Economics has traditionally been defined as the study of how society allocates scarce resources. This is done through analysing the behaviour of individuals, firms, the government, and other institutions. Students are encouraged to adopt a critical viewpoint on a wide range of relevant issues such as:
- Do we make rational choices?
- Why does the government intervene in some markets but not in others?
- How does the financial sector operate?
- What are the effects of Brexit?
- Do heavily indebted poor countries need international trade or aid?
In terms of skills, Economics facilitates the acquisition of logic and critical thinking which provides the foundation for the intellectual challenges students considering a university education will encounter. It is an ideal link subject between Arts and Science based A Levels. Economics allows students to continue to develop their numerical capabilities whilst at the same time improving and finessing their essay writing skills. Both qualities often sought by universities and employers alike.
In a rapidly changing world, economic and financial literacy is increasingly important in most career paths. Students are encouraged to apply theoretical frameworks to complex real world examples and so generate useful conclusions. This prepares students to tackle many of the grey areas that occur in life with confidence and analytical rigour. Our economists go into a wide variety of careers because the subject also provides a commercial and regulatory understanding of how most sectors of the economy work.
We teach in a seminar-style using current news and data with an open discussion as the foundation of a lesson. Simulations and games are integrated into lessons to help illustrate concepts. We believe it is particularly important for students to experience some of the institutions they study, through:
- Visiting speakers from universities and business
- Lectures in central London
- Support for entrants to essay competitions (Royal Economic Society and Corpus Christi Cambridge)
- Investment competitions
- Information on places available on taster days at financial institutions and Summer placements in think tanks
- A variety of overseas study visits, most recently to an international Economics and Comedy Festival in Kilkenny, Ireland