Economics and Business
The Economics & Business Department at Ralph Thoresby is possibly the highest achieving department in the school. This is based on pupils across the range of subjects taught consistently achieving above national average grades. Our teaching offer currently consists of: AQA GCSE Business Studies, Btec L2 Business Enterprise, Edexcel A Level Economics B and Btec L3 Business. Our course provision is designed to offer a range of subjects that can best meet the needs of pupils in both an academic and vocational setting to ensure both enjoyment and learning outcomes are achieved. Each December we alternate between a 6th form New York and a European study experience trip.
Staff: Mr Jones (head of department) [email protected]; Mrs Bradley [email protected]; Mr Hancock [email protected]; Mr Turner [email protected]
Links to SMSC and British Values
S – Pupils are encouraged in Business & Economics lessons to explore racism, sexism and other forms of discrimination that can be discussed in relation to current employment law legislation.
M – A business decision may not be illegal but does that mean it is morally to correct to go ahead with it? Should an MNC employ child labour in another country if there is no law to prevent it?
S – There will be many opportunities for pupils to work in teams and show leadership skills through enterprise tasks.
C – Cultural development within Business Studies involves students being given the chance to see how the functions of a business operate. Students look at the changes within society and how they may impact on businesses. We will also look at the EU and its impacts upon business operations and trade whilst also exploring the wealth of different countries and how developed they are.
Examples of British Values in Business Studies include:
- In KS4 & 5 Business lessons, we would regularly learn about different laws in Britain and how they can compare to other countries.
- Students know that they have a voice that is listened to in Business Studies as when we they take part in group activities like Enterprise or competitions and challenges, we actively promote democratic processes used to vote people in certain positions or roles.
- We use opportunities such as general or local elections to promote fundamental British values and provide pupils with the opportunity to learn how to argue and defend points of view. We would discuss politics, the voting system and how who is in power may affect businesses.
- In sixth form students have the opportunity to take part in an Enterprise group as an extra-curricular activity, where as a group they run an enterprise over a period of time.
Courses available to take at KS4 and KS5
- KS4: L2 BTEC Enterprise, GCSE Business Studies
- KS5: L3 BTEC Business, A Level Economics
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Year 9 Overview
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01
Course Topic(s)
BTEC – Introduction to component one – Exploring enterprises. GCSE: Introduction to Business and Enterprise
Content / Learning Outcomes
Characteristics of enterprises
Types and characteristics of SMEs
The purpose of enterprise
Entrepreneurs
Market research
Measuring successMarketing, Characteristics of Entrepreneurs, Finance, People in Business
Assessment
PINS assessments
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02
Course Topic(s)
BTEC Introduction to component two – planning for and pitching an enterprise activity. GCSE: Business in the Real World
Content / Learning Outcomes
Generating ideas for an enterprise
Planning for an enterprise
Pitching a micro enterprise idea
Reviewing own pitchChanging business environment, Factors of Production, Entrepreneurs and enterprise, Legal structures, Setting business objectives, Stakeholders, Factors of Location, Business planning, Expanding, Economies of scale.
Assessment
PINS assessments. Pitch of an idea – self and peer assessment
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03
Course Topic(s)
BTEC Introduction to component three – promotion and finance for enterprise. GCSE: Influences on Businesses
Content / Learning Outcomes
Promotional mix
Market segmentation
Financial records
Financial planning and forecasting
Sources of business financeDigital communication; E-commerce; Technology; Ethics, environment and sustainability; Economic environment; Globalisation; Markets and competition
Assessment
PINS assessments
Useful Links
How can I support my child?
Revision materials/support for any exams:
Revision guides can be purchased at a discount from the retailer price through purchasing through the school. Please contact Mr Jones at [email protected] for more information.
Equipment required: A calculator and a resourced pencil case. Home access to a PC/laptop is very desirable.
Regular activities to undertake: Private revision is essential if full potential is to be reached. All Btec deadlines MUST be met as the examination board has the discretion to fail pupils.
Homework Information
Homework set will aim to deepen understanding, improve research skills and find real world examples/scenarios that can help bring class learning to life.
