We make economic decisions every day, even though most people don’t realise it.
How do I decide between the cinema and watching my favourite team, going for a run or reading an article in the Economist, as these represent conflicting choices concerning my time and money? I am forced to decide which of my wants is most important. That’s the whole idea behind economic decisions; there are not enough resources available to the world to satisfy everyone’s wants. As economists, we attempt to understand the decisions that are made and analyse their impact on individuals, firms and society as a whole.
At RGS we attempt to provide a framework for students to make sense of the world around them, develop an understanding of current economic issues, problems and institutions that affect everyday life. In short, students learn to analyse, explain and evaluate the strengths and weaknesses of the market economy and the role of the government within it.
At A Level, students do not have to deal with complicated mathematics but they must be able to think logically and in the abstract. Students also require a clear mind and an ability to think logically. Strong GCSE grades are required in both Maths and English to undertake this course. The most successful students must also have an interest in current affairs. It should be noted, however, that most UK universities either require, or strongly prefer, Economics applicants to have studied A Level Maths.
We enjoy regular department activities, like our film night to watch The Big Short. We take advantage of our proximity to the financial hub of London in our annual trip to visit the Bank of England Museum and take a walking tour of the financial district with representatives from the LIBF.
Those with a passion for Economics and other social sciences are welcome at the Anthropos society, which meets weekly and where students present on topics of interest, debate and enjoy the chance to hear from their peers about the different perspectives across subjects. A range of visiting speakers add further opportunities for our economists, including former students studying Economics at university and working at the Bank of England, as well as entrepreneurs like the founders of Griddle and the CEO of Wagamama.
We encourage our students to develop their understanding of the subject by entering external essay competitions, for example the Royal Economics Society (RES) and Institute of Economic Affairs (IEA), attend public lectures at LSE and students have also visited Eton College to take advantage of their speaker programme. All students have free access to the digital Financial Times, copies of The Economist and other Economic periodicals relevant to the subject.
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