Cambridge IGCSE Economics
View Course TimetableTheme 1: The Basic Economic Problem
The Economic Problem (2 lessons)
Explore the economic problem in Economics.
Scarcity: The Basic Economic Problem
Understand why finite resources and unlimited wants cause scarcity for everyone, with examples.
Start LessonWhat, How and For Whom to Produce
Learn the three basic economic questions and the difference between economic goods and free goods.
Start LessonFactors of Production (2 lessons)
Explore factors of production in Economics.
Land, Labour, Capital and Enterprise
Learn the four factors of production and the rent, wages, interest and profit each earns.
Start LessonChanging the Quantity and Quality of Resources
Learn what changes the quantity and quality of land, labour, capital and enterprise.
Unlock Full CourseOpportunity Cost (1 lessons)
Explore opportunity cost in Economics.
Opportunity Cost and Decision-Making
Learn what opportunity cost is and how it shapes decisions by consumers, workers, firms and governments.
Unlock Full CourseProduction Possibility Curves (2 lessons)
Explore production possibility curves in Economics.
Production Possibility Curves
Draw and interpret production possibility curves and calculate opportunity cost when moving along them.
Unlock Full CourseShifts of the PPC and Economic Growth
Explain causes and consequences of PPC shifts, pivots, and how they relate to economic growth.
Unlock Full CourseTheme 2: The Allocation of Resources
The Role of Markets (1 lessons)
Explore the role of markets in Economics.
How Markets Work
Define a market, meet different kinds of market, and see what buyers and sellers each want.
Unlock Full CourseDemand (2 lessons)
Explore demand in Economics.
Demand and the Demand Curve
What demand means, how individual demands make market demand, and drawing the demand curve
Unlock Full CourseMovements Along and Shifts of the Demand Curve
Movements along the demand curve versus shifts, and the causes of increases and decreases in demand
Unlock Full CourseSupply (2 lessons)
Explore supply in Economics.
Supply and the Supply Curve
What supply means, how individual supplies make market supply, and drawing the supply curve
Unlock Full CourseMovements Along and Shifts of the Supply Curve
Movements along the supply curve versus shifts, and the causes of increases and decreases in supply
Unlock Full CoursePrice Determination (3 lessons)
Explore price determination in Economics.
The Price Mechanism
How prices answer what, how and for whom to produce through signalling, incentive and rationing.
Unlock Full CourseMarket Equilibrium
What market equilibrium is and how to find and draw equilibrium price and quantity.
Unlock Full CourseDisequilibrium: Shortages and Surpluses
What market disequilibrium is, how to size shortages and surpluses, and how price returns to equilibrium.
Unlock Full CoursePrice Changes (1 lessons)
Explore price changes in Economics.
Causes and Consequences of Price Changes
How changes in demand and supply cause price changes, and how they affect sales.
Unlock Full CoursePrice Elasticity of Demand (4 lessons)
Explore price elasticity of demand in Economics.
Price Elasticity of Demand: Definition and Calculation
How to define and calculate price elasticity of demand and interpret what the value shows.
Unlock Full CoursePED Diagrams and Determinants
How demand curves show different PED, and what makes demand elastic or inelastic.
Unlock Full CoursePED, Consumer Spending and Firms' Revenue
How price changes affect consumer spending and firms' revenue, linked to PED, with diagrams and calculations.
Unlock Full CourseWhy PED Matters for Decisions
How price elasticity of demand affects the decisions of consumers, workers, firms and governments.
Unlock Full CoursePrice Elasticity of Supply (1 lessons)
Explore price elasticity of supply in Economics.
Price Elasticity of Supply
Price elasticity of supply: calculation, supply curve shapes and what makes supply elastic or inelastic.
Unlock Full CourseMarket Economic System (1 lessons)
Explore market economic system in Economics.
The Market Economic System
The market economic system: how resources are allocated, and its advantages and disadvantages.
Unlock Full CourseMarket Failure (3 lessons)
Explore market failure in Economics.
Market Failure: Costs and Benefits to Society
What market failure is, and how private, external and social costs and benefits cause it.
Unlock Full CoursePublic Goods, Merit Goods, Demerit Goods and Monopoly
Public, merit and demerit goods, free riders and abuse of monopoly power as market failures.
Unlock Full CourseConsequences of Market Failure
What goes wrong and who loses when markets over-consume, under-consume or fail to provide goods.
Unlock Full CourseMixed Economic System (5 lessons)
Explore mixed economic system in Economics.
The Mixed Economic System
How governments and private firms share resource allocation, and the pros and cons compared with markets.
Unlock Full CourseMaximum and Minimum Prices
How maximum and minimum prices work, how to draw them, and their advantages and disadvantages.
Unlock Full CourseIndirect Taxes and Subsidies
How indirect taxes and subsidies shift supply, how to draw them, and their advantages and disadvantages.
Unlock Full CourseRegulation and Direct Provision
What regulation and direct provision are, with examples, advantages and disadvantages of each.
