grammar School GCSE Business Studies is a modular course, which has been designed to provide an investigative approach to Business Studies, encouraging candidates to study their local business environment. It provides a sound basis for candidates to progress either directly to employment or to proceed to further qualifications.
Candidates must take four units of assessment, three externally examined units (available at Foundation and Higher Tier) and a coursework unit. The specification covers a balanced range of topics. 'Business Organisation' is assessed through Unit 1 (external examination) and Unit 2 (coursework assignment). 'Business in its Environment' is assessed through Unit 3 (external examination). 'Business Processes' is assessed through Unit 4, an external examination based on a pre-released case study scenario. It draws together knowledge from the whole specification to look at the processes behind making business decisions.
You will study:
- Business Organisation
- The Business in its Environment
- Business Processes.
You will learn:
- How to analyse business problems and issues
- How to evaluate evidence and communicate your arguments clearly
- How to make business decisions
- How to use business vocabulary
- To work on your own and as part of a team
- About ICT, how to use it and how changes in ICT affect the way in which businesses operate
- Looking at case studies of real businesses
- Visiting businesses in your local area.
Students complete four modules. Three of them will be tested through examination papers and one will be tested through coursework. Each module is worth 25% of overall result. There are two levels of entry for the examination papers: Foundation and Higher.
Module 1 – Business Organisation
(1 hour 15 minutes - Written Exam)
Students answer four questions based on a business scenario. Some questions will need short answers and some will need longer pieces of writing.
Module 2 – Coursework
Students carry out an investigation into a business situation. It will involve about 10/20 hours of work.
Module 3 – The Business in its Environment
(1 hour 15 minutes - Written Exam)
Students answer two questions based on a business scenario. Some questions will need short answers and some will need longer pieces of writing.
Module 4 – Business Processes
(1 hour 15 minutes - Written Exam)
Students will be given a pre-released Case Study based on a business scenario which they will have time to study (in class) before the examination. The examination paper will be based on the Case Study. In the examination students will answer three questions, some of which will need short answers and some of which will need longer pieces of writing.
What do you need to know, or be able to do, before taking this course?
You may not have studied any business or economics related subjects before, but that does not matter! What is much more important is that you show a commitment to succeed in setting up and running a business and how a business may be affected by the global economy. You will be expected to have at least a grade ‘C’ in GCSE Maths and English.
What Will You Learn?
AS Level (2 Modules)
1. Developing New Business Ideas (50% of the total AS marks)
- Business Opportunities
- Entrepreneurial skills
- Business ideas in practice
- Economic context for business
2. Business Economics (50% of the total AS marks)
- How businesses are affected by market forces and market structures
- Macroeconomics and affects on business
A2 Level (2 Modules)
3. International Business (50% of the total A2 marks)
- International Markets
- International trade
4. The Wider Economic Environment and Business (50% of the total A2 marks)
- Market Failure
- Regulation of markets
- Govt role in economic and social welfare
Method of Assessment
2 written papers, each lasting 1 hour 15 minutes.
2 written papers. Module 3 is a case study based examination. Module 4 requires student to write a decision making report based on a pre-released case study.
What can you do after you have completed the course?
The course provides a solid foundation for studies at a higher level in the following subject areas:
- Business Management/Administration
- Accountancy & Finance
- Human Resources Management
- Retail Management
- Tourism Management
- International Business
It can also lead on to a career in the commercial world, e.g. in banking, sales, product management or general management. Business and management skills are also desirable in public sector organisations or charities.
Beyond The Curriculum
The department runs focus days during the academic year. The Year 9 Curriculum Day combines a range of activities from on-line business simulations to psychometric career based tests and financial quizzes. These activities are designed to give the students a taste of business issues and to meet the criteria of the Economic Awareness element of the National Curriculum. The KS4 £10 challenge allows students to use their creative energies to tender for a business contract, in a Dragon’s Den style activity, designed to enhance planning, team work, and presentation skills. Students also attend competitions at other venues throughout the year and the department offers grade booster sessions in the spring and summer terms.
The department offers Level 2 Certificate in Personal Finance (CPF2) in the sixth form. The course is designed for people who are reaching a life stage when they no longer depend on others for their financial provision consequently; preparing them for university life.
Students gain knowledge about the practical and legal constraints on the sources and uses of money, the methods of organising their money through personal budgeting, the considered use of appropriate bank and building society accounts and the concepts and consequences of overspending or payment default. A very valuable life skill!