Economics 0455 syllabus and exam overview

Economics 0455

Module	Skill Area	Focus Areas
1. The basic economic problem	Knowledge & Understanding	* Economic scarcity and choice * Factors of production * Opportunity cost * Production possibility curves
2. Allocation of resources	Application & Analysis	* Micro vs macroeconomics * Price mechanism * Demand and supply * Market equilibrium and disequilibrium
3. Microeconomic decision makers	Analysis & Evaluation	* Money and banking * Roles of consumers, firms, government * Market structures
4. Government and the macroeconomy	Synthesis & Application	* Macroeconomic aims * Fiscal and monetary policies * Inflation and unemployment * Economic growth and cycles
5. Economic development	Evaluation & Application	* Development indicators * Policies to promote development * Income distribution and poverty
6. International trade and globalisation	Analysis & Evaluation	* Trade benefits * Exchange rates * Balance of payments * Impact of globalisation

Note: This syllabus emphasises economic reasoning and analytical skills, supporting the application of theory to real-world contexts.

Cambridge IGCSE Economics is assessed through two examination papers, both externally assessed.

Item	Paper 1 – Multiple Choice	Paper 2 – Structured Questions
Paper Type	Multiple-choice exam	Written structured questions
Duration	45 minutes	2 hours 15 minutes
Marks	30 marks	90 marks
Weighting	30%	70%
Skills Assessed	Basic recall, definitions, application of concepts	Analysis, interpretation of data, evaluation and written explanation

Key Features of Assessment:

Paper 1 tests understanding of core definitions, concepts and basic economic relationships using 30 multiple-choice questions.

Paper 2 consists of structured questions requiring written responses, data analysis and application of economic theory to scenarios.

Candidates are eligible for grades A*–G based on combined performance in both papers.