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IGCSE Economics

Exam Board: Pearson Edexcel

IGCSE Economics offers a comprehensive introduction to the subject, providing pupils with a well-rounded foundation for advanced study. Through the course, pupils develop the ability to explain and evaluate economic problems and potential solutions, fostering an economist's mindset and cultivating logical thinking and reasoning skills. They also learn to effectively utilise economic data from diverse sources such as tables, charts, and graphs, enabling them to make informed judgments and communicate ideas clearly and succinctly. These transferable skills are valuable assets for further academic pursuits and future employment. Economics is highly regarded by universities and employers, with economics degrees being identified as the second most financially rewarding degrees, after Medicine, both five and ten years after graduation. However, the study of economics also provides advantages across various career paths in the private, public, or charity sectors.


The IGCSE Economics course spans two years and covers both microeconomics and macroeconomics. In the first year, pupils focus on microeconomics, exploring introductory topics, the role of markets, and the importance of money. The second year transitions to macroeconomics, delving into economic objectives, the role of government, international trade, and the global economy.


Year 1 of the course covers the following key areas of study:

  • Main economic groups and factors of production

  • The basic economic problem

  • The role of markets

  • Demand

  • Supply

  • Price

  • Competition

  • Production

  • The labour market

  • The role of money and financial markets


Year 2 of the course focuses on the following key areas of study:

  • Economic growth

  • Unemployment

  • Inequality

  • Inflation

  • Fiscal policy

  • Monetary policy

  • Supply-side policy

  • Limitations of markets

  • International trade

  • Balance of payments

  • Exchange rates

  • Globalisation


IGCSE Economics is suitable for individuals with an interest in current affairs and a desire to deepen their understanding of how the world operates. pupils with specific interests in business, human geography, or politics may find this course particularly appealing. It empowers pupils to become better-informed and responsible citizens, consumers, and producers, enabling them to develop an awareness of the economic dimensions that shape our lives. This knowledge equips them to make more confident economic choices related to their personal and professional lives.

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