Common Time 2019


Winchester Economics
Winchester Economics
Winchester Economics

Economics is traditionally defined as "the study of the production, distribution and consumption of wealth in human society". It examines how scarce economics resources are allocated among competing uses. The primary aim of an economic system is to improve the standard of living of the citizens of a country. Economics is therefore an engaging, dynamic subject that is continually changing and evolving with a wide array of ‘real world' applications.

The Pre-U syllabus examines microeconomic issues of how individual economic agents and individual markets allocate resources and the relative efficiency of economic outcomes as well as macroeconomic concerns - the strength of economic performance, international trade and exchange rates, evaluating government intervention.

The examination consists of three papers - a multiple choice, short answer and data response paper; an essay paper; a paper looking at the specific areas of Economics outlined. In preparation, pupils learn a wide variety of skills, exploring how the economic theory applies to different economic issues. They can develop their ability to analyse aspects of decision-making and evaluate the strength and weaknesses of different arguments.

We have a flourishing Economics Society (called the Ramsey Society) where speakers address the boys on a range of economics and political topics. Further, boys can take part in external competitions such as the Royal Economics Society and the Institute of Economic Affairs Student Essay Competitions. We have also held two very successful Symposia with other schools, looking at a range of contemporary economic issues, from Economic Development to Game Theory.