SQA National 5 Economics specification (X822 75)
Understanding the exam specification is key to doing well in your SQA National 5 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.
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In the next section, you'll find a simplified summary of the official SQA National 5 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 National 5 Economics (X822 75) 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
The National 5 Economics course provides learners with a broad understanding of how economic choices impact individuals, businesses and governments. It introduces key economic concepts and encourages analysis of contemporary issues, developing informed decision-making and numeracy skills. Candidates learn to interpret data, evaluate economic activity and understand the role of markets both within the UK and globally. The course equips learners for further study in economics or related disciplines and enhances their awareness of how economic factors shape society and personal life:contentReference[oaicite:0]{index=0}.
Subject content breakdown
Economics of the market
- Personal economics: choices in spending, saving, borrowing; budgeting for uncertainty
- Basic economic problem: scarcity, choice, opportunity cost, factors of production
- Demand theory: demand curves, shifts, determinants, utility
- Supply theory: supply curves, shifts, determinants
- Costs, revenue and profit: fixed, variable, total, average costs and revenue
- Markets: equilibrium price, market clearing, impact of demand/supply shifts
UK economic activity
- Government finance: taxation (direct/indirect), spending (current/capital/transfer), circular flow of income
- Government aims: inflation (measurement, causes, effects), unemployment (types, measurement, effects)
- Economic growth: definitions, improving output, standards of living
- Scotland’s role: types of industry, specialisation, contribution to UK economy, Scottish entrepreneurs
Global economic activity
- Global trade: UK imports/exports, trading partners, trade barriers
- Multinationals: definitions, reasons for location choices
- Exchange rates: definitions, impacts on prices, individuals and firms
- Global economy impact: EU/eurozone membership, developing and emerging economies, types of aid:contentReference[oaicite:1]{index=1}
Assessment structure
Question Paper
- Duration: 2 hours
- 90 marks (75% of total)
- Section 1: Two 20-mark stimulus-based questions (graphs/text); assess information handling, application and evaluation
- Section 2: Five 10-mark questions assessing knowledge, understanding and use of diagrams
- All questions mandatory; content drawn from all areas of study
- Marked externally by SQA under exam conditions
Assignment
- Up to 5 hours including research and report writing
- 30 marks (25% of total)
- Candidates select a current economic topic, gather and analyse data, and write a structured report with conclusions
- Examples: oil prices in Aberdeen, housing crisis, minimum wage effects
Report limit: 1300 words; assessed externally
Overall grade based on total combined marks (graded A–D):contentReference[oaicite:2]{index=2}
Key tips for success
Doing well in your SQA National 5 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.
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