Pearson Edexcel IGCSE Economics
View Course TimetableTheme 1: The Market System
The Economic Problem (4 lessons)
Explore the economic problem in Economics.
Scarcity: The Basic Economic Problem
Learn what economics studies, why scarcity is the basic problem, and why it forces choices.
Start LessonOpportunity Cost
Learn what opportunity cost is and how it affects consumers, producers and the government.
Start LessonProduction Possibility Curves
Learn to draw a production possibility curve and use it to show choices and opportunity cost.
Start LessonEconomic Growth and Shifting the PPF
How the production possibility frontier shifts to show economic growth, and what causes it.
Unlock Full CourseEconomic Assumptions (1 lessons)
Explore economic assumptions in Economics.
Do Consumers and Firms Always Maximise?
Why economists assume consumers maximise benefit and firms maximise profit, and why real life differs.
Unlock Full CourseDemand, Supply and Equilibrium (6 lessons)
Explore demand, supply and equilibrium in Economics.
Demand and the Demand Curve
Learn what demand means, draw a demand curve, and tell movements along it from shifts.
Unlock Full CourseWhat Shifts the Demand Curve
Learn the six factors that shift the demand curve and which way each one moves it.
Unlock Full CourseSupply and the Supply Curve
Learn what supply means, draw a supply curve, and tell movements along it from shifts.
Unlock Full CourseWhat Shifts the Supply Curve
Learn the five factors that shift the supply curve and which way each one moves it.
Unlock Full CourseMarket Equilibrium
Learn how demand and supply set the market price and quantity, and how shifts change them.
Unlock Full CourseExcess Demand, Excess Supply and Market Forces
Learn what happens when prices are too high or too low and how markets fix it.
Unlock Full CourseElasticity (7 lessons)
Explore elasticity in Economics.
Price Elasticity of Demand: Calculating PED
Learn how to calculate price elasticity of demand and read what the number means.
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Draw price elastic and inelastic demand diagrams and explain what makes PED high or low.
Unlock Full CoursePED and Total Revenue
Use total revenue changes after a price change to tell elastic from inelastic demand.
Unlock Full CoursePrice Elasticity of Supply
Calculate price elasticity of supply, read values from zero to infinity and draw supply diagrams.
Unlock Full CourseWhat Affects PES
Learn what makes supply elastic or inelastic and compare manufactured and primary products.
Unlock Full CourseIncome Elasticity of Demand
Learn to calculate income elasticity of demand and tell luxury, normal and inferior goods apart.
Unlock Full CourseWhy Elasticity Matters to Business and Government
See how PED decides who pays indirect taxes and how YED helps firms and governments plan.
Unlock Full CourseThe Mixed Economy (4 lessons)
Explore the mixed economy in Economics.
The Mixed Economy: Public and Private Sectors
Learn what a mixed economy is and how public and private sectors differ.
Unlock Full CourseMarket Failure and Public Goods
Learn what market failure is, why governments intervene, and why public goods cause free riders.
Unlock Full CourseWho Produces What: Public and Private Sectors Compared
Learn what the public and private sectors produce and how market-led and state-led economies compare.
Unlock Full CoursePrivatisation
Learn what privatisation is and how it affects consumers, workers, businesses and governments.
Unlock Full CourseExternalities (1 lessons)
Explore externalities in Economics.
Externalities: Social Costs and Benefits
Learn what external costs and benefits are, and how to calculate social costs and benefits.
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Production (2 lessons)
Explore production in Economics.
The Factors of Production
Learn the four factors of production and the reward each one earns.
Unlock Full CoursePrimary, Secondary and Tertiary Sectors
Learn the primary, secondary and tertiary sectors and how their importance changes as economies develop.
Unlock Full CourseProductivity (2 lessons)
Explore productivity in Economics.
Productivity
Learn what productivity is, how to calculate it, and what raises it for land, labour, capital
Unlock Full CourseThe Division of Labour
Learn what the division of labour is and its advantages and disadvantages for workers and businesses
Unlock Full CourseCosts, Revenue and Profit (3 lessons)
Explore costs, revenue and profit in Economics.
Costs, Revenue and Profit
Learn fixed and variable costs, total and average costs, revenue and profit, with cost table calculations
Unlock Full CourseInternal Economies of Scale
Learn economies of scale and the six internal types: purchasing, marketing, technical, financial, managerial, risk bearing
Unlock Full CourseExternal Economies and Diseconomies of Scale
Learn external economies, diseconomies of scale and how the LRAC curve shows the most efficient output
Unlock Full CourseBusiness Competition (4 lessons)
Explore business competition in Economics.
Competition: Good or Bad?
Learn how competition affects efficiency, choice, quality, innovation and price for firms, consumers and the economy
Unlock Full CourseLarge Firms, Small Firms and Growth
Compare large and small firms, what helps firms grow and why some firms stay small
Unlock Full CourseMonopoly
Learn what a monopoly is, its features, barriers to entry, advantages and disadvantages
Unlock Full CourseOligopoly
Learn what an oligopoly is, its features, advantages, disadvantages, cartels and price wars
Unlock Full CourseThe Labour Market (3 lessons)
Explore the labour market in Economics.
