Entries Tagged 'education' ↓

At the moment, my A Level students keep asking me which are the ‘best universities for Economics’.

The first 3 universities which spring to mind:

Cambridge. A long tradition of economics, including Alfred Marshall and John Maynard Keynes. Cambridge economics has a reputation for being strong on  maths.

Oxford. Where I studied Economics. The two courses for Economics are P.P.E and Economics and Management. Economics and management tends to be very competitive because there are not many places. Generally, Oxford economics places less emphasis on maths. There is a strong department for development economics.

LSE. One of the strongest economics departments in the country. Excellent resources and very competitive.

The top 10 Universities in terms of Entry Requirements are:

1. Cambridge
2. LSE
3. Oxford
4. Bristol
5. Durham
6. Edinburgh
7. Nottingham
8. UCL
9. Warwick
10. York

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Readers Question: Hi, I actually had the exact question (Economics vs Business) – I just began doing Business Studies this term and have only had three lessons, which I actually quite enjoyed. Though, last lesson I was set homework to look for a recent article related to Business that I was interested in. My family is pushing me to change to Economics. The thing is that I quite enjoy learning about the ways in which Businesses fail or succeed and why. Is this part of what overlaps in Economics?

Parents! In economics you don’t really look at why businesses fail and succeed. We look at how firms operate in different market structures such as Oligopoly and Monopoly; but, the success or failure of firms is mainly business studies. It is good if you are interested in your business studies, it bodes well for the next two years.

Also, I have been told that there is not much difference between the Business Studies A level and GCSE. Is this true?

There are similar ideas between both. I know that GCSE economics is very similar to AS economics.

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Readers Question: why is it not preferable to take business studies along with economics? and as i am a commerce student going for my alevels what 3 subjects should i go for? although i have decided on taking math economics arts, along with GP which is necessary- career undecided!

Studying Business Studies and Economics

• Some universities do not like students to have both economics and business studies. The argument is that there is an overlap between the two subjects and that it is better to get a bigger diversification. Some universities accept both together, but, if you do decide to do both, you need to be very careful and make sure your target universities won’t object

Choosing A Level Subjects

• The choice of subjects is less critical than many students fear. If you choose to do Economics it is not going to tie you down to being an economist or economic teacher. Most employers give more attention to the general skills developed rather than the subject specific skills.
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25 years ago, 12% of candidates received a grade A at A Level. Last year, that % rose to 25%. Maybe there are people in the government, who really feel that educational standards have increased 100%. However, anyone involved in A Levels knows this is mainly due to changing grade boundaries so that a higher % of candidates get an A. (I have marked an A Level paper where the raw A grade level was 53%., which of course is fudged into a UMS mark)

The problem with that inflation is that it reduces the value of money. It is the same with grade inflation. Because twice as many people get an A grade, an A grade has become devalued. This benefits those who get a lower A and would have previously received a B. However, it is not good for those who get a high A. What is the point in getting 89% on a paper, if you could have got an A with 60%

The other main problem is that the top universities find it difficult to choose candidates. So many people get 3 As that it is hard to discriminate for the most popular courses. Unsuprisingly universities are increasingly using their own admission tests to choose between candidates.

But, it means A Levels are not doing their job. Universities shouldn’t need to be setting their own tests. It’s about time the government and QCA realised that grade inflation benefits noone and certainly doesn’t ‘prove’ improving educational standards.

• Are A Levels getting easier
• Universities shun A Levels for own tests at Independent

Readers Question why is it that some universities will prefer students not to take business studies as well?

I think the main reason is that some universities think they are too close in terms of content and style. There is some overlap of the syllabus. For example:

• Economies of Scale
• Concepts of Efficiency
• External influences (macro economics) interest rates, inflation, economic growth and exchange rates.

There was also a time when there was a perception (whether fair or not) that Business Studies was a ‘dumbed down’ version of Economics.

To be honest, I think it is a bit harsh that some universities don’t accept both economics and Business as apart from a few areas of overlap they are independent subjects worth studying on their own merits.

It is worth checking closely which universities object to both A Levels; there are several universities who do accept both. Although off the top of my head I can’t name them.

If you live in Oxford and are interested in having economics lessons, you can contact me here. I may be quite busy (I spend too much time blogging these days!)

You may also like to arrange tuition through a tutorial college. I work for Cherwell College and at various times have worked for Oxford International College OIC. Both would be able to help find an Economics tutor for either revision lessons before exams or permanent lessons throughout the year.

Readers Question: To pay you to teach me Economics through Cherwell Tutors will cost me about £45. If I instead advertise in the tutorial section at Daily Information I can probably get you (or equivalent) at £18.

Is this an example of market failure?

Well maybe £25 an hour.

It’s an interesting question.

There are various advantages for arranging tutorials through a well established college.

• Time costs of arranging tutorials.
• For more than one subject private reaching would be split up into different locations, increasing transport costs and time inconvenience.

However, for the one off lesson there are certain advantages of arranging a lesson privately. Primarily, the cost is roughly half. If there is a clear financial benefit why doesn’t it occur more often?

• Poor information. I could advertise at Daily Info, but I  don’t have much incentive. The extra income is fairly low and there is the inconvenience of having to advertise and teach at home.
• The main problem is that the market is too small and sporadic. There would be greater demand before exams, but, generally throughout the year demand would be too small to make it worthwhile a) tutor’s advertising b) prospective student searching Daily Info.
• However, some tutors do advertise on Daily Info, so presumably there is a market for those who want to try. However, I would say the advantages of privately arranged lessons are greater for the buyer than the seller. Maybe tutors should charge a higher rate £30. At £30 there is a greater incentive to spend time marketing your services. But, would a £15 saving mean buyers would prefer to goto established colleges.

Is It Market Failure?

Not really, but there is a certain lack of information. Maybe an internet database could keep details of tutors services and this could make it easier to arrange tutorials. This would help overcome the limited information market failure.

Every year, I teach an Economic easter revision courses at Cherwell College.

Usually, in a week we can go through the whole A Level or AS syllabus. It always interests me how you can condense 1 or 2 years teaching into 1 week. We might not go through every detail, but, we go through all the main topics and concentrate on how to answer likely exam questions.

During each day, I will set an old exam paper to give practice in answering exam questions under pressure.

The day is quite long stretching from 9am to about 4.30pm. There is also homework set in the evening. If you need a boost in a particular subject, an intensive Easter Revision course can be very beneficial. I think most student would agree it would be impossible to study as much from their own motivation.

Also, over Easter I often do some individual one to one tuition.

You can contact me for further details

Previously, I have written about whether A Levels have been getting easier

Generally, I think it is a shame there is less differentiation between good students and excellent students. The main problem is that the % of grades getting an A is too high. Therefore, there is too little discrimination.

From next year, the new A Levels that will be taught will have the chance for outstanding candidates to get an A*. This is a good development

The QCA have said they will be intervening to make sure  that A Levels are sufficiently difficult. This is a bit ironic, as the QCA have often been responsible for increasing the % of candidates who get an A.

What does it Mean for Students?

Not a lot really. Students can only do the best they can, given the exam. Quite often, a lot is spoken about grand changes to the system, but, in the classroom things don’t really change.

Exams watchdog intervenes to make A Levels harder