TEAM MEMBERS ARE:
Rahela Begum (Head of Economics and Business)
Allison Mills (Business Teacher)
KEY STAGE 4
In Year 11 students are following the Level 2 Certificate in Financial Education (CeFE) GCSE Equivalent course.
The Course Information
The Level 2 Certificate in Financial Education (CeFE) has been designed to prepare students to take their place in society as responsible citizens by providing them with the skills and knowledge to manage their money well and make sound financial decisions. The CeFE also aims to provide students with an understanding of the wider realm of public finance and the economy.
Where It Will Lead
The course may help you decide if a job in insurance or banking, or as a Financial Advisor, is for you. In addition, it will help you make better-informed choices about your own finances, and understand how financial services products can help you achieve your personal aspirations.
Successful students can progress to Level 3 courses in Business or Financial Studies subjects should they meet the requirements of sixth form.
The Level 2 Certificate has 3 units:
Finance, the Individual and Society (Unit 1) – Understanding the role of the citizen in the UK, and the impact they have on personal finance. The unit will also provide students with an understanding of the contribution of an individual to the economy of a country and the impact of external factors on personal financial plans.
Practices of Managing Money (Unit 2) – In this unit, students will understand the concept of financial planning and personal financial budgets. The unit will also provide students with an understanding of the impact on both the individual and society of spending and borrowing.
Financial Capability, Work and Enterprise (Unit 3) – This unit has been designed to provide learners with an understanding of how businesses manage money and the relationship between personal money management and business money management.
There are 2 online multiple choice tests at the end of units 1 and 2 each worth 35% of overall marks. In addition, there is a written paper at the end of unit 3 worth 30% of overall marks. Overall results are graded A*-C (GCSE equivalent). In order to pass the course, students are required to achieve the set minimum pass mark of 50% in each of the 3 units.
The courses are taught in the Business Studies area with easy access to several computer rooms. You will learn in the usual taught classes, but with some supported self-study using the online materials available from your course tutor and LIBF.
YEAR 9 AND 10
What do you study?
As an alternative to the Business GCSE, we offer a vocational course for students who want an introduction to Business and Enterprise that includes a hands-on element, aiming to enthuse and inspire learners about a career in Business and Enterprise. The course offered is the NCFE VCERT Level 1/2 Technical Award in Business and Enterprise. This will appeal to learners who wish to either set up their own business, move into employment or progress onto further study and will introduce students to the skills and experience essential for success in the world of work.
The main topics of study are:
- Finance – using budgets, improving cash flow and profits. • People – recruitment, selection, training and motivation.
- Operations Management – operational decisions, quality, customer service, suppliers, technology.
- Marketing – designing and using an effective marketing mix including advertising and promotions, adapting to changes in market conditions and competitiveness.
What will pupils learn:
- Pupils will gain a broad understanding of Business and Enterprise including the following:
- entrepreneurial characteristics and business aims and objectives
- legal structures, organisational structures and stakeholder engagement
- the marketing mix, market research, market types and orientation types
- internal and external influences on business
- research, resource planning and growth for business
- human resource requirements for a business start-up
- sources of enterprise funding and business finance
- business and enterprise planning
Why Study Business?
A vocational course in Business not only introduces business theory, concepts and techniques, but also gives students the opportunity to experience how these tools are used in practice. Students gain the knowledge, transferable skills and tools to enhance their employability when they leave education, contributing to their personal development and future economic well-being.
How is the course assessed?
To be awarded the NCFE Level 1/2 Technical Award in Business and Enterprise, students are required to successfully complete two mandatory units;
Unit 01 – Introduction to Business and Enterprise -40% Weighting Externally Assessed: Written Examination (externally marked)
This unit is externally assessed through a written examination and carries 40% of the marks for the course. The exam will feature questions on entrepreneurship and business ownership, marketing, business operations, and both internal and external influences on businesses.
Unit Grades: NYA, L1P, L1M, L1D, L2P, L2M, L2D
Useful Information for Year 11
There are a number of useful websites to support students at home:
- GCSE pod (Has various short videos which cover the specification for.
- BBC bitesize find a few videos which can be cross checked with the specification such as exchange rates/internet rates etc.
- Bank of England (BoE) website has updates on Interested rates and inflation.
- The LiBF portal : visit: www.libflearning.ac.uk– LIBF provides a comprehensive online learning support package including: access to extensive resources via the information gateway, my libflearning libf KnowledgeBank, an information service and e-library, giving you access to a wide range of databases, full text journals, reference sources and books.
Intervention classes and clubs:
Mondays & Thursday 3:05 – 4:05 in K15