Business & Economics

 

Curriculum intent

At Hayes School, our commitment is to provide moments of joy, support pupils to thrive beyond our gates, and nurture community and character through a curriculum that is conceptual, inclusive and responsive. Our values — kindness, endeavour, inclusivity and responsibility — shape every aspect of this curriculum. They ensure that every pupil, particularly the most disadvantaged and vulnerable, is known, supported and challenged to achieve highly and to flourish in school and beyond.

Purpose

We aim to create the very best Economics and Business studies students. The aim of the Economics curriculum is to develop students’ understanding of how the national and global economy works through analysing key economic issues, problems and institutions that affect everyday life. The aim of the Business studies curriculum is to equip students with the appropriate knowledge and skills needed to develop their employability and identify business problems and opportunities.

We achieve this by teaching which ensures students understand underlying Economic and Business theory which students are able to apply to a variety of familiar and unfamiliar case studies. We want students to be able to think analytically, reach logical conclusions based on data, and make judgements on future changes to markets and the economy.

Students are constantly challenged to work collaboratively and think independently when engaging in all lessons and class debates. We encourage our students to demonstrate manners, respect and tolerance in Economics and Business studies lessons. This allows students to express themselves in a confident manner. Lesson materials are engaging to promote topical discussion and encourage students to develop an enquiring mind.

Specification Information

GCSE Edexcel Business Studies

A Level Edexcel Business Studies

A Level Edexcel Economics

CamTech OCR Business

 

Key concepts in the Business curriculum
  1. Enterprise and entrepreneurship
  2. Understanding External influences
  3. Making marketing decisions
  4. Making financial decisions
  5. Making human resource decisions
  6. Making operational decisions
  7. Making situational strategic decisions in context (items 1-6)

 

Key concepts in Cambridge Technical Business
  1. Enterprise and entrepreneurship
  2. Understanding External influences
  3. Making marketing decisions
  4. Making financial decisions
  5. Making human resource decisions
  6. Change management
  7. Making situational strategic decisions in context (items 1-6)

 

Key concepts in the Economics curriculum

Microeconomics
1 Supply and Demand
2 Scarcity and choice
3 Competition
4 The Failure of markets and government interventions
5 Opportunity Cost
6 ‘Economist's toolkit’ in context
7 The interaction between the micro and macro environment

 

Macroeconomics
1 Supply and Demand (Aggregate)
2 Macroeconomic performance
3 International Trade
4 Globalisation
5 Macroeconomic Policies and solutions
6 ‘Economist's toolkit’ in context
7 The interaction between the micro and macro environment

 

 

Business Studies: Academic End Points
Year 10 In Year 10, students learn how entrepreneurs create and develop business ideas, exploring the risks and rewards of starting and running a business. They investigate how businesses identify customer needs through market research, use market segmentation to target customers, and compete effectively in different markets. Students study different forms of business ownership, business location decisions, the marketing mix and the importance of business planning in supporting success. They develop their understanding of business finance, including revenue, costs, profit, break-even, cash flow forecasting and sources of finance for new and existing businesses. Students also explore the role of stakeholders, the impact of technology and legislation, and how businesses respond to the needs and expectations of different groups. Throughout the year, they examine how external factors such as inflation, taxation, interest rates, unemployment and economic change influence business decisions, performance and growth.
Year 11 In Year 11, students explore how businesses grow through internal and external methods, including innovation, mergers, takeovers and expansion into international markets. They examine the impact of globalisation, ethics and environmental issues on business decisions, considering how organisations balance profit with social responsibility. Students develop their understanding of marketing by studying product design, pricing, promotion, distribution and how the marketing mix can be used to gain a competitive advantage. They investigate business operations and finance, learning about production methods, quality management, supply chains, profitability and the use of financial data to assess business performance. Students also study human resource management, including organisational structures, recruitment, training and employee motivation. Throughout the course, they analyse how decisions across marketing, operations, finance and human resources work together to influence the success and growth of businesses in national and global contexts.
Year 12 In Year 12, students develop a deeper understanding of how businesses operate by studying marketing, finance, operations, human resources, entrepreneurship and the external environment. They explore how businesses identify and respond to customer needs, analyse markets, conduct market research, and use marketing strategies to gain a competitive advantage. Students learn how businesses raise finance, manage cash flow, forecast sales, calculate profitability and liquidity, and use financial information to support decision-making. They examine how businesses manage people and resources effectively, including recruitment, motivation, leadership, production methods, quality management and efficiency. Students also investigate the role of entrepreneurs and business leaders, considering different business objectives, ownership structures, risk, innovation and strategic decision-making. As the year progresses, they begin to study business strategy, learning how organisations use tools such as SWOT, PESTLE and the Ansoff Matrix to analyse opportunities, respond to external influences and plan for long-term success.
Year 13 In Year 13, students develop a strategic understanding of how businesses grow, compete and operate in an increasingly globalised world. They examine corporate strategy, business growth, globalisation and emerging economies, exploring how businesses identify opportunities, achieve competitive advantage and respond to changing market conditions. Students learn to use advanced decision-making techniques, including investment appraisal, forecasting and quantitative analysis, to evaluate business performance and support strategic decisions. They study how businesses assess competitiveness through financial and non-financial measures, while analysing the factors that influence success in domestic and international markets. Students also explore global marketing, multinational corporations and the challenges and opportunities of operating across different cultures, economies and legal environments. Throughout the course, they develop their ability to evaluate strategic change, external influences and global business decisions, applying marketing, finance, operations and human resource concepts to complex real-world business scenarios.

