Economics & Business Studies

Exciting and inspiring students for the world of business

Business looks at the world of business and how it operates. Business is taught as an option subject for both GCSE and A-Level. Both courses allow you to develop an understanding of the integrated nature of Business and an ability to apply understanding to the real world. Students learn how to communicate effectively, understand and effectively manage finances, develop both analytical and evaluative skills and gain a wider understanding of how businesses operate within the global economy.

Although not vocational, the course is of direct relevance to the real world. It provides a bridge between your educational needs and the needs of life after school. Business at A Level will be of interest to those going onto further study at higher education as well as for those going directly to employment and training. For those students hoping for a career in business, management, administration, banking, accountancy and retailing, Business provides a strong platform from which to build upon.

Economics is the study of how best to allocate our resources, be it your own or those of the country. Choices have to be made regards ensuring the right goods are made, in the right way and go to the right people to maximize everyone’s welfare. It is about how and why we are wealthy and how and why we might be even more (or less) wealthy in the future. Economics at A level will be of interest to those going onto further study at higher education and as well as for those going directly into employment and training. Studying Economics will help you to evaluate conflicting arguments, analyse a problem and justify a solution. Consequently, the skills required for success at Economics are highly valued by both employers and universities alike.

Co-Curricular

During the Michaelmas Term students are given the opportunity to take part in the national IFS Student Investor Challenge, supported by Bloomberg, FTSE and AXA Investment Managers.  Teams buy and sell shares on the stock market – the money they use is virtual but it is based on the actual FTSE. This academic year our students have reached the semi-finals and are currently predicting closing prices of a variety of shares.  Find out more in the external link, here. (https://www.studentinvestor.org/)

In 2015 we reached the national finals of the Business, Accounting and Skills in Education (BASE) competition to represent the Lincoln area. This involved students completing a case study that would be given to a third year trainee chartered accountant student.  The students were excellent and even had potential job offers after they had completed university from the BBC! We will be once again offering this competition in 2016.

This year the Year 8s and 9s were given the opportunity to take part in ‘Tycoons in schools’ a national business enterprise competition run by the Peter Jones Foundation.  The students had between September and December to apply for a loan from the foundation and then set up their business. Two teams entered the competition and did incredibly well raising over £100 for local charities.

The department also has links with local businesses and has recently hosted an accountancy skills morning and Economics conference. Richard Page from Kaplan came into school to spend a morning developing students understanding of business accounts and ratio analysis. Pamela Wright from the Bank of England led a presentation to the students about monetary policy and the role of the Bank of England in maintaining economic stability. Simon Beardsley from the Chamber of Commerce also spoke about the importance of the Chamber of Commerce and what they see to be the key issues for the local, national and global economy in 2016.

Amy Tweedale, Head of Business Studies & Economics

Inspiring students to succeed through enterprise

Lincoln Minster School has an impressive track record in inspiring groups of sixth form students to take part in the Young Enterprise scheme every year.  Young Enterprise helps young people learn about business and the world of work in the classroom under the guidance of volunteer mentors from the world of business.

Participation in Young Enterprise undoubtedly adds to a CV.  It encourages young people to hone the employability skills they need – such as teamwork, practical thinking, punctuality and business like behaviour – to succeed in the world of work.

This year’s Young Enterprise group, Uni-T, have written ‘What’s next? A step by step guide to surviving life after school’. They researched the four topics within the book, food, home, health and finance so that they could provide accurate advice from GPs, financial advisors, current University students, friends and family members. At the recent area trade fair the students won the award for ‘Best Brand’ and will be entering the area finals at the end of March.

Find out more about Young Enterprise here (external link) (http://www.young-enterprise.org.uk/)

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