KS5 Business & Economics

Transcription

1 KS5 Business & Economics Year 12 Business Autumn Spring What is business? (28 lessons) How are key decisions made within a business? (28 lessons) of their marketing department? of their operations/production department? Relationship between mission & objectives Different business forms External environment Role of managers Management and leadership styles Management decision making Role and importance of stakeholders Marketing objectives Market Research: primary and secondary Calculate market and sales growth, market share and size. Interpreting marketing data Interpretation of price and income elasticity of demand. Segmentation, targeting and positioning Marketing Mix 7 P s: Product; Price; Promotion; Place/Distribution; People; Process; Physical Environment Value of digital marketing and e-commerce Operation objectives Calculation and interpretation of operations data Lean production Managing inventory and supply chains

2 Summer of their finance department? of their human resources department? Financial objectives Analysing financial performance Cash flow and profit HR objectives Soft and hard HRM approaches Calculating and interpreting HR data Managing the human resources flow Motivation Improving employer-employee relations Year 12 Economics Autumn What is the nature and purpose of economic activity? (6 lessons) What are economic resources and how are they allocated? (8 lessons) How is price determined in a competitive market? (14 lessons) How is macroeconomic performance measured? Production of goods and services to satisfy needs and wants Key economic decisions Factors of production Scarcity Concept of opportunity cost Production Possibility Diagrams Demand Supply Equilibrium Market Prices Interrelationship between markets Objectives of government economic policy Circular flow of income Aggregate demand and aggregate supply 7 How does the macro economy work?

3 Spring Summer What are the costs and revenues associated with production? (6 lessons) What are the characteristics of competitive and concentrated markets? (10 lessons) What is the market mechanism? (10 lessons) What are the government s macro-economic objectives? Why is there an inequitable distribution of income and wealth? (5 lessons) How can governments intervene to correct market failure? (5 lessons) What is Government Failure? (4 lessons) Production and productivity Money as a medium of exchange Costs of production Economies and diseconomies of scale AR, TR and profit Objectives of firms Perfectly competitive markets Monopoly and monopoly power Calculating concentration ratios How markets and prices allocate resources Market Failure Public goods Private goods Positive and negative externalities in consumption and production Merit and demerit goods Economic growth and the economic cycle Employment and unemployment Inflation and deflation Balance of payments on current account Government intervention Public expenditure, taxation and regulations, indirect taxation, subsidies, price controls, state provision and regulation Government intervention leads to misallocation of resources. Monetary Policy Fiscal Policy Supply-side policies 6 8

4 Autumn What is macroeconomic policy? (14 lessons) Year 13 - Economics What is behavioural economics and how does it impact on government policy? What are the costs and revenue associated with production? What are the characteristics of different market structures? How does the labour market work? Bounded rationality and bounded self-control Choice architecture, framing, nudges, default choices, restricted choice, mandated choice. Diminishing returns Costs of production: Draw and interpret U shaped cost curves Revenue: Draw and interpret revenue curves Profit: Normal and supernormal profit Technological change Profit-maximising rule (MC=MR) Perfect competition Monopolistic competition Oligopoly Monopoly and monopoly power Contestable and non-contestable markets Consumer and producer surplus Marginal productivity theory Causes of changes to the supply of labour and shifts of the supply curve Determination of wage rates Influence of Trade Unions Discrimination in the labour market

5 Spring Summer Is income and wealth fairly distributed? How is competition in markets regulated and monitored? What are the possible conflicts between macroeconomic policy objectives? (8 lessons) What is the role of financial markets and monetary policy? (20 lessons) How does the international economy work? (30 lessons) (22 lessons) Difference between income and wealth Difference between equality and equity Lorenz Curve Gini coefficient UK specific data Government policies to alleviate poverty Competition policy Government intervention Government failure Negative & positive output gaps SR Phillips curve & LR L-shaped Phillips curve AD/AS model Financial markets Commercial and investment banks Central banks and monetary policy Monetary Policy transmission mechanism Quantitative easing, Funding for Lending Regulation of the financial system Globalisation Trade Consequences of membership of EU Role of World Trade Organisation (WTO) Balance of payments Difference between foreign Direct Investment (FDI) and portfolio investment Exchange rate systems Economic growth and development Exam board AQA - AS and A level Economics - AS and A Level Business