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01
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Year 10 Overview
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01
Course Topic(s)
BTEC Component 2- planning for and pitching a business. Component 3- promotion and finance in business. GCSE: Human Resources
Content / Learning Outcomes
Generating ideas for an enterprise
Planning for an enterprise
Pitching a micro enterprise idea
Reviewing own pitchPromotional mix
Market segmentationOrganisational structures, Decentralisation, Recruitment and selection processes, Contracts of employment, Motivating employees, Training,
Assessment
Btec specific as per exam board guidelines. Course work will go towards final BTEC grade. PINS assessments
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02
Course Topic(s)
BTEC Component 3- promotion and finance in business. GCSE: Business Operations
Content / Learning Outcomes
Financial records
Financial planning and forecastingMethods of production, Efficiency in production, Lean production, Just-in-time (JIT) production, Factors affecting choice of suppliers, Procurement and logistics, Supply chain management, Quality issues, Total quality management, Customer service.
Assessment
PINS assessments
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03
Course Topic(s)
BTEC Component 3- promotion and finance in business. GCSE: Marketing
Content / Learning Outcomes
Sources of business finance
RevisionIdentifying and satisfying customer needs, Segmentation, Market research, Pricing methods, Product development and differentiation, Product lifecycle, Promotional methods, Place and channels of distribution, E-commerce and m-commerce, Using the marketing mix to influence and implement business decisions.
Assessment
Exam in Summer 2019. PINS assessments
How can I support my child?
Revision materials/support for any exams:
Revision guides can be purchased at a discount from the retailer price through purchasing through the school. Please contact Mr Jones at [email protected] for more information.
Equipment required: A calculator and a resourced pencil case. Home access to a PC/laptop is very desirable.
Regular activities to undertake: Private revision is essential if full potential is to be reached. All Btec deadlines MUST be met as the examination board has the discretion to fail pupils.
Homework Information
Homework set will aim to deepen understanding, improve research skills and find real world examples/scenarios that can help bring class learning to life.
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01
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Year 11 Overview
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01
Course Topic(s)
BTEC Component 1 Learning aim A. BTEC Component 3. GCSE: Finance
Content / Learning Outcomes
What is an enterprise
Types and characteristics of SME
Purpose of enterprise
EntrepreneursRevision of promotion and finance unit for those resitting
Methods to raise finance, Sources of finance, Cash flow, Financial terms and calculations, Average rate of return, Break-even analysis, Financial statements, Analysing financial performance.
Assessment
BTEC specific as per exam board guidelines. Course work will go towards final BTEC grade. PINS assessments
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02
Course Topic(s)
BTEC Component 1 Learning aim B. GCSE: Preparation for GCSE examinations
Content / Learning Outcomes
Market research to understand customer needs
Using market research
Understanding competitorsRevisions sessions focusing on specific areas of the course, utilising exam-practice questions to assess progress
Assessment
Resit of component 3 for any students not meeting target grade in Jan 2020. BTEC specific as per exam board guidelines. Course work will go towards final BTEC grade Exam-practice questions.
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03
Course Topic(s)
BTEC Component 1 Learning aim C. GCSE: Preparation for GCSE examinations/GCSE examinations.
Content / Learning Outcomes
Investigating the factors that contribute to the success of an enterprise:
Internal factors
External factors
SWOT/PESTLE
Measuring successRevisions sessions focusing on specific areas of the course, utilising exam-practice questions to assess progress.
Assessment
BTEC specific as per exam board guidelines. Course work will go towards final BTEC grade. Exam-practice questions/GCSE examinations
How can I support my child?
Revision materials/support for any exams:
Revision guides can be purchased at a discount from the retailer price through purchasing through the school. Please contact Mr Jones at [email protected] for more information.
Equipment required: A calculator and a resourced pencil case. Home access to a PC/laptop is very desirable.
Regular activities to undertake: Private revision is essential if full potential is to be reached. All Btec deadlines MUST be met as the examination board has the discretion to fail pupils.
Homework Information
Homework set will aim to deepen understanding, improve research skills and find real world examples/scenarios that can help bring class learning to life.
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01
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Year 12 Overview
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01
Course Topic(s)
Economics – Theme 1. BTEC Business – Unit 1, 2, 5
Content / Learning Outcomes
Economics –
Scarcity, choice and potential
conflicts
Enterprise, business and the
economy
Introducing the market
The role of credit in the economy
Market failure and government
intervention
Revenue, costs, profits and cashBTEC–
Unit 1 – Features of businesses, Stakeholders, Effective communications, Structure of organisation, aims & objectives.
Unit 2 – Principals of marketing, marketing aims & objectives, types of markets, market segments, brands, Internal & external influences, using market information, market research methods, interpreting market research.
