IGCSE Economics

The Cambridge IGCSE Economics syllabus develops an understanding of economic terminology and principles and of basic economic theory. Learners study the economics of developed and developing nations and how these interrelate. They also learn to handle simple data and undertake economic analysis, evaluate information and discriminate between facts and value judgments in economic issues. 

A foundation for further study at Cambridge International AS and A Level, the syllabus also encourages a better understanding of the world in which learners live, and helps them play an active part in the decision-making process, whether as consumers, producers or citizens of the local, national and international community.

 

IGCSE Business Studies

The Cambridge IGCSE Business Studies syllabus develops learners' understanding of business activity in the public and private sectors, and the importance of innovation and change. Learners find out how the major types of business organisation are established, financed and run, and how their activities are regulated. Factors influencing business decision-making are also considered, as are the essential values of cooperation and interdependence. 

Learners not only study business concepts and techniques but also enhance related skills such as numeracy and enquiry. The syllabus provides both a foundation for further study at Cambridge International A Level and an ideal preparation for the world of work.

 

AS and A Level Economics

Through the Cambridge International AS and A Level Economics syllabus, learners study how to explain and analyze economic issues and arguments, evaluate economic information, and organise, present and communicate ideas and judgments clearly. 

The syllabus covers a range of basic economic ideas, including an introduction to the price system and government intervention, international trade and exchange rates, the measurement of employment and inflation, and the causes and consequences of inflation. Learners also study the price system, the theory of the firm, market failure, macroeconomic theory and policy, and economic growth and development.

 

AS and A Level Business Studies

The Business Studies syllabus enables learners to understand and appreciate the nature and scope of business, and the role it plays in society. The syllabus covers economic, environmental, ethical, governmental, legal, social and technological issues, and encourages a critical understanding of organisations, the markets they serve and the process of adding value. 

Learners examine the management of organisations and, in particular, the process of decision-making in a dynamic external environment. 

 

IBDP Economics

Nature of the subject

Economics is a dynamic social science, forming part of group 3—individuals and societies. The study of economics is essentially about dealing with scarcity, resource allocation and the methods and processes by which choices are made in the satisfaction of human wants. As a social science, economics uses scientific methodologies that include quantitative and qualitative elements.

The IB Diploma Programme economics course emphasizes the economic theories of microeconomics, which deal with economic variables affecting individuals, firms and markets, and the economic theories of macroeconomics, which deal with economic variables affecting countries, governments and societies. These economic theories are not to be studied in a vacuum—rather, they are to be applied to real-world issues. Prominent among these issues are fluctuations in economic activity, international trade, economic development and environmental sustainability.
The ethical dimensions involved in the application of economic theories and policies permeate throughout the economics course as students are required to consider and reflect on human end-goals and values. The economics course encourages students to develop international perspectives, fosters a concern for global issues, and raises students’ awareness of their own responsibilities at a local, national and international level. The course also seeks to develop values and attitudes that will enable students to achieve a degree of personal commitment in trying to resolve these issues, appreciating our shared responsibility as citizens of 
an increasingly interdependent world.

Distinction between SL and HL

SL and HL students of economics are presented with a common syllabus, with an HL extension in some topics. The syllabus for both SL and HL students requires the development of certain skills and techniques, attributes and knowledge—as described in the assessment objectives of the programme.

While the skills and activity of studying economics are common to both SL and HL students, the HL student is required to acquire a further body of knowledge—including the ability to analyse, synthesize and evaluate that knowledge—and to develop quantitative skills in order to explain and analyse economic relationships. These quantitative skills are specifically assessed at HL in paper 3.

 

IBDP Business Studies

Nature of the subject

The IB Diploma Programme business and management course is a rigorous and dynamic subject in group 3, individuals and societies.  The course explores how business decision-making processes impact on and are affected by internal and external environments.  It is perfectly placed as a group 3 subject since it is the study of both the way in which individuals and groups interact in an organization and of the transformation of resources.

The Diploma Programme business and management course is designed to develop an understanding of business theory, as well as an ability to apply business principles, practices and skills.    As a course it aims to encourage a holistic view of the world of business by promoting an awareness of social, cultural and ethical factors in the actions of organizations and individuals in those organizations.

Developing international mindedness and an awareness of different cultural perspectives is at the heart of the course – enabling students to think critically and appreciate the nature and significance of change in a local, regional and global context.

Distinction between SL and HL

The curriculum model for Diploma Programme business and management is a core curriculum for higher level (HL) and standard level (SL) students consisting of five topics with common content and learning outcomes.  In addition to the core, HL students are expected to complete extension areas of study, in all five