Economics is about studying the world around us from a social, financial and cultural perspective. You will study how economies allocate their scarce resources to meet the needs and wants of their citizens, and learn
about the economic problems which face individuals, firms and governments on a local, national and global level and the alternative ways these problems can be resolved. Macro-Economics investigates the working of the whole economy; analysing possible causes of inflation, unemployment, and the effects of government intervention. You will also examine the complex interdependence between economies. Micro-Economics examines the way in which the price system of free enterprise economies allocates scarce resources. The syllabus also includes concepts such as behavioural economics, which considers how consumers make decisions based on emotions rather than rationality, and the analysis of financial markets.