IGCSE (Year 10–11)
Full Cambridge IGCSE Economics specification.
💰 Microeconomics
The Basic Economic Problem
Scarcity, choice, opportunity cost, and the factors of production.
Demand
The law of demand, determinants, elasticity introduction.
Supply
The law of supply, determinants, and shifts in supply.
Market Equilibrium
How markets clear, surpluses, shortages, and price changes.
Price Elasticity of Demand
PED formula, elastic vs inelastic demand, revenue implications.
Price Elasticity of Supply
PES formula, elastic vs inelastic supply, determinants.
Income & Cross Elasticity
YED and XED — how income and related goods affect demand.
Market Failure
When markets produce inefficient outcomes — externalities and public goods.
Externalities
Positive and negative externalities, social costs, and benefits.
Government Intervention
Taxes, subsidies, price controls, regulation, and their effects.
Labour Markets
Demand and supply of labour, wages, trade unions, and minimum wage.
📈 Macroeconomics
GDP and Economic Growth
Measuring GDP, real vs nominal, causes and benefits of growth.
Inflation IGCSE
CPI calculation, demand-pull, cost-push, effects and policies.
Unemployment IGCSE
Cyclical, structural, frictional, seasonal — causes and remedies.
Fiscal and Monetary Policy
Government budgets, central bank tools, and policy trade-offs.
Development Economics
HDI, poverty, inequality, and strategies for development.