Demand for and Supply of Labour
Learn what changes firms' demand for labour and workers' supply of labour, from machines to mobility
Unlock Full CourseLabour Quality and Human Capital
Learn why quantity and quality of labour matter and how education and training build human capital
Unlock Full CourseWage Diagrams and Trade Unions
Draw labour market diagrams, see how shifts change wages, and learn about trade unions
Unlock Full CourseGovernment Intervention (3 lessons)
Explore government intervention in Economics.
Government Policies for Externalities
Taxes, subsidies, fines, regulation and pollution permits: how they work, and their pros and cons
Unlock Full CourseRegulating Competition
How governments regulate competition, limit monopoly power, protect consumers and control mergers
Unlock Full CourseThe Minimum Wage
Why governments set a minimum wage, its pros and cons, and drawing it
Unlock Full CourseTheme 3: Government and the Economy
Economic Growth (3 lessons)
Explore economic growth in Economics.
Economic Growth and GDP
What economic growth is, how GDP and growth rates measure it, and why GDP is limited
Unlock Full CourseThe Economic Cycle
The four stages of the economic cycle and their effects on growth, inflation and unemployment
Unlock Full CourseThe Impact of Economic Growth
The benefits and costs of economic growth for jobs, living standards, poverty, inflation and environment
Unlock Full CourseInflation (3 lessons)
Explore inflation in Economics.
Inflation, Deflation and the CPI
What inflation and deflation mean and how the consumer price index measures price changes
Unlock Full CourseCauses of Inflation and Interest Rates
Why prices rise: demand-pull and cost-push inflation, and how higher interest rates reduce inflation
Unlock Full CourseThe Impact of Inflation
How inflation affects prices, real wages, exports, jobs, business costs, confidence and investment
Unlock Full CourseUnemployment (2 lessons)
Explore unemployment in Economics.
Measuring Unemployment and Its Types
What unemployment is, the ILO measure, calculating the unemployment rate and the five types
Unlock Full CourseThe Impact of Unemployment
How unemployment affects output, resources, poverty, government finances, confidence and society
Unlock Full CourseBalance of Payments (2 lessons)
Explore balance of payments in Economics.
The Current Account
What the current account is, visibles and invisibles, and calculating surpluses and deficits
Unlock Full CourseCurrent Account Deficits: Causes and Effects
How exchange rates affect the current account, why deficits and surpluses happen, and what deficits cost
Unlock Full CourseEnvironment and Equality (2 lessons)
Explore environment and equality in Economics.
Protecting the Environment and Government Controls
Types of pollution and the pros and cons of government environmental controls
Unlock Full CourseInequality and Poverty
Income inequality, absolute and relative poverty, and how governments redistribute income using tax, benefits and spending
Unlock Full CourseGovernment Policies (5 lessons)
Explore government policies in Economics.
Fiscal Policy: Taxes and Spending
What fiscal policy is, how direct and indirect taxes raise revenue, where governments spend
Unlock Full CourseFiscal Deficits, Surpluses and Their Impact
Fiscal deficits and surpluses, how to calculate them, and how fiscal policy affects the economy
Unlock Full CourseMonetary Policy and Interest Rates
How central banks set interest rates and how rate changes affect consumers, businesses and inflation
Unlock Full CourseSupply-Side Policies
What supply-side policy is, six ways to raise productivity and output, and their effects on objectives
Unlock Full CourseTrade-Offs Between Objectives
How policies create trade-offs between macroeconomic objectives and how to decide which to prioritise
Unlock Full CourseTheme 4: The Global Economy
Globalisation (3 lessons)
Explore globalisation in Economics.
Globalisation and Why It Happened
What globalisation is and the four reasons it has grown across the world
Unlock Full CourseThe Impact of Globalisation
How globalisation affects living standards, choice, prices, jobs, governments and the environment
Unlock Full CourseMultinationals and Foreign Direct Investment
What multinationals and FDI are, why they emerge, and their pros and cons for host countries
Unlock Full CourseInternational Trade (4 lessons)
Explore international trade in Economics.
Free Trade
What free trade is, and its advantages and disadvantages for consumers, businesses and workers
Unlock Full CourseWhy Countries Protect Their Industries
Why governments protect industries: dumping, jobs, infant industries, tariff revenue, safety, deficits and retaliation
Unlock Full CourseTariffs, Quotas and Subsidies
Tariffs, quotas and subsidies: how each protects industries, pros and cons, and drawing their diagrams
Unlock Full CourseTrading Blocs, the WTO and Trade Patterns
Trading blocs, the WTO and the trade patterns of developed and developing countries explained simply
Unlock Full CourseExchange Rates (2 lessons)
Explore exchange rates in Economics.
Exchange Rates and How They Are Set
Exchange rates, converting currencies and what moves a currency's demand and supply, with diagrams
Unlock Full CourseAppreciation and Depreciation
Appreciation, depreciation, revaluation and devaluation, and their effects on trade prices and the current account
Unlock Full CourseTheme 5: Exam Skills
Exam Skills (1 lessons)
Explore exam skills in Economics.
How the Exams Work and What Examiners Reward
How the two papers work, the four assessment objectives, question technique and a timing plan
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