Foundation in Economics

The Economics Teachers

Wanted live or online
• Orlando Hill

• Terence Patio

• Muta Zankawah
 Part 1
Economics as a social science
Why study Economics?
“People all need, in order to live, food and drink, a protecting roof, clothing in
cold regions, as well as all kind of articles of daily use in the home. These
things may be simpler or more refined, be supplied sparingly or abundantly,
but they are indispensable for the existence of any human society and must
consequently be constantly produced by people - we are not in the land of
Cockaigne.”
(Rosa Luxemburg 1871 - 1919)
More reasons to study Economics
“The production of the means to support human life and, next to
production, the exchange of things produced, is the basis of all social
structure; that in every society that has appeared in history, the manner
in which wealth is distributed and society divided into classes or orders
is dependent upon what is produced, how it is produced, and how the
products are exchanged.”

(Friedrich Engels 1820 – 1895)

Definition

“Economics is the study of how groups of individuals

make decisions about the allocation of scarce resources”
 Part 2
How will I learn?
How will you learn?
• Lectures (recorded) – an outline of the topic; short segments; attendance &
concept check activities (CCA)

• Required Reading – relevant textbook chapters, on your own

• Seminars (live) – discussion & debate

• Study Café – Details on Bright Space

• Further reading - keeping up with current events and discussions

• Completing Homework/Tasks set/Assignments/Coursework

 Expectations –
Teachers & Students
Before Seminars During Seminars After Seminars
Watch/listen to the Participate in discussions Ask questions; seek
relevant lecture actively support at Study Cafes
Read the required reading Ask questions (eg. chat Do further reading
actively – textbooks/other box) actively; review
required material lectures/seminar –
between 6-10 hours per
week self-study 
Complete seminar Formative feedback from Respond to further tasks
task(s)/ worksheets teachers
Assessment objectives
Objective Description

Knowledge Can you define and show understanding of economic terms?

What is the law of supply and demand?
Application Can you use economic terms and concepts in real case scenarios?
Can you apply the law of supply and demand to the housing market?
Analysis Can you explain economic terms and concepts?
Explain why an increase in demand for houses might lead to an increase in
price.
Evaluation Can you explain the limits of an economic law or concept?
Why do house prices remain constant even though there is an increase in
demand?
How you will be assessed

• There are three pieces of coursework (80%)

• Essay 1 (Microeconomics, Term 1) - 20%

• Coursework  – Economics Presentation (Term 2) - 40%

• Essay 2 – (Macroeconomics, Term 3) - 20%

More assessments

• There is also Continuous Assessment Activities (mainly

quizzes – weekly) (20%)
• Term 1 - 10%
• Term 2 - 10%
Resources
• Anderton, A. (2015), Edexcel AS/A level Economics. ActiveBook. London: Pearson 

• Financial Times (www.ft.com) 

• Other reputable broadsheets (details on the Economics VLE page) 

• Reputable databases (details on the Economics VLE page) 

• Reputable websites (details on the Economics VLE page)

In the loop
You can contact us by We will contact you by
Email:
Email
orlando.hill@intoglobal.com
Mutawakil.zakawah@intoglobal.com Replying to posts on
Terence.patio@intoglobal.com forums
Appointments at Study Cafes
Posting a question on a
group/worksheet forum
Next week
Watch lecture 2 – Economics as a social
science
Read Anderton
Chapter 1 (Economics as a social science)
Chapter 2 (Economic data)
Read the FT article
Labour shortages hit advanced economies des
pite many people still out of work

Complete the worksheet term 1 week 2