Unlock Full CourseNationalisation, Privatisation and Quotas
What nationalisation, privatisation and quotas are, with advantages and disadvantages of each.
Unlock Full CourseTheme 3: Microeconomic Decision-Makers
Money and Banking (2 lessons)
Explore money and banking in Economics.
Money: Forms, Functions and Characteristics
Learn the forms, functions and characteristics of money and why barter is a problem.
Unlock Full CourseCentral Banks and Commercial Banks
Learn what central banks and commercial banks do and why both matter to an economy.
Unlock Full CourseHouseholds (1 lessons)
Explore households in Economics.
Spending, Saving and Borrowing
Learn how income, interest rates, confidence, age and culture affect households' spending, saving and borrowing.
Unlock Full CourseWorkers (6 lessons)
Explore workers in Economics.
Choosing an Occupation
Learn the wage and non-wage factors people weigh up when choosing an occupation.
Unlock Full CourseWage Determination: Demand and Supply of Labour
Learn what sets wages: demand and supply of labour, and how to draw the diagram.
Unlock Full CourseTrade Unions and the National Minimum Wage
Learn how trade unions and a national minimum wage affect pay and jobs.
Unlock Full CourseWhy Wages Differ
Learn why wages differ between jobs, using demand, supply, skills, sectors, discrimination and policy.
Unlock Full CourseMobility of Labour
Learn why workers find it easy or hard to change job or move, and the results.
Unlock Full CourseDivision of Labour
Learn what division of labour is and weigh its advantages and disadvantages for workers and firms.
Unlock Full CourseFirms (3 lessons)
Explore firms in Economics.
Types of Firms
Sort firms by sector and ownership, and weigh up the advantages of small and large firms.
Unlock Full CourseMergers
Learn horizontal, vertical and conglomerate mergers and weigh up their effects on firms, consumers and workers.
Unlock Full CourseEconomies and Diseconomies of Scale
Learn why growing firms can cut unit costs, and why growing too big raises them.
Unlock Full CourseFirms and Production (2 lessons)
Explore firms and production in Economics.
Demand for Factors and Methods of Production
Learn what changes firms' demand for factors and why they choose labour or capital
Unlock Full CourseProduction and Productivity
Learn the difference between production and productivity, how to calculate it and what raises it
Unlock Full CourseCosts, Revenue and Objectives (2 lessons)
Explore costs, revenue and objectives in Economics.
Costs of Production
Learn the six costs of production, how to calculate them and how cost diagrams look
Unlock Full CourseRevenue and the Objectives of Firms
Learn how firms calculate total and average revenue and why they pursue different objectives
Unlock Full CourseTypes of Markets (2 lessons)
Explore types of markets in Economics.
Competitive Markets
Learn what makes a market competitive and how many firms affect price, quality, choice and profit
Unlock Full CourseMonopoly Markets
Learn what makes a monopoly and how one firm affects price, quality, choice and profit
Unlock Full CourseTheme 4: Government and the Macroeconomy
Macroeconomic Aims (2 lessons)
Explore macroeconomic aims in Economics.
The Government's Macroeconomic Aims
Learn the six macroeconomic aims of government, why they are chosen and how targets are set
Unlock Full CourseConflicts Between Macroeconomic Aims
Learn how macroeconomic aims can conflict and why governments must prioritise between them
Unlock Full CourseFiscal Policy (4 lessons)
Explore fiscal policy in Economics.
The Government Budget and Government Spending
Learn what a government budget is, how to calculate deficits and surpluses, and why governments spend
Unlock Full CourseTaxation: Reasons and Types of Tax
Learn why governments tax and how taxes are classified as progressive, regressive, proportional, direct or indirect
Unlock Full CourseThe Impact of Taxation
Learn how taxes affect consumers, workers, firms, the government, total demand and inequality
Unlock Full CourseFiscal Policy
Learn how changes in taxes and government spending can help a government reach its macroeconomic aims
Unlock Full CourseMonetary Policy (1 lessons)
Explore monetary policy in Economics.
Monetary Policy
How interest rates, money supply and exchange rates help governments reach macroeconomic aims
Unlock Full CourseSupply-Side Policy (2 lessons)
Explore supply-side policy in Economics.
Supply-Side Policy Measures
What supply-side policy is and the seven measures that raise what an economy can produce
Unlock Full CourseSupply-Side Policy and the Macroeconomic Aims
How supply-side policy may help a government reach each of its six macroeconomic aims
Unlock Full CourseEconomic Growth (4 lessons)
Explore economic growth in Economics.
Economic Growth and Real GDP
Define economic growth, measure it with real GDP and calculate a growth rate
Unlock Full CourseCauses and Consequences of Economic Growth
Learn the causes of economic growth and its advantages and disadvantages for a country
Unlock Full CourseRecession
Learn what a recession is, what causes one and how it affects people, firms and governments
Unlock Full CoursePolicies to Promote Economic Growth
Judge how well fiscal, monetary and supply-side policies promote economic growth, and when each works
Unlock Full CourseEmployment and Unemployment (4 lessons)
Explore employment and unemployment in Economics.
