Economics IGCSE (CIE Syllabus 0455)

What will I learn on this IGCSE course?

Economics is a subject which provides students with understanding and knowledge of the economic problems faced by businesses and countries and allows critical understanding and application of solutions to real world scenarios. The course is designed to address all aspects of economic decision making and specifically answers the following questions:

 What is the most effective way to allocate resources in an economy?

 How are the prices of goods and services determined?

 What role do consumers and producers play in a market?

 What is the role of the government in an economy?

 How do countries trade with one another?

This course considers a wide variety of economic issues in a real world context. Students will gain a valuable insight into economic decision making by applying economic theories to a wide range of case studies obtained from a variety of sources.

What do I need to know or be able to do before taking this course?

Economics is a subject which will be new to all students who join the course and therefore no prior knowledge is required. However, students who hold an interest in current affairs, who are able to think logically about problems and alternative solutions, and who can communicate these effectively with others, are likely to benefit most from the course.

Economics IGCSE is a challenging course and students should be reasonably numerate and should be expecting to receive good grades in English and Mathematics. The syllabus has been updated for exams in 2021 and now reflects some of the new economic thinking of the past 10 years e.g. sustainable growth.

How will I be assessed?

The course will be assessed by means of two written papers, one of which is a multiple choice paper and the other is a structured response paper which relates to unseen economic data. These are designed to assess the ability of students to apply their knowledge and understanding to real world scenarios.

What kind of student is this course suitable for?

This course will appeal to you if you:

 Enjoy a subject which is practical, relevant and realistic.

 Hold a genuine interest in what is happening in the world around you.

 Wish to understand the importance of consumers, producers and the government.

 Want to improve your numeracy, data handling and communication skills.