The Economics & Business Department is a specialist Sixth Form department comprising of four experienced full-time members of staff.
The Department offers three subjects; A-level Economics, A-level Business and Applied General Business. In any given year more than 60% of Sixth Form students elect to take either Business or Economics or in some cases both. The department has an excellent record regarding UCAS entry with many of our students going on to study Business and Economics degrees at university, and also has a successful record in terms of Oxbridge applications.
The department consistently posts strong results: often it is the case that a student secures their best or equal best result in Economics or Business.
What is the difference between Economics & Business?
Economics is a social science that attempts to explain how the actions and decisions of firms, consumers, workers and governments affect the operation of the economy. It plays a huge role in our daily lives, has links to international affairs and politics and is a subject that is often debated and discussed. It requires a fair deal of analysis and includes topics such as supply and demand, growth, inflation, globalisation and exchange rates.
Business is more concerned with the actions and decisions taken by firms and focuses on topics such as marketing, human resources, accounting and finance, management, strategy and production methods. Business Studies students will also have to cover some Economics, as it affects how businesses operate in their external environments.
Although Business is not free from theory, it is less theoretical than Economics. Out of the two subjects Economics is considered to be the more academic by employers and universities. Business, however is by no means an easy subject; instead it involves more learning and therefore has more work to cover, and a great deal of new terminology to grapple with. Therefore, you might say that the Economics course has more depth, with Business having more breadth.