Top tips for Business Studies and Economics
Business Studies
- Flexible in your thinking- there is no set answer in Business. You need to weigh up a situation to make a decision.
- Analytical to identify the key issues in a situation
- Able to make supported judgements. Having an opinion is one thing but being able to put together a logical recommendation building on analysis is another.
- Comfortable using numbers to support your arguments. The maths involved is not particularly demanding but clearly to make decisions you must be able to compare the likely returns with the investment, assess the value of different projects and interpret data to assess a situation
- Able to appreciate that there are different perspectives to any decision. What might be good for investors may not be good for employees!
- Well informed about current business and economic events and follow the activities of a range of possible business over the course of the two years in order to see how businesses behave in real life.
Economics
One of the great things about studying Economics is that students learn about real life, bang up to the minute Economic issues, such as globalisation; economic growth and sustainable development; wealth, poverty and inequality; how producers and consumers behave; how markets work and how they fail; government spending and taxation and how they intervene in our economic decision making. Studying Economics should be about being interested and informed about the economy and everything we study is placed in the wider, real life context.
You are expected to understand and keep up to date with the changing economic situation by reading newspaper articles and using relevant websites, such as The BBC and other news links, government information and statistical web pages and reference sites such as tutor2u. There are regular classroom discussions, which encourage students to verbalise their knowledge and opinions.
