Economics is about choice and its impact. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and businesses.
Studying Economics will help you understand and make use of economic information. You will learn to analyse, interpret, predict and explain the actions of individuals, businesses and governments to various economic situations. You will develop an appreciation of how markets and governments work and how the decisions taken in these economic contexts affect our daily lives.
Economics is therefore a useful subject for many students, particularly if you are interested in a career in business or finance, central or local government.
Entry is at the discretion of the school or college, but you would normally be expected to have:
The course consists of three areas of study.
Economics of the market
You will develop your understanding of how to analyse the basic economic problem, and examine and analyse how demand and supply drives resource allocation and economic production.
UK economic activity
You will develop your understanding of how to analyse government income and expenditure, and evaluate the role of the public and private sectors in the economy. You will develop the ability to assess the policies and other methods used by the UK government to achieve its economic aims.
Global economic activity
You will develop your understanding of how to analyse the global nature of economics, and explore global trade and its importance to the UK economy. You will examine economic features and impacts of developing countries, emerging economies, global institutions and the EU.
The course assessment has two components totalling 110 marks:
For the assignment component, you will choose a topic to research and produce an economics report based on an analysis of your research findings, detailing appropriate conclusions and/or recommendations.
Both the question paper and the assignment are set and externally marked by the Scottish Qualifications Authority (SQA).
The grade awarded is based on the total marks achieved across course assessment.
The course assessment is graded A-D.
If you complete the course successfully, it may lead to:
Further study, training or employment in:
Your school will give your parents an Options or Choices information booklet, which has detailed information on the curriculum and the individual subjects or courses you can study. It will also invite them along to a Parents’ Information Evening.
They can also read the information leaflet(s):