Measuring Unemployment
Define employment, unemployment and full employment, and calculate the unemployment rate from labour force data
Unlock Full CourseTypes of Unemployment
Learn the four types of unemployment, their causes and how to tell them apart
Unlock Full CourseConsequences of Unemployment
Learn how unemployment affects individuals, firms, the government and the whole economy.
Unlock Full CoursePolicies to Reduce Unemployment
Learn which policies reduce each type of unemployment and how effective they are.
Unlock Full CourseInflation (4 lessons)
Explore inflation in Economics.
Inflation, Deflation and the CPI
Learn what inflation and deflation are and how the CPI measures inflation using weights.
Unlock Full CourseCauses of Inflation
Learn how demand-pull and cost-push inflation are caused and how to tell them apart.
Unlock Full CourseConsequences of Inflation
Learn who gains and loses from inflation, and how it affects consumers, workers, firms and economies.
Unlock Full CoursePolicies to Control Inflation
Learn which policies control demand-pull and cost-push inflation, how well they work, and their side effects.
Unlock Full CourseTheme 5: Economic Development
Living Standards (2 lessons)
Explore living standards in Economics.
Measuring Living Standards: GDP per Head and HDI
How real GDP per head and the Human Development Index measure living standards
Unlock Full CourseComparing Living Standards and Income Distribution
Why living standards and incomes differ within and between countries, and what income distribution means
Unlock Full CoursePoverty (2 lessons)
Explore poverty in Economics.
Absolute and Relative Poverty
The difference between absolute and relative poverty, and the main causes of poverty
Unlock Full CoursePolicies to Reduce Poverty and Redistribute Income
Six policies that reduce poverty and redistribute income, with how each helps and its drawbacks
Unlock Full CoursePopulation (2 lessons)
Explore population in Economics.
Birth Rates, Death Rates and Migration
How births, deaths and migration change a population, and why they differ between countries
Unlock Full CourseChanges in Population Size and Structure
Optimum population and how changes in population size, age and gender affect workers, firms and government
Unlock Full CourseDifferences Between Countries (2 lessons)
Explore differences between countries in Economics.
Development Gaps: Income, Productivity, Population and Sectors
Causes and consequences of country differences in income, productivity, population growth and sector size
Unlock Full CourseDevelopment Gaps: Saving, Education, Healthcare and Resources
Causes and consequences of differences in saving, investment, education, healthcare and natural resources between countries
Unlock Full CourseTheme 6: International Trade and Globalisation
Specialisation and Free Trade (2 lessons)
Explore specialisation and free trade in Economics.
Specialisation by Country
What specialisation by country is, why countries do it, and its advantages and disadvantages
Unlock Full CourseFree Trade
What free trade is, and its advantages and disadvantages for consumers, firms and countries
Unlock Full CourseGlobalisation and Trade Restrictions (5 lessons)
Explore globalisation and trade restrictions in Economics.
Globalisation: Causes and Effects
What globalisation is, what causes it to change, and how it affects trade, jobs and development
Unlock Full CourseMultinational Companies
What multinational companies are and their advantages and disadvantages to host and home countries
Unlock Full CourseMethods of Protection
What trade restrictions are and how tariffs, import quotas, subsidies and embargoes each work
Unlock Full CourseReasons for Trade Restrictions
Eight reasons governments restrict trade, from protecting industries to raising tax revenue and the environment
Unlock Full CourseConsequences of Trade Restrictions
Who gains and loses when a country restricts imports, including retaliation and overall advantages
Unlock Full CourseForeign Exchange Rates (3 lessons)
Explore foreign exchange rates in Economics.
Exchange Rates and Why Currencies Are Traded
What an exchange rate is, how to convert prices, and why currencies are traded
Unlock Full CourseHow Exchange Rates Are Determined
How demand and supply set exchange rates, and what makes a currency appreciate or depreciate
Unlock Full CourseEffects of Exchange Rate Changes
How exchange rate changes alter export and import prices, demand, and effects on firms and consumers
Unlock Full CourseCurrent Account of the Balance of Payments (3 lessons)
Explore current account of the balance of payments in Economics.
The Current Account
The four parts of the current account with examples, and how to calculate deficits and surpluses
Unlock Full CourseCurrent Account Deficits and Surpluses
Why countries run current account deficits or surpluses, and the effects on the economy
Unlock Full CoursePolicies for Balance of Payments Stability
Policies to cut a current account deficit, how effective each is, and their side effects
Unlock Full CourseTheme 7: Exam Skills
Exam Skills (2 lessons)
Explore exam skills in Economics.
How the Exams Work and What Examiners Reward
How both papers are set out, what examiners reward and how to plan your time
Unlock Full CourseCommand Words and Exam Technique
Learn what each command word asks for and how to write explain, analyse and discuss answers
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