Higher Economics

This course comprises 3 units. The first unit covers the economic problem, production possibility curves, theory of demand, determinants of demand, price elasticity of demand, production, costs, supply, determinants of supply, markets and market intervention. The second unit covers government finance and policy, government aims (inflation and unemployment), national income and the place of Scotland in the UK economy. The third unit covers understanding global trade, multinationals, exchange rates, the balance of payments and understanding the impact of the global economy.