Economics 9708 – Polymath Institute

About Course

Cambridge International AS & A Level Economics is designed for learners aged approximately 16–19 who wish to develop a clear and structured understanding of how economies operate at both national and international levels. The course introduces learners to economic concepts, theories, and models that explain how individuals, firms, and governments make decisions in the presence of scarcity.

At AS Level, learners build a foundation in microeconomics and macroeconomics, focusing on core principles such as resource allocation, market behaviour, economic objectives, and policy tools. These concepts are introduced in a logical sequence, enabling learners to describe and analyse economic issues using appropriate terminology and diagrams.

The full A Level extends this learning by requiring greater depth of analysis and evaluation. Learners explore more complex market structures, labour markets, market failure, macroeconomic policy effectiveness, and international and development economics. Emphasis is placed on applying theory to real-world contexts and assessing the strengths and limitations of economic policies.

The syllabus develops skills in data interpretation, critical thinking, and structured written argument. These skills provide strong preparation for further study in economics, business, finance, and related social sciences, as well as supporting informed participation in economic decision-making.

Course Content

Syllabus overview – Economics 9708 (AS & A Level)

Course Introduction
Economics 9708 syllabus and exam overview
Textbooks and resources
Set your study goals and strategy

STARTING OF ECONOMICS 9708 AS LEVEL | Quick overview of AS Level syllabus

Module 1: Basic economic ideas and resource allocation

Module 2: The price system and the microeconomy

Module 3: Government microeconomic intervention

Module 4: The macroeconomy

Module 5: Government macroeconomic intervention

Module 6: International economic issues

AS LEVEL ECONOMICS 9708 SYLLABUS COMPLETED | LET’S GET READY FOR THE EXAM

EXAM DONE! LET’S SUBMIT YOUR GRADES

STARTING OF A LEVEL ECONOMICS | Quick overview of A Level syllabus (Module 7 – 12)

Module 7: The price system and the microeconomy (Continued from Module 2)

Module 8: Government microeconomic intervention (Continued from Module 3)

Module 9: The macroeconomy (Continued from Module 4)

Module 10: Government macroeconomic intervention (Continued from Module 5)

Module 11: International economic issues (Continued from Module 6)

A LEVEL ECONOMICS 9708 COMPLETED | LET’S GET READY FOR THE EXAM

EXAM DONE! LET’S SUBMIT YOUR GRADES

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About Course

Course Content

Syllabus overview – Economics 9708 (AS & A Level)

Course Introduction

Economics 9708 syllabus and exam overview

Textbooks and resources

Set your study goals and strategy

STARTING OF ECONOMICS 9708 AS LEVEL | Quick overview of AS Level syllabus

Economics 9708 AS Level syllabus overview

Set your grade goal and design your optimal learning strategy

Module 1: Basic economic ideas and resource allocation

1.1 Scarcity, choice and opportunity cost

1.2 Economic methodology

1.3 Factors of production

1.4 Resource allocation in different economic systems

1.5 Production possibility curves

1.6 Classification of goods and services

Module 2: The price system and the microeconomy

2.1 Demand and supply curves

2.2 Price elasticity, income elasticity & cross elasticity of demand

2.3 Price elasticity of supply

2.4 The interaction of demand and supply

2.5 Consumer & producer surplus

Module 3: Government microeconomic intervention

3.1 Reasons for government intervention in markets

3.2 Methods & effects of government intervention in markets

3.3 Addressing income and wealth inequality

Module 4: The macroeconomy

4.1 National income statistics

4.2 Introduction to the circular flow of income

4.3 Aggregate Demand and Aggregate Supply analysis

4.4 Economic growth

4.5 Unemployment

4.6 Price stability

Module 5: Government macroeconomic intervention

5.1 Government macroeconomic policy objectives

5.2 Fiscal policy

5.3 Monetary policy

5.4 Supply-side policy

Module 6: International economic issues

6.1 The reasons for international trade

6.2 Protectionism

6.3 Current account of the balance of payments

6.4 Exchange rates

6.5 Policies to correct imbalances in the current account of the balance of payments

AS LEVEL ECONOMICS 9708 SYLLABUS COMPLETED | LET’S GET READY FOR THE EXAM

EXAM DONE! LET’S SUBMIT YOUR GRADES

STARTING OF A LEVEL ECONOMICS | Quick overview of A Level syllabus (Module 7 – 12)

Economics 9708 A Level syllabus overview

Set your grade goal and design your optimal learning strategy

Module 7: The price system and the microeconomy (Continued from Module 2)

7.1 Utility

7.2 Indifference curves and budget lines

7.3 Efficiency and market failure

7.4 Private costs & benefits, externalities & social costs & benefits

7.5 Types of cost, revenue & profit, short-run and long-run production

7.6 Different market structures

7.7 Growth and survival of firms

7.8 Differing objectives and policies of firms

Module 8: Government microeconomic intervention (Continued from Module 3)

8.1 Government policies to achieve efficient resource allocation & correct market failure

8.2 Equity & redistribution of income & wealth

8.3 Labour market forces and government intervention

Module 9: The macroeconomy (Continued from Module 4)

9.1 The circular flow of income

9.2 Economic growth & sustainability

9.3 Employment/unemployment

9.4 Money & banking

Module 10: Government macroeconomic intervention (Continued from Module 5)

10.1 Government macroeconomic policy objectives

10.2 Links between macroeconomic problems and their interrelatedness

10.3 Effectiveness of policy options to meet all macroeconomic objectives

Module 11: International economic issues (Continued from Module 6)

11.1 Policies to correct disequilibrium in the balance of payments

11.2 Exchange rates

11.3 Economic development

11.4 Characteristics of countries at different levels of development

11.5 Relationship between countries at different levels of development

11.6 Globalisation

A LEVEL ECONOMICS 9708 COMPLETED | LET’S GET READY FOR THE EXAM