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IGCSE Economics

The Cambridge IGCSE Economics syllabus develops an understanding of economic theory, terminology and principles. Learners study the economics of different countries and how these interrelate. They also learn to work with simple economics data and to use the tools of economic analysis. Learners apply understanding of economics to current economic issues.

Key Learnings:

• Use basic economic numeracy and interpret economic data
• Use the tools of economic analysis
• Express economic ideas logically and clearly in a written form
• Apply economic understanding to current economic issues

Course Content

Module 1;The basic economic problem
The first section of the syllabus introduces the fundamental ideas and concepts that underpin the study of
economics including the basic economic problem, factors of production, opportunity cost and production
possibility curves.

 Module2 The allocation of resources
The fundamental principles of resource allocation are considered through the price mechanism in a market
economy. The market forces of demand and supply, market equilibrium and disequilibrium, and elasticity form
the core of this section.

Module3 Microeconomic decision makers
The microeconomy is an important area of study, and the approach to learning taken here is through the role of
the major decision makers: banks, households, workers, trade unions and firms.

Module4 Government and the macroeconomy
Governments have different macroeconomic aims, and conflicts often arise between the choice of measures
used to achieve them. Variables must be measured to consider the causes and consequences of change, and
appropriate policies applied.

Module5 Economic development
As an economy develops there will be changes in population, living standards, poverty and income
redistribution. Therefore, the effects of changes in the size and structure of population and of other influences
on development in a variety of countries are explored.

Module6 International trade and globalisation
The importance of trade between countries and the growth of globalisation is explored. Principles such as
specialisation, the role of free trade, the role of multinational companies, foreign exchange rates and balance of
payments stability are considered.

Assessment overview
All candidates take two components. Candidates will be eligible for grades A* to G.
All candidates take: and:
Paper 1 45 minutes
Multiple Choice 30%
30 marks
Candidates answer all 30 questions
Externally assessed

Paper 2 2 hours 15 minutes
Structured Questions 70%
90 marks
Candidates answer one compulsory question and
three questions from a choice of four