 

Click here to visualise the Business Studies learner journey

 

Cambridge Technical - Business Academic End Points
Year 12 In Year 12, students develop a broad understanding of how businesses operate through a combination of examined and coursework units. They study the business environment, exploring business activity, ownership, organisational structures, finance, stakeholders and external influences on business performance. Students learn how businesses communicate effectively with customers, deliver customer service and respond to customer needs. They investigate marketing and market research, examining how businesses identify target markets, analyse customer behaviour, develop marketing strategies and evaluate the success of marketing campaigns. Diploma students also study business decision-making, using financial and non-financial information to assess profitability, cash flow, investment opportunities and strategic choices. Throughout the course, students build practical skills in research, communication, analysis, evaluation and decision-making through real business contexts, coursework projects, presentations and exam-based assessments, preparing them to justify business recommendations and solve business problems.
Year 13 In Year 13, students build on their Year 12 learning by developing a more strategic understanding of business operations, project management and organisational change. They study working in a business environment, including business protocols, communication with stakeholders, business documentation, meetings and prioritising workplace tasks. Students explore change management, examining the drivers of change, theories of organisational change, the impact of change on businesses and stakeholders, and how organisations monitor and manage change effectively. They also develop advanced project management skills, learning how to plan, resource, monitor and evaluate projects using tools such as risk registers, Gantt charts and critical path analysis. Diploma students further apply these skills by delivering and evaluating a business project, carrying out research, assessing feasibility, collaborating in project teams and reviewing project outcomes. Throughout the course, students strengthen their ability to analyse, evaluate and justify business decisions while developing key workplace competencies including communication, leadership, teamwork, problem-solving and project management.

 

Click here to visualise the Cam Tech Business Studies learner journey

 

Economics - Academic End Points

Year 12

 In Year 12, students develop an understanding of how individuals, businesses and governments make decisions in conditions of scarcity and how these decisions influence markets and the wider economy. They study core microeconomic concepts including scarcity, opportunity cost, specialisation, demand and supply, market equilibrium, elasticity, market failure and government intervention. Alongside this, students explore macroeconomics, investigating measures of economic performance such as economic growth, inflation, unemployment and the balance of payments. They examine aggregate demand and aggregate supply, national income, economic growth, and the use of fiscal, monetary and supply-side policies to achieve macroeconomic objectives. Throughout the course, students apply economic theories and models to real-world contexts, interpret and evaluate economic data, analyse the impact of economic decisions and policies, construct reasoned arguments, and develop the quantitative, analytical and evaluative skills required for further study of economics.

Year 13

 In Year 13, students deepen their understanding of microeconomic and macroeconomic theory by analysing how businesses, governments and economies respond to complex economic challenges. They study business growth, objectives, costs, revenues and profits, market structures, labour markets and government intervention, exploring how firms make strategic decisions and how market outcomes affect consumers, workers and society. Students also investigate international economics, including globalisation, trade, protectionism and exchange rates, alongside the causes and consequences of poverty and inequality, economic development, the role of financial markets, and the influence of government policy on economic performance. Throughout the course, students apply economic models to real-world contexts, evaluate competing arguments, interpret qualitative and quantitative data, assess policy trade-offs, and develop the analytical, evaluative and synoptic skills required to make informed judgements about contemporary economic issues.

 

Click here to visualise the Economics learner journey