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Welcome to IGCSE-GCSE Economics Section

This section is specifically written for Cambridge IGCSE Economics Syllabus 0455. However, students and teachers from other curriculum will find this section equally useful as most of the topics covered here are common. All GCSCs from various Examination Boards such as EDEXCEL, AQA, CECA  and others will find it equally useful.

The syllabus has been divided into the following themes. The topics covered and learning outcomes are given in these themes so everybody can find something of interest here. There are revision notes, interactive quizzes, worksheets, case studies and lot of interesting stuff.

Syllabus IGCSE Economics Code 0455

The syllabus can be downloaded from the CIE website

For your convenience, here are online versions of the syllabuses shown from the CIE website via the Google Docs viewer (pick the one that relates to the year that you will sit your IGCSE exam):

Syllabus at a Glance

Section  Topics

1.  Basic economic problem: choice and the allocation of resources

• economic problem

• factors of production

• opportunity cost

• resource allocation

• choice

• production possibility curves.

2. The allocation of resources: how the market works; market failure

• market and mixed economic systems

• demand and supply analysis

• price elasticity

• market failure

• social and private costs and benefits.

3. The individual as producer,

consumer and borrower

• functions of money

• exchange

• central banks, stock exchanges and commercial banks

• labour market

• motives for spending, saving and borrowing.

4. The private firm as producer and employer

• types and sizes of business organisation

• demand for factors of production

• costs and revenue

• profit maximisation and other business goals

• perfect competition

• monopoly

• advantages and disadvantages of increased scale.

5. Role of government in economy

• government as a producer and an employer

• aims of government economic policy

• fiscal, monetary and supply-side policies

• types of taxation

• possible policy conflicts

• government’s influence on private producers.

6. Economic indicators

• price indices

• inflation and deflation

• employment and unemployment

• GDP, economic growth and recession

• GDP and other measures of living standards.

7. Developed and developing economies: trends in production, population and living standards

• developed and developing countries

• absolute and relative poverty

• alleviating poverty

• population growth

• differences in living standards

  

Assessment Objectives

Cambridge IGCSE Economics [ Syllabus code 0455]  For examination in and after June and November 2009

A KNOWLEDGE WITH UNDERSTANDING

Students should be able to demonstrate their knowledge and understanding in relation to:

1. economic facts, definitions, concepts, principles and theories;

2. economic vocabulary and terminology.

B ANALYSIS

Students should be able to:
3. select, organise and interpret data;
4. apply economic knowledge and understanding in verbal, numerical, diagrammatic, pictorial and graphical form;
5. use economic data, to recognise patterns in such data, and to deduce relationships.

C JUDGEMENT AND DECISION MAKING

Students should be able to:
6. distinguish between evidence and opinion, make reasoned judgements and communicate them in an accurate and logical manner;
7. recognise that economic theory is subject to various limitations and uncertainties;
8. evaluate the social and environmental implications of particular courses of economic action.

D CRITICAL EVALUATION

Students should be able to:
9. draw conclusions from economic information and critically evaluate economic data;
10. communicate conclusions in a logical and concise manner.

Scheme of Assessment

Cambridge IGCSE Economics [ Syllabus code 0455]  For examination in and afterJune and November 2009

The assessment has two components, Paper 1: Multiple choice and Paper 2: Structured questions.

Candidates must take both papers. Candidates receive grades from A* to G.

Paper 1 Multiple choice 45 minutes

Candidates answer 30 multiple choice questions.

Weighted at 30% of total available marks.

Paper 2 Structured questions 2 hours 15 minutes

Candidates answer one compulsory question, which requires them to interpret and analyse previously unseen data relevant to a real economic situation, and three optional questions from a choice of six.

Weighted at 70% of total available marks.

Past Year Exam Papers

Past Papers (IGCSE Economics Code 0455)

We cannot provide past papers for you through this site since CIE owns the copyright to these documents.
However, some past exam papers (theory and practical) along with mark schemes can be downloaded from the CIE open site.
At the moment the following papers and mark schemes are available from the CIE website (clicking a link will open the document up from the CIE website in an online Google Docs viewer):