Quantitative skills in economics
In order to develop their skills, knowledge and understanding in economics, students need to have acquired competence in the quantitative skills that are relevant to the subject content and which are applied in the context of an economics GCSE, including:
- calculate percentages and percentage changes, including interest on savings
- calculate averages including cost
- calculate totals including revenue costs and profit
- calculate income including gross and net pay
- construct graphs from data including supply and demand curves
- interpret and use information from graphs and charts to support and justify economic decisions
- interpret and use economic data to support and justify economic decisions.
At least 10% of the total marks for GCSE economics will be awarded for quantitative skills demonstrated at the same level, or higher, than at Key Stage 3.