Hello and welcome to the Economics Department here at Reigate College.
My name is Stuart Hibbert and I’m the course leader for Economics A Level. Economics is a relevant and challenging subject and I’m really pleased you’ve chosen to study it. I’m looking forward to welcoming you to the department in person at the beginning of the academic year.
Many of you won’t have studied Economics as a separate subject before, so it’s really important you’re fully prepared before you embark on the A Level course. With that in mind, I’d like you to complete a series of tasks and activities over the coming months to introduce you to some of the topics you’ll be studying. You should also aim to read newspapers and journals (many are available for free on-line) to keep up to date with the latest economic developments, especially during these unprecedented times.
All the tasks should be completed by Choices Day on 25 August. Please enjoy working through them and we look forward to you sharing some of the things you’ve learnt, when you start the course in September.
The tasks will be released here in three phases:
Explore your Subject – 4 May
Economics can be broken down into two distinct branches – microeconomics
and macroeconomics. Microeconomics considers the economics of everyday life, i.e. the impact of the decisions taken
by us as individuals (households) and by businesses in different and often
Your first activity will involve microeconomics.
A BBC survey claims that teenage spending in the UK accounts
for £1.7 billion every year! On average those aged 13-19 spend £54 a week. However,
the Coronavirus has changed the pattern of spending of all households to some
Task 1: Copy out the chart below and fill in the gaps with your own personal spending. (If you don’t spend at all, simply estimate how you would spend the average of £54 a week in each scenario.)
Task 2: Now answer the following questions about the changes in your personal spending:
Give a summary of the changes in your spending before and
during Coronavirus. (Hint: try to comment on the changes in type, frequency and
amount of spending.)
How do you think any changes in your demand for products and
services will affect firms?
How might the changes in your spending, and all teenager
spending, affect the whole economy of the UK?
Task 3: Explore the area of teen spending more by going to the following websites:
You should complete this section of tasks by 1 June.
Get Going – 1 June
You should aim to complete this section of tasks by 1 July.
from the first series of tasks where we asked you to think about your own
personal changes in consumption due to the Coronavirus, now we’ll have a look
at how changes at the micro level may impact the whole economy or the
is therefore the study of the economy as
a whole and it also analyses the global (international) economic system.
To do really well
in Economics you need to keep up to date with current affairs, as there are
constant changes in the state of the economy.
Task 1: If you don’t already have it,
download the BBC News App onto your phone. Open the App and read the first
three articles in the Business
section that are associated in some way to the Coronavirus and its impact on
of the three articles with a maximum of five sentences per article. For each
one, identify whether the article concerns Micro or Macroeconomics.
Task 2: Try to build into your routine
a regular time to read the news, making sure to include news articles that
discuss the economy. If you come across a relevant article that you find particularly
interesting, please make a note of it.
Aim High – 1 July
From 1 July
Once you’ve taken part in the College’s first ever Virtual Introductory Day on 30 June, you will be asked to complete a more formal Aim High task (posted here) that it is mandatory for all new students to complete before Choices Day on 25 August.