Economics 1: Micro and Macro SCQF Level 8

A detailed study of the economy and its many influencing factors.

Overview

Why take this course?

This is an optional Unit within the HNC/HND Business Group Award. It may also be an optional part of other HN Group Awards, or taken as a stand alone HN Unit. It has three outcomes, introducing you to:

  • Costs of the firm, market structures and the objective of profit maximisation
  • Unemployment and inflation
  • Government policy and the use of revenue and expenditure

Throughout the course you will explore Microeconomic theory, and look at the costs and the behaviour of firms within the economy. You will also explore Macroeconomic theory, where you will look at the economy as a whole, and key influencing factors. For further information on this course, please visit the SQA website.

Credit points and level: 1 HN credit at SCQF level 8: (8 SCQF credit points at SCQF level 8)

What you will experience

Outcome 1 introduces the costs of the firm in the short run and the long run and the market structures within which a firm operates. It will also cover the role of profit and the objective of profit maximisation, as well as alternative objectives of the firm.

In Outcome 2 you will study the causes and effects of unemployment and inflation.

In Outcome 3 you will explore government policy and the choices governments have to make with regard to revenue and spending. You will consider the use of both fiscal and monetary policy. Throughout the Unit you will be involved in researching economic concepts and economic trends using a variety of information sources.

To complete this unit you may be asked to complete three assessments - an open-book essay or report that you will complete without supervision, and two additional assessments completed under supervised conditions. You are permitted to bring 250 words of your own summary notes to each assessment, and will be asked to submit your notes with your response. No other reference material will be permitted. Assessments may be question-based relating to newspaper, journal or internet articles.

Alternatively you may be asked to complete two assessments to achieve the unit. In this case, Outcomes 2 and 3 would be assessed together and you will be allowed to take 500 words of your own summary notes. Preparation for assessments should involve your own research using newspaper articles, the internet and textbooks. This can be written as notes containing graphs, tables and other relevant materials.

Student writing

Key facts

Mode of study
Part-time
Method of study
This is a blended learning course, combining self study with elements of classroom attendance – often for assessment purposes only.

What you will need

Students are responsible for securing unit resources listed.

What you need to know

Additional costs

This course involves an additional SQA fee. Please see our Courses Explained page for further information on costs.

Anything else?

Please note that fee waivers or ILA funding may apply.

Next steps

Education

Employment

For more information about job opportunities, salaries and employment rates in this industry, visit the Career Coach website.

Availability

Pre-entry guidance is required prior to booking a place on this course. Please contact Brenda Bryce, Distance Learning Co-ordinator by email or on 01346 506014 in the first instance for more information. When submitting your distance learning application form, please ensure you attach the additional information sheet listing qualifications and previous knowledge with your application. You may be required to attend College for assessment. Please check if this is a requirement for your course.

Please note that timetabling changes can often occur after the Part-time Course Guide is published, and as a result the printed version of the guide may not hold the most up-to-date information.

We therefore advise you that all start dates and times listed on the website are at all times accurate, and should be used as your main point of reference before booking your course.

Starts Duration Fees Code
1 September 2016 40 Hours over 6 Months £119.00
YBUEC
-O161A
Paper applications only

Paper applications

You must submit a paper application form and additional information form for this course and return them to us completed and signed.

Completed forms should be returned to the following freepost address:

The Student Information & Admissions Manager
North East Scotland College
FREEPOST RTJJ-TXBA-AEZS
Aberdeen City Campus
Gallowgate
Aberdeen
Scotland
UK AB25 1BN

Should you have any problems with your application, please contact the Information & Booking Centre:

Telephone: 01224 612330
Email: enquiry@nescol.ac.uk

If you take up a place on a College course, at the start of the course you will be asked to sign an enrolment form. In signing the form and/or taking up a place on a College course, you will enter into a contract with the College and be bound by the North East Scotland College Standard Terms and Conditions of Study. Copies of the Terms and Conditions are available for inspection on notice boards and at various locations throughout the College, at the College Reception, on the College website: www.nescol.ac.uk, or can be obtained on request from the Student Funding and Admissions Manager, North East Scotland College, Aberdeen City Campus, Gallowgate, Aberdeen AB25 1BN. Please note that courses are offered subject to (a) there being sufficient numbers of enrolments and (b) the availability of resources. The College reserves its right (i) not to run courses where the number of students is considered insufficient or where resources are unavailable and (ii) in certain circumstances, to refuse admission to an individual applicant.

For distance learning courses, the course fees for non-Scottish residents may differ from that advertised on the website and in the course guide. Therefore, all course fees should be confirmed with the College at the time of booking.