There are two examination broads offering IGCSE level including Edexcel and Cambridge (CIE), HK students can attempt these examinations in May / June each year offered by HKEAA.
If students plan to proceed to IB, GCE AS/A level studies in HK or UK, IGCSE syllabus provides a good opportunity for students to learn economics as a base and would find it extremely helpful.
If students plan to proceed to IB, GCE AS/A level studies in HK or UK, IGCSE syllabus provides a good opportunity for students to learn economics as a base and would find it extremely helpful.
IGCSE Economics (Edexcel)
Overview of content
A. Market system
· Foundation of economics (Scarcity, PPC, opportunity cost)
· Demand and supply
· Labour market
· Elasticity
B. Business and production
· Factors of production
· Cost and revenue
· Market Structure
· Externalities (Basic concept)
C. Government and the economy
· Macroeconomic objectives
o Economic growth
o Inflation
o Unemployment
o Balance of trade
o Protection of the environment
· Policies to achieve economic objectives
o Fiscal
o Monetary
o Supply-side
D. The global economy
· Globalisation
o Winners and losers
· International trade
o Trading blocs
o Impacts on members of joining trading bloc
· Exchange rate
o Factors affecting exchange rate
o Impact of exchange rate on current account
Exam format
120 marks 2 1/2hr
Students are required to answer short questions on the knowledge and concepts plus some 8-10 marks essay on evaluation.
A. Market system
· Foundation of economics (Scarcity, PPC, opportunity cost)
· Demand and supply
· Labour market
· Elasticity
B. Business and production
· Factors of production
· Cost and revenue
· Market Structure
· Externalities (Basic concept)
C. Government and the economy
· Macroeconomic objectives
o Economic growth
o Inflation
o Unemployment
o Balance of trade
o Protection of the environment
· Policies to achieve economic objectives
o Fiscal
o Monetary
o Supply-side
D. The global economy
· Globalisation
o Winners and losers
· International trade
o Trading blocs
o Impacts on members of joining trading bloc
· Exchange rate
o Factors affecting exchange rate
o Impact of exchange rate on current account
Exam format
120 marks 2 1/2hr
Students are required to answer short questions on the knowledge and concepts plus some 8-10 marks essay on evaluation.
IGCSE Business studies (Edexcel)
Content overview
1) Business activity and changing environment
· Types of organization
· Government influences
· External factors influences
· Location
2) Human resources
· Internal organization structure
· Communication
· Recruitment and selection
· Training
· Motivation theories
3) Account and Finance
· Sources of finance
· Budgets and cash flow forecasts
· Break-even analysis
· Profit and loss account and balance sheet
· Ratios and performance
4) Marketing
· Marketing mix (4P)
· Market research
5) Production
· Economies of scale and Diseconomies of scale
· Methods of production
· Productivity
· Quality
Exam format
2 hours 100 mark
Paper 1
Students are required to answer sets of questions (short and extended) based on knowledge and concepts.
1) Business activity and changing environment
· Types of organization
· Government influences
· External factors influences
· Location
2) Human resources
· Internal organization structure
· Communication
· Recruitment and selection
· Training
· Motivation theories
3) Account and Finance
· Sources of finance
· Budgets and cash flow forecasts
· Break-even analysis
· Profit and loss account and balance sheet
· Ratios and performance
4) Marketing
· Marketing mix (4P)
· Market research
5) Production
· Economies of scale and Diseconomies of scale
· Methods of production
· Productivity
· Quality
Exam format
2 hours 100 mark
Paper 1
Students are required to answer sets of questions (short and extended) based on knowledge and concepts.
IGCSE CIE Economics
Syllabus content
1. Basic economic problem
· Scarcity
· Factors of production
· Opportunity cost
· PPC
2) Market system and market failure
· Demand and supply analysis
· Elasticity
· Market system
· Market failure
3) The individual as producer, consumer and borrower
· Functions of money, central bank, stock exchanges
· Factors affecting choice of occupation and difference in earnings
· Role of trade union
· Specialisation
· Motives for spending, saving and borrowing
4) The private firms as producers and employer
· Types of business organization
· Productivity
· Cost and revenue
· Market structure (Monopoly and perfect competition)
· Economies of scale
5) Role of government in an economy
· Government policy
o Fiscal
o Monetary
o Supply-side
· Types of taxation
· Conflicts between macroeconomic objectives
6) Economic indicators
· Inflation
· Employment
· Output
7) Developed and developing economies
· Absolute and relative poverty
· Policies to alleviate poverty
· Factors affecting population growth
· Effects of changing population on the economy
8) International aspects
· Structure of current account and balance of payment
· Causes and consequences of current account surplus and deficit
· Causes and consequences of exchange rate fluctuation
· Methods of protection
· Arguments for and against protection
Exam format
Paper 1 MC (45 mins)
30 MC
Paper 2 Structure questions (2hr 15 mins)
Students are required to answer 1 compulsory questions based on a case study and three questions out of a choice of six. Each questions consist of both short and long questions from 2-10 marks.
1. Basic economic problem
· Scarcity
· Factors of production
· Opportunity cost
· PPC
2) Market system and market failure
· Demand and supply analysis
· Elasticity
· Market system
· Market failure
3) The individual as producer, consumer and borrower
· Functions of money, central bank, stock exchanges
· Factors affecting choice of occupation and difference in earnings
· Role of trade union
· Specialisation
· Motives for spending, saving and borrowing
4) The private firms as producers and employer
· Types of business organization
· Productivity
· Cost and revenue
· Market structure (Monopoly and perfect competition)
· Economies of scale
5) Role of government in an economy
· Government policy
o Fiscal
o Monetary
o Supply-side
· Types of taxation
· Conflicts between macroeconomic objectives
6) Economic indicators
· Inflation
· Employment
· Output
7) Developed and developing economies
· Absolute and relative poverty
· Policies to alleviate poverty
· Factors affecting population growth
· Effects of changing population on the economy
8) International aspects
· Structure of current account and balance of payment
· Causes and consequences of current account surplus and deficit
· Causes and consequences of exchange rate fluctuation
· Methods of protection
· Arguments for and against protection
Exam format
Paper 1 MC (45 mins)
30 MC
Paper 2 Structure questions (2hr 15 mins)
Students are required to answer 1 compulsory questions based on a case study and three questions out of a choice of six. Each questions consist of both short and long questions from 2-10 marks.
CIE Business Studies (0450)
Contents overview
1) Understanding business activity
· Specialisation
· Types of organisation
· Measuring size of business
· Business objectives
2) People in business
· Internal organization structure
· Communication
· Recruitment and selection
· Training
· Motivation theories
3) Marketing
· Marketing mix (4P)
· Market research
· Marketing strategy for business entering a new markets abroad
4) Production Management
· Economies of scale and Diseconomies of scale
· Methods of production
· Productivity
· Quality
· Location decision
5) Financial information and decisions
· Sources of finance
· Budgets and cash flow forecasts
· Break-even analysis
· Profit and loss account and balance sheet
· Ratios and performance
6) External influences
· Government policy
· Ethical issues
· Globalisation
· Exchange rates
Exam format
Paper 1
80 marks 1 ½ hour
Students are required to answer four questions of short answers and data response.
Paper2
80 marks 1 ½ hour
Students are required to answer four questions based on a case study
1) Understanding business activity
· Specialisation
· Types of organisation
· Measuring size of business
· Business objectives
2) People in business
· Internal organization structure
· Communication
· Recruitment and selection
· Training
· Motivation theories
3) Marketing
· Marketing mix (4P)
· Market research
· Marketing strategy for business entering a new markets abroad
4) Production Management
· Economies of scale and Diseconomies of scale
· Methods of production
· Productivity
· Quality
· Location decision
5) Financial information and decisions
· Sources of finance
· Budgets and cash flow forecasts
· Break-even analysis
· Profit and loss account and balance sheet
· Ratios and performance
6) External influences
· Government policy
· Ethical issues
· Globalisation
· Exchange rates
Exam format
Paper 1
80 marks 1 ½ hour
Students are required to answer four questions of short answers and data response.
Paper2
80 marks 1 ½ hour
Students are required to answer four questions based on a case study
