Economics and Business Studies

Head of Department: Dr Koestle-Cate

Economics and Business Studies

Head of Department: Dr Koestle-Cate

Economics and Business Studies

Head of Department: Dr Koestle-Cate

Economics and Business Studies

Head of Department: Dr Koestle-Cate

  • Our aims are:

    • to give students the best opportunity to achieve the highest grades at Business Studies and Economics
    • to develop their understanding of how the economic and business world works
    • to develop their ability to investigate and discuss current economic issues
    • to support them in becoming efficient independent learners

    Business Studies and Economics is a popular option at GCSE and Economics at A Level and students have consistently achieved outstanding grades at both subjects. Many students also take advantage of the wide range of enrichment activities the department offers to enhance both their learning and enjoyment of the subjects.

    Results for 2015

    A* A* - A A* to B
    A-level Economics 21% 59% 90%
    AS Economics N/A 45% 80%
    GCSE Business Studies 35% 70% 96%
  • Economics and Business Studies are not formally taught in years 7-9 but students will come across concepts, such as budgeting and enterprise, in their PSHEE and Citizenship lessons. Students are given a presentation on the GCSE Business Studies course in Year 9 to help with their options choices. Year 9 are also given the opportunity to take part in our Young Economist Society.

  • Students have the option to study Business Studies at GCSE. The year 10 course covers the starting up and running of small businesses and students will be given the opportunity to show their creative and enterprise skills throughout the first year.

    In Year 11, students gain a broader appreciation of how to build up a business and how large businesses operate. They will cover areas such as marketing, meeting customer needs, effective financial management and effective people management and consider the impact of the wider world on the success or failure of a business. Students complete a controlled assignment during Year 11 which requires them to research one small business in detail and answer a pre-set essay question on this business under examination conditions. Finally, they have two external examinations: Unit 1 (Introduction to Small Business) and Unit 3 (Building a Business)

    The course will be changing from 2017, updates to follow.

  • The school offers Economics (Edexcel) in Y12 and Y13.

    In Year 12

    Theme 1: Introduction to markets and market failure

    This theme focuses on microeconomic concepts. Students will develop an understanding of:

    • the nature of economics
    • how markets work
    • market failure
    • government intervention.

    Theme 2: The UK economy – performance and policies

    This theme focuses on macroeconomic concepts. Students will develop an understanding of:

    • measures of economic performance
    • aggregate demand
    • aggregate supply
    • national income
    • economic growth
    • macroeconomic objectives and policy.

    In Year 13

    Theme 1: Introduction to markets and market failure

    Theme 2: The UK economy – performance and policies

    Theme 3: Business behaviour and labour market

    This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students will develop an understanding of:

    • business growth
    • business objectives
    • revenues, costs and profits
    • market structures
    • labour market
    • government intervention.

    Theme 4: A global perspective

    This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global perspective. Students will develop an understanding of:

    • international economics
    • poverty and inequality
    • emerging and developing economies
    • the financial sector
    • the role of the state in the macro economy.

    All the four units are externally assessed with no coursework element.

  • Activities

    The Business Studies and Economics department offers a wide range of extra-curricular activities:

    • The LSESU Economics Society Essay Challenge 2017

    • Young Enterprise gives all Year 12 students the opportunity to come up with a business project which they have the opportunity to develop with the support of an entrepreneur
    • Target 2.0 gives Year 13 Economists the chance to compete against other schools by investigating and presenting their views on the UK economy in order to inform the Bank of England the best direction for interest rates.
    • Economics Society is run to provide activities such as economic games, book club, debating to encourage students to explore this exciting subject in a creative way.
    • Economic Enquiry provides an opportunity for students to research and deliver a presentation on a topic of their choice to their peer group.
    • Voice Magazine: a student-run economics and current affairs magazine publishing articles written and edited by students.
    • Programme of this year’s economic conference

    Recent Highlights

    The Economics Newsletter is now available:

    Target 2.0 regional heat

    On Wednesday 23rd November, Latymer’s Target 2.0 team attended the regional heat of the Bank of England Target 2.0 competition at PRA Auditorium.

    Our challenge was to take on the role of the Monetary Policy Committee. We had to assess the UK and global economic conditions to decide what the base interest rate and monetary policy should be set at to achieve the inflation target of 2.0%. The researchers and presenters worked together to construct a 15-minute presentation on different areas of the economy to come to a conclusion about the UK’s monetary policy. We were fortunate to watch some of the other school’s presentation before it was our turn.

    The team, Eric Schmidt, Nathalie Balabhadra, Niklas McKerrell and Tamzeyn Hashem gave an informative and well-structured presentation. They provided thoughtful and confident answers to some challenging questions from the panel of judges. Whilst, we did not get through to the next round of the competition, the experience was insightful and highly valuable for everyone involved.

    We are pleased to publicise this year’s Economics magazine ‘The Voice’. You can see the cover and content page underneath. For more information and if you would like to purchase this very high quality magazine please contact Dr Koestlé-Cate. See here for a brief view of the contents page.

Target 2.0 Research Team - November 2015

Students at the Target 2.0 Event in London - 2016