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AITCHISON COLLEGE (Senior School) CURRICULUM GUIDE
CURRICULUM GUIDE
ECONOMICS
AIMS
Through the Cambridge International IGCSE Economics
syllabus, learners study how to explain and analyze economic
issues and evaluate economic information.
• The candidates gain lifelong skills of understanding of
economic theory, terminology and principles.
• The ability to apply the tools of economic analysis.
• The ability to distinguish between facts and value
judgments in economic issues.
• It develops an understanding of, and an ability to use,
basic economic numeracy and literacy.
• Economics is valuable not only for the topics it studies,
but also for its methods of analysis.
The processes economists use in constructing models,
analyzing arguments, choosing and testing empirical
predictions against available evidence develop several
important skills. It develops an understanding of the factual
knowledge of economics and the habit of reading critically
to gain information about the changing economy we live in.
It also appreciates the methods of study used by the
economist, and of the most effective ways economic data
may be analyzed, correlated, discussed and presented.
NATURE OF COURSE
The IGCSE syllabus content is divided into eight main
topics. These topics are further divided into many
sub-topics:
1. Basic economic problem: choice and the allocation
of resources
2. The allocation of resources: how the market works;
market failure
3. The individual as producer, consumer and borrower
4. The private firm as producer and employer
5. Role of government in economy
6. Economic indicators
7. Developed and developing economies: trends in
production, population and living standards
8. International aspects Economics graduates develop
their general literacy, communication and numeracy
skills, as well as skills of abstraction, logical deduction
and critical thinking. Skills of discrimination, flexibility
and organizational ability are also enhanced. Economics
combines elements of both science and art.
The AS and A Level syllabus content is divided into five
topic areas:
1. Basic economic ideas and resource allocation
2. The price system and the micro economy
3. Government microeconomic intervention
4. The macro economy
5. Government macroeconomic intervention
ASSESSMENT DETAILS
IGCSE Economics (0455)
For the Cambridge IGCSE in Economics, candidates take two papers each:
• Paper 1: Multiple Choice of 45 minutes
• Paper 2: Structured questions of 2 Hours 15 minutes
A Levels Economics (9708)
For the Cambridge AS Level in Economics, candidates take two papers:
• Paper 1: Multiple Choice of 1 Hour
• Paper 2: Data Response and Essay of 2 Hour
For the Cambridge A Level in Economics, candidates take two papers of AS Level Economics and two additional papers
for A Level Economics:
• Paper 3: Multiple Choice of 1 Hour 15 minutes
• Paper 4: Data Response and Essay of 2 Hours
Paper 3 and Paper 4 test the additional content for the A Level, but also requires a knowledge and understanding of the
AS Level content