Economics 0455
About Course
Cambridge IGCSE™ Economics (0455) is an internationally recognised qualification designed primarily for learners aged 14–16 years, although it is also suitable for students of other ages. The course develops a solid understanding of economic principles and decision-making and is widely accepted by universities and employers worldwide. No previous study of Economics is expected, although learners are recommended to have completed a broad lower secondary curriculum. The qualification is typically completed over 9–12 months, assessed through two examination papers, and is normally completed in a single examination series.
Throughout this course, you will explore how individuals, businesses and governments make economic decisions in a world of limited resources. You will study topics such as markets, demand and supply, firms, government policies, economic development, international trade and globalisation while developing analytical, numerical and evaluation skills. You will apply economic concepts to real-world situations, interpret data, evaluate policies and communicate reasoned arguments. These skills provide an excellent foundation for advanced study in Economics, Business, Finance, Politics and related university programmes, while also supporting future careers in business, banking, government, entrepreneurship, consultancy and international organisations.
At Polymath Institute, your study partner, you will learn through a structured digital learning platform designed around the official Cambridge syllabus. You will benefit from syllabus-aligned video lessons, guided practice, topic exercises, quizzes, assessments, past paper practice, mock examinations, focused revision sessions and continuous progress tracking. With 24/7 tutoring support, you can study at your own pace, revisit challenging concepts, strengthen weaker areas and monitor your examination readiness throughout the course. Our learning approach helps you build confidence, prepare for higher grades and understand how economic knowledge connects to university studies and future career opportunities.
What Will You Learn?
- Explain fundamental economic concepts using accurate terminology.
- Analyse market behaviour using demand, supply and elasticity.
- Evaluate government policies affecting national and global economies.
- Apply economic reasoning to real-world and contemporary issues.
- Interpret economic data, diagrams and quantitative information confidently.
- Demonstrate effective examination techniques through past papers and mock exams.
- Develop analytical, communication and decision-making skills for higher achievement.
- Prepare confidently for advanced Economics studies and related professional pathways.
Course Content
Syllabus Overview – Economics 0455 (IGCSE™)
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Course Introduction
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Textbooks and resources
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Set your study goals and strategy
Module 01: The basic economic problem
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1.1 The nature of the economic problem
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1.2 The factors of production
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1.3 Opportunity cost
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1.4 Production possibility curve (PPC) diagrams
Module 02: The allocation of resources
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2.1 Microeconomics & macroeconomics
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2.2 The role of markets in allocating resources
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2.3 Demand
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2.4 Supply
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2.5 Price determination
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2.6 Price changes
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2.7 Price elasticity of demand (PED)
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2.8 Price elasticity of supply (PES)
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2.9 Market economic system
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2.10 Market failure
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2.11 Mixed economic system
Module 03: Microeconomic decision makers
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3.1 Money & banking
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3.2 Households
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3.3 Workers
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3.4 Trade unions
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3.5 Firms
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3.6 Firms & production
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3.7 Firms’ costs, revenue & objectives
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3.8 Market structure
Module 04: Government & the macroeconomy
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4.1 The role of government
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4.2 The macroeconomic aims of government
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4.3 Fiscal policy
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4.4 Monetary policy
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4.5 Supply-side policy
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4.6 Economic growth
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4.7 Employment & unemployment
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4.8 Inflation & deflation
Module 05: Economic development
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5.1 Living standards
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5.2 Poverty
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5.3 Population
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5.4 Differences in economic development between countries
Module 06: International trade & globalisation
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6.1 International specialisation
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6.2 Globalisation, free trade & protection
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6.3 Foreign exchange rates
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6.4 Current account of balance of payments