IGCSE Economics (2028 exam) – Term 2 (Jan. 2027)

Course Overview

This course covers the content for the Cambridge International Specifications in Economics. If agreed with the Teacher, and for a good reason, it would be possible to sit another board. This is a two-year course, giving students time to grow into the role of thinking like an economist. Students need to commit to working hard and meeting regular homework expectations. Students must already have a reasonable competency in Maths and English comparable to GCSE/IGCSE standard. Also essential is an interest in current affairs as students are expected to watch or read the news on a regular basis. Students who work hard will develop a competent understanding of the workings of an economy, both at a micro- and macroeconomic level. Success at IGCSE level opens a door to AS- and A-Level Economics as well as other subjects such as Business Studies and Politics.

Course Method

Comprehensive class notes and flash cards are distributed to students. Homework is set on a weekly basis and self-marked. Tests compiled from past exam papers are set on completion of each topic and are marked by the Teacher.

Lessons are interactive, focusing on achieving excellent understanding of the course content, developing good economic methodology, and developing the critical and analytical thinking skills necessary for further study in Economics. Students are expected to learn to communicate ideas clearly, both on paper and orally, and to critically assess the worldview assumptions that underpin the contemporary study of Economics.

The following topics are covered (Key Units and Topics (0455/0987):

• Unit 1: The Basic Economic Problem: Covers scarcity, factors of production, opportunity cost, and production possibility curves.
• Unit 2: The Allocation of Resources: Examines how markets work (demand/supply), price mechanisms, price elasticity, market failures, and government intervention.
• Unit 3: Microeconomic Decision-Makers: Covers money/banking, households, workers, trade unions, and firms.
• Unit 4: Government and the Macroeconomy: Focuses on government roles, objectives (inflation, employment), fiscal/monetary policy, and economic growth.
• Unit 5: Economic Development: Explores living standards, poverty, population changes, and the differences between developing and developed economies.
• Unit 6: International Trade and Globalisation: Covers trade specialisation, trade protection, foreign exchange rates, and international economic issues.

Exam Structure (2027–2029 Syllabus):

• Paper 1 (Multiple Choice): 1 hour 15 minutes, 30% of total marks.
• Paper 2 (Structured Questions): 2 hours, 70% of total marks.

Course Details

Term 2 comprises 28 lessons (two per week for 14 weeks). Each lesson lasts one hour.

This PX Classroom is held on Mondays at 2pm and Tuesdays at 8am (London time zone), starting from Monday, 4th January 2027. There will be no lessons during the half-term week beginning 15th February. The last lesson is due to be on 13th April 2027.