Head of Department – Mrs Laura Stotesbury
Mrs Judith Eatwell
Economics has often had bad press, indeed Thomas Carlyle dubbed it the ‘’Dismal Science” and with the aftermath of the noughties recession still being felt in various industries, one could be forgiven for thinking that lessons are full of doom and gloom.
As a social science, economics attempts to model human behaviour and presents theories in order to predict the response to a change in circumstance. From the first lesson in the L6th through to the U6th exam we develop a students’ economic toolkit - both qualitative and quantitative. This can be used to empower them to form their own hypotheses on how best to solve international problems such as Poverty, Pollution and Price Inflation.
Many of our students continue their study of economics on to degree level or take related subjects including business, management and international relations. However, even those who choose to leave their formal study of economics behind when they leave Prior comment on how useful it is to understand the news, their mortgage advisor and their payslip in later life.
We attempt to expose students to economics outside the syllabus with trips to ‘The City’, The Metal Exchange and the Bank of England as well as visiting speakers and streaming lectures from the Royal Economics Society. In 2015 this was on “Do Starbucks pay enough Tax?” by Professor Rachel Griffith.
Fundamentally, Economics is about analysing choices and, at its heart, it is about advising humans on how to use scarce resources efficiently to achieve their chosen goals. Surely there is nothing dismal about that?
Recent visits have included trips to the Millennium Stadium, Ford Factory, Bridgend S. Wales, Cardiff Bay Dock Development project, Herman Miller, Bath, London Economics Conference led by Kenneth Clarke. Trips to New York are offered on a fairly regular basis and include visits to the Federal Reserve, Stock Exchange, Wall St., United Nations and an industrial visit to a Coca Cola plant.