Economics
Economics and business management provide a window into the way the world operates and a greater understanding of issues that affect us all.
The department runs a Friday afternoon programme for boys in Year 7 to 9 to help develop their understanding of the business and economic world. This has looked at why firms come into being, simple problems of resource allocation, and an introduction to behavioural economics and ‘nudge’ theory. The aim has been to show boys in the Lower School how economists think, and how economic issues are pertinent to them.
Please note the school does not offer GCSE Economics or GCSE Business.
Economics is a fascinating subject in part because it touches on so many other disciplines, such as politics, business, history, geography, and psychology. The great economist, John Maynard Keynes, once stated that an economist must be “mathematician, historian, statesman, and philosopher… He must understand symbols yet speak in words.”
A Level Economics provides a good grounding for those who wish to study the subject at university as well as being a stimulating course for those not intending to study the subject further. It fits well into most subject combinations, providing a useful crossover between the arts and the sciences. The performance of the UK economy affects us all; economic policies are key issues in all general elections. An understanding of Economics therefore is a valuable part of a general
education as well as a useful attribute for many careers. Pupils undertaking the course will feel they better understand the world around them.
Future careers
Economics is a good introduction to the subject at university, which is more mathematical than post-16 Economics. It is also a subject that leads to a number of interesting careers, notably in academia and financial services, banking and management consultancy. The applicability of economics extends beyond traditional fields, with a growing significance in environmental careers, which are expected to gain prominence in the years ahead.
Beyond the classroom
Students throughout the school are encouraged to enter a range of national business and economics competitions. There is also an Economics & Business Society that organises lunchtime visiting speakers to introduce boys to potential career paths and engage in topical debates.
The department has run a range of trips to support and develop the boys’ knowledge of the trials and travails of a modern global economy. However, the best way for boys to develop their understanding of the subject is to experience it: reflecting upon how they allocate their leisure time, thinking about the factors that influence their spending habits, and keeping abreast of current affairs in broadsheet newspapers and reputable websites.
Meet the Head of Department
Mr Watson
Mr Watson graduated with a PPE degree from Oxford, and has since taught Economics for 29 years: in Sri Lanka, where he also worked as a journalist and appeared in a Sinhalese teledrama, at Winchester, spending a decade as Head of Department and, albeit briefly, teaching Prime Minister, Rishi Sunak, and now currently at King Edward’s School.
He’s been a Principal Examiner in Economics, runs his own Economics blog Scoop It! and is a lead contributor to Tutor2U’s Economics blog, which gets over 1 million views each week. He’s married with two sons, both currently at King Edward’s School. Mr Watson is also a Vice-Chair of Governors at Park Hill Primary School, Moseley, and Junior Section Chairman and Committee Member at Moseley Ashfield Cricket Club. In his spare time he enjoys reading, cooking, drinking fine wine and watching sports. He loves adventurous travel, and met his wife on an island in the middle of the Zambezi River.
