Economics

“In Economics it is better to read one thing ten times rather than to read ten things once because the subject is understood by reading thoroughly”. Prof. Paul Collier, University of Oxford.

 

Departmental aims:

 

1. To enable students understand that time and resources are scarce and should be used efficiently.

2. To enable students to organise, present and communicate ideas in a clear, logical and appropriate form.

3. To develop problem solving and analytical skills that will be applied in day to day life

4. To enable students to be rational decision makers and utility maximizers both in and out of class.

5. To enhance a culture of reading critically so as to gain information about the changing economy in which we live.

 

The subject covers five core topics at AS level that are extended at A2 level:

 

1. Basic economic ideas and resource allocation

2. The price system and the micro economy

3. Government microeconomic intervention

4. The macro economy

5. Government macro intervention

 

The specific areas that are covered in Economics include

 

  • The basic economic problem
  • Market forces of demand and supply
  • Money and the economy
  • Economic systems and the schools of thought
  • Government intervention in the economy
  • Market structures and Market failure
  • National income and welfare measurement
  • Aggregate demand and Aggregate supply
  • Inflation and unemployment
  • Exchange rates and Balance of payments
  • Fiscal, supply side and monetary policies
  • Economic growth and development

 

Economics at Peponi is offered as a beginners course at AS and then at A Level.

 

 

Teacher of Economics:

Mr. Peter Nduati

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