Unit 5 – Why trade internationally, where to trade, Factors affecting choice of market, financing international business, support for international trade, globalisation, trading blocs, barriers to international business.Assessment
PINS – Tests 1 & 2. BTEC specific as per exam board guidelines.
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02
Course Topic(s)
Economics – Theme 2. BTEC Business – Unit 1, 2, 5
Content / Learning Outcomes
Economics –
Business growth and competitive
Advantage
Firms, consumers and elasticities of
demand
Productive efficiency
Life in a global economy
The economic cycle
Introduction to macroeconomic policyBtec –
Unit 1 – External environment, internal environment,
Competitive environment, situational analysis, market structures, supply & demand, pricing & output decisions.
Unit 2 – Marketing campaign activity planning, marketing mix, conducting marketing campaign, evaluation of campaign.
Unit 5 – External influences, international business support systems, cultural factors & impacts.Assessment
PINS – tests 3 & 4. BTECspecific as per exam board guidelines.
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03
Course Topic(s)
Economics – Themes 1&2 . BTEC Business – Unit 1, 2, 5, 27
Content / Learning Outcomes
Economics –
Completion of theme 2 and revision for both themes before internal examinationBtec –
Unit 1 – Role of innovation & enterprise, benefits & risks of innovation & enterprise
Unit 2 – Final revision and mock before examination taken.
Unit 5 – Strategies for operating internationally, resource considerations for operating internationally.
Unit 27 – Work experience.Assessment
INS – tests 5 & 6. BTEC specific as per exam board guidelines.
Useful Links
How can I support my child?
Revision materials/support for any exams: Revision guides can be purchased at a discount from the retailer price through purchasing through the school. Please contact Mr Jones at [email protected] for more information.
Equipment required: A calculator and a resourced pencil case. Home access to a PC/laptop is very desirable.
Regular activities to undertake: Private revision is essential if full potential is to be reached. All Btec deadlines MUST be met as the examination board has the discretion to fail pupils.
Self-study Information
All pupils will be issues with a specific course guide. This should be used to plan revision and monitor topic coverage. This should also be used to help prepare a revision timetable that ensures all topics are covered. Examination mark scheme guidance, tips and higher level evaluation exemplars should also be regularly used to improve examination technique.
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01
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Year 13 Overview
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01
Course Topic(s)
Economics – Theme 3. BTEC Business – Units 4, 5 & 6
Content / Learning Outcomes
Economics –
Globalisation
Economic factors in business expansion
Impact of globalisation on global companies
Impact of globalisation on local and national economies Global labour markets
Inequality and redistributionBtec –
Unit 4 – Tasks to complete by an event organiser, Skills of an event organiser, Investigate feasibility of an event,
Unit 5 – Why trade internationally, where to trade, Factors affecting choice of market, financing international business, support for international trade, globalisation, trading blocs, barriers to international business.
Unit 6 – Management & leadership, functions of management & leadership, business culture, leadership styles, leadership skills, human resources.Assessment
PINS tests – 1&2. BTEC specific as per exam board guidelines.
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02
Course Topic(s)
Economics – Theme 4. BTEC Business – Units 4, 5 & 6
Content / Learning Outcomes
Economics –
Competition and market power
Market power and market failure
Market failure across the economy
Macroeconomic policies and impact on firms and individuals Risk and the financial sectorBtec –
Unit 4 – Develop a detailed business plan for event,
Unit 5 – External influences, international business support systems, cultural factors & impacts.
Unit 6 – HR planning, motivation in the workplace, skills requirements, appraisal, organisational changeAssessment
PINS tests – 3&4 Btec specific as per exam board guidelines
How can I support my child?
Revision materials/support for any exams: Revision guides can be purchased at a discount from the retailer price through purchasing through the school. Please contact Mr Jones at [email protected] for more information.
Equipment required: A calculator and a resourced pencil case. Home access to a PC/laptop is very desirable.
Regular activities to undertake: Private revision is essential if full potential is to be reached. All Btec deadlines MUST be met as the examination board has the discretion to fail pupils.
Self-study Information
All pupils will be issues with a specific course guide. This should be used to plan revision and monitor topic coverage. This should also be used to help prepare a revision timetable that ensures all topics are covered. Examination mark scheme guidance, tips and higher level evaluation exemplars should also be regularly used to improve examination technique.
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01