IGCSE Economics
IGCSE Economics students gain an understanding of economic theory, terminology, and principles. Students in this course learn about different countries’ economic strategies, as well as their interdependence and impact on the global economy. Students also learn how to process various types of economic data using economic data analysis tools.
The IGCSE Economics syllabus consists of 6 topics which are:
- The Basic Economic Problem
- The Allocation of Resources
- Microeconomic Decision Makers
- Government and The Macroeconomy
- Economic Development
- International Trade and Globalization
The syllabus includes and develops the ability to use basic economic numeracy and literacy which helps in the daily decision-making process, uses examples from a variety of economies, and lays an excellent foundation for advanced study in economics. The primary goal of the course is to develop an understanding ability to process economic data and literacy to draw the correct conclusions. This course also serves as a solid foundation for furthering one’s studies in economics.
Syllabus at a Glance
| Section | Topics |
| Choice and resource allocation are fundamental economic problems. |
|
| The allocation of resources; the operation of the market; market failure |
|
| Individuals act as producers, consumers, and borrowers. |
|
| As a producer and employer, the private firm |
|
| The Government’s Role in the Economy |
|
| Indicators of the economy |
|
| Developed and developing economies: production, population, and living standards trends |
|
Assessment Objectives
1. Knowledge with Understanding
Students should be able to demonstrate their knowledge and understanding in relation to:
economic facts, definitions, concepts, principles, and theories;
economic vocabulary and terminology.
2. Analysis
Students should be able to:
select, organise and interpret data;
apply economic knowledge and understanding in verbal, numerical, diagrammatic, pictorial and graphical form;
use economic data, to recognise patterns in such data, and to deduce relationships.
3. Judgement and Decision Making
Students should be able to:
distinguish between evidence and opinion, make reasoned judgements and communicate them in an accurate and logical manner;
recognise that economic theory is subject to various limitations and uncertainties;
evaluate the social and environmental implications of particular courses of economic action.
4. Critical Evaluation
Students should be able to:
draw conclusions from economic information and critically evaluate economic data;
communicate conclusions in a logical and concise manner.
Planning to Prepare for IGCSE Economics?
Scheme of Assessment
The assessment consists of two parts: Paper 1 (multiple choice) and Paper 2 (structured questions).
Both papers must be taken by candidates. Candidates are graded on a scale of A* to G.
45 minutes for Paper 1 Multiple Choice
- Candidates must respond to 30 multiple-choice questions.
- 30% of total available marks are weighted.
2 hours 15 minutes for paper 2 structured questions
- Candidates must answer one mandatory question that requires them to interpret and analyse previously unseen data relevant to a real-world economic situation, as well as three optional questions from a set of six.
- 70% of the total available marks are weighted.
