SQA Higher Economics specification (X822 76)
Understanding the exam specification is key to doing well in your SQA Higher Economics exam. It lays out exactly what you need to learn, how you'll be assessed, and what skills the examiners seek. Whether you're working through the course for the first time or revising for your final exams, the specification helps you stay focused and confident in your preparation.
We've included helpful revision tools to support you in putting the specification into practice. Wherever you're starting from, you'll find everything you need to feel prepared, from the official specification to high-quality resources designed to help you succeed.
Examiner-written revision resources that improve your grades 2x
- Written by expert teachers and examiners
- Aligned to exam specifications
- Everything you need to know, and nothing you don’t
In the next section, you'll find a simplified summary of the official SQA Higher Economics specification, along with a breakdown of key topics, assessment structure, and useful study resources. We've also included links to topic-level guides and revision tools to help you put the specification into practice.
Contents
Disclaimer
This page includes a summary of the official SQA Higher Economics (X822 76) specification, provided to support your revision. While we've made every effort to ensure accuracy, Save My Exams is not affiliated with the awarding body.
For the most complete and up-to-date information, we strongly recommend consulting the official SQA specification PDF.
Specification overview
This Higher Economics course equips learners with a thorough understanding of the workings of markets, governments, and the global economy. It focuses on the decisions and behaviours of individuals, firms and governments, encouraging candidates to apply economic reasoning to real-world contexts. Through this study, candidates learn to analyse economic issues, assess policy impacts, and interpret economic data to form well-informed judgments. The course fosters critical thinking and effective communication in economic contexts, preparing learners to engage with and evaluate economic challenges at local, national, and global levels.
Subject content breakdown
Economics of the market
- Understand scarcity, choice, opportunity cost, and the economic problem.
- Interpret production possibility diagrams for efficiency and trade-offs.
- Analyse demand and supply theory, determinants, and elasticity.
- Explain market equilibrium and the effects of changes in demand/supply.
- Understand production, costs (short/long run), and returns to factors.
- Compare perfect competition and monopoly characteristics.
- Examine causes and types of market failure; justify government interventions.
UK economic activity
- Understand government finance: taxation (types, effects), spending (types), and budgeting.
- Evaluate government macroeconomic aims: inflation, (un)employment, and growth (causes, effects, trends).
- Analyse government policy tools: fiscal, monetary, and supply-side.
- Explain national income: circular flow, GDP, GNP, the multiplier effect.
- Assess Scotland's role in UK economy: devolved powers and policy impacts.
Global economic activity
- Explore UK trade trends: imports, exports, trade barriers, and specialisation.
- Evaluate impacts of globalisation and trading blocs.
- Assess multinationals: location factors and economic effects.
- Analyse exchange rate causes and consequences.
- Understand the balance of payments: current and capital accounts, and their trends.
- Examine developing, emerging, and developed economies; global institutions (WTO, IMF, World Bank).
Assessment structure
Question Paper
- 90 marks (75% of total grade), 2 hours 30 minutes.
- Section 1 (30 marks): Two multi-part questions based on stimulus (graphs, text, diagrams), assessing data handling and application across all three study areas.
- Section 2 (60 marks): Three 20-mark questions, each based on a different study area, testing depth of knowledge and understanding.
- All questions are mandatory and may involve graph drawing, interpretation, and economic reasoning.
- Set and externally marked by SQA under exam conditions.
Assignment
- 30 marks (25% of total grade), approx. 8 hours.
- Candidates research a current economic issue and write a structured economics report.
- Must include introduction, research, application, analysis, conclusions, and structure.
- Topics are framed as questions (e.g. “What is the impact of rising interest rates on the UK economy?”).
- Open-book and conducted under some supervision with strict authenticity checks.
- Externally marked by SQA; maximum 2,000 words (excluding up to 4 pages of appendices).
Grading
- A–D grade awarded based on total marks from both components.
- Grade A reflects consistently high performance; grade C reflects satisfactory performance.
Key tips for success
Doing well in your SQA Higher Economics isn't just about how much you study, but how you study. Here are a few proven tips to help you stay on track
- Start with a clear plan: Break the subject into topics and create a revision schedule that allows enough time for each. Start early to avoid last-minute stress.
- Focus on understanding, not memorising: Use our revision notes to build a strong foundation in each topic, making sure you actually understand the material.
- Practise regularly: Attempt past papers to familiarise yourself with the exam format and timing. Mark your answers to see how close you are to full marks.
- Be strategic with your revision: Use exam questions by topic to focus on weaker areas, and flashcards to reinforce important facts and terminology.
- Learn from mistakes: Whether it's from mock exams or practice questions, spend time reviewing what went wrong and why. This helps prevent repeat mistakes in the real exam.
- Stay balanced: Don't forget to take regular breaks, eat well, and get enough sleep, a healthy routine makes revision much more effective.
With the right approach and consistent practice, you'll build confidence and improve your chances of exam success.
Share this article