IGCSE Economics Revision Guide

Description

Full syllabus covered in detail!

Also Don’t miss the extra interactive IGCSE Revision tool

1. The Basic Economic Problem

1.1 Nature of the economic problem
1.2 Factors of production
1.3 Opportunity cost
1.4 Production possibility frontier (PPF)

2. The Allocation of Resources

2.1 Microeconomics and macroeconomics
2.2 The role of markets in allocating resources
2.3 Demand
2.4 Supply
2.5 Price determination (market equilibrium)
2.6 Price changes
2.7 Price elasticity of demand (PED)
2.8 Price elasticity of supply (PES)
2.9 Market economic system
2.10 Market failure
2.11 Mixed economic system

3. Microeconomic Decision Makers

3.1 Money and banking
3.2 Households
3.3 Workers
3.4 Trade unions
3.5 Firms
3.6 Firms and production
3.7 Firms’ costs, revenue and objectives
3.8 Market structure

4. Government and the Macroeconomy

4.1 The role of government
4.2 Economic objectives of the government
4.3 Fiscal policy
4.4 Monetary policy
4.5 Supply-side policies
4.6 Economic growth
4.7 Employment and unemployment
4.8 Inflation and deflation

5. Economic Development

5.1 Living standards
5.2 Poverty
5.3 Population
5.4 Differences in economic development

6. International Trade and Globalisation

6.1 International specialisation
6.2 Globalisation and free trade
6.3 Exchange rates
6.4 Balance of payments