ECONOMICS COURSEWORK

Economics coursework

Economics coursework

Scotland is a country whose economy seems to be closely related to that of United Kingdom's as well as the wider demography of the European Union. Being a fairly large country, the buying decisions of the citizens of Scotland matter to that of surrounding countries and often it is ranked as having the second largest GVA per capita. However, it is still fairly lower than that of United Kingdom's average if the whole nation is calculated. The revenue that is generated from the North Sea oil and gas lines is not considered a part of these figures which may cause an alternate ranking. There is a larger budget surplus in Scotland if the country's oil and gas lines are considered. Scotland was once known to be one of the industrial superpowers in Europe, especially since the industrial revolution seemed to stem from Manchester in the United Kingdom and spread to these far off countries in quite a short amount of time. The economic history of Scotland has been much the same as the UK but there have been differences in the major industries of the nation. Furthermore, there are manufacturing industries that originated in Scotland that made it across the ocean to the far off lands, thus stabilizing the earlier economy of the country.

The country became a world leader in manufacturing industries at one point in history, and has left a long legacy of goods and services that are so diverse they are able to fulfill the needs of various regions of the world. The economy of Scotland is known to produce original textiles as well as whiskey, shortbread toaeroengines, computer equipment, software, ships, transportation, avionics, insurance management, fund management, microelectronics and banking. It has thrived in so many industries that it is quite easy to imagine how strong its place had become earlier in history in terms of economics. The country had become a beacon and an inspiration to other countries in terms of financial services at one point, and a lot of the current baking practices can be traced back to Scotland's historical landmarks. Its national banks are now operating internationally; the Royal Bank of Scotland is one of these.

In terms of economy, there seems to be a statistical war that is highlighting the flaws in Scotland's future financial implications. The Government Expenditure as well as Revenue is Scotland seems to be looking for a calculation that reflects the UK revenue that is raised within Scotland alone, and the amount of spending done in Scotland. The profit and loss accounts of the country are measured by GERS and are usually particularly drawn up in midsummer. The figures that Scotland goes through within a year are available for perusal online and are more geared towards the independent referendum rather than particular industries. There are particular figures within the Scotland economic diaries that go through the measurement of the country's GDP without having any factors included within the United Kingdom and ...