School Closure Information
Economics is about choice and its impact. It relates to the economic decisions we make as individuals, firms and governments.
Higher economics will help you to develop an appreciation of how markets and governments work, and how decisions taken in these economic contexts affect everyday life. It will allow you to develop your ability to think logically and to consider the reasons for, and the effects of, economic decisions and policies. It will also help you to understand the key concepts of economics and apply them in real-life contexts.
Purpose and aims
The course highlights the importance of economic concepts, government policies and global trade. It builds on your own experiences as consumers and will help you to interpret economic situations through the application of these concepts.
You will have the opportunity to analyse, interpret, predict and explain the actions of individuals, firms and governments in various economic situations.
You will develop an understanding of:
- how markets work
- how governments attempt to address economic problems
- how to analyse, interpret and communicate economic information
The course consists of three areas of study:
|Economics of the market
|· develop an understanding of how to analyse the basic economic problem.
· examine and analyse how demand and supply drives resource allocation and economic production.
|UK economic activity||· develop an understanding of how to analyse government income and expenditure.
· evaluate the role of the public and private sectors in the economy.
· develop the ability to assess the policies and other methods used by the UK government to achieve its economic aims.
|Global economic activity
|· develop an understanding of how to analyse the global nature of economics.
· explore global trade and its importance to the UK economy.
· examine economic features and impacts of developing countries, emerging economies, global institutions and the EU.
The course consists of 24 SCQF credit points which includes time for preparation for course assessment. The course assessment has two components.
|Component 1: question paper
Course code: C822 76
|90||2 hours and 30 minutes|
|Component 2: assignment
Course assessment code: X822 76
If you have any queries please email Ms Collins at: Amanda.Collins@royalhigh.edin.sch.uk