National 5 Economics tutoring develops understanding of how economic decisions are made by individuals, firms and governments. Lessons focus on applying economic theory to real-world issues, interpreting data accurately and structuring analytical responses clearly in both the exam and assignment.

The course is assessed through:

Question Paper – 75%
Assignment (Economic Report) – 25%

The question paper includes data-response and extended questions drawn from across the course. The assignment requires students to research a current economic issue and produce a structured analytical report.

Key Areas of the Course

The Basic Economic Problem

• Scarcity, choice and opportunity cost
• Factors of production and resource allocation
• Production possibility diagrams

Microeconomics

• Demand and supply and price determination
• Elasticity of demand and supply
• Market structures and competition
• Government intervention including taxation, subsidies and price controls

Macroeconomics

• Economic growth and GDP
• Inflation and unemployment
• Fiscal and monetary policy
• The role of government in managing the economy

International Economics

• Globalisation and international trade
• Exchange rates
• Trade barriers and protectionism

Assignment (Economic Report)

Students select a current economic issue and produce a report answering a focused question. They research and reference at least two sources, present findings, analyse and interpret evidence, apply relevant economic theory within their analysis, and draw justified conclusions and/or recommendations. Marks are awarded for introduction, research sources, findings and analysis, conclusions/recommendations, economic theory and structure.

Students often need support with:

• Applying economic theory accurately rather than describing issues in general terms.
• Explaining diagrams clearly, particularly demand and supply shifts.
• Developing analysis beyond stating a chain of events, showing full economic reasoning.
• Interpreting statistics, graphs and data in context.
• Structuring extended responses logically in data-response questions.
• Integrating economic theory naturally within the assignment analysis rather than adding it separately.

Higher Economics tutoring focuses on helping students secure strong exam performance by developing clear economic reasoning, confident data analysis and the ability to construct well-structured extended responses. Lessons are tailored to strengthen both core theory and application to real-world economic issues.

Assessment

Question Paper – 75%
Assignment – 25%

The course requires students to apply economic theory to real and unfamiliar contexts, analyse data and stimulus material, and construct well-supported evaluations and conclusions.

Key Areas of the Course

Economics of the Market

• Scarcity, choice and opportunity cost
• Demand, supply, elasticity and market equilibrium
• Costs, revenue, profit and market structures
• Market failure and government intervention

UK Economic Activity

• Government finance and macroeconomic aims
• Inflation, unemployment, growth and the balance of payments
• Fiscal, monetary and supply-side policies
• National income, GDP and the multiplier
• Scotland’s place within the UK economy

Global Economic Activity

• Global trade, specialisation and trade barriers
• Multinationals and exchange rates
• Balance of payments
• Developing and emerging economies
• Global institutions such as the WTO, IMF and World Bank

Students often need support with:

• Moving beyond description to sustained economic analysis and evaluation.
• Applying theory accurately to stimulus material in the question paper.
• Drawing and explaining economic diagrams correctly under time pressure.
• Structuring extended responses logically, particularly higher-mark questions.
• Integrating data, theory and evaluation rather than treating them separately.
• Managing time effectively across the 2 hour 30 minute paper.

Higher Economics Assignment

Higher Economics includes a mandatory externally marked assignment worth 25% of the final grade . Students research a current economic issue, apply relevant theory, analyse data and produce a structured economics report (up to 2,000 words) .

Support can include:

• Understanding how marks are allocated and what high-level evaluation looks like.
• Selecting a focused and manageable economic issue.
• Applying economic theory and diagrams accurately to real-world evidence.
• Structuring analysis clearly rather than describing issues narratively.
• Developing justified conclusions and recommendations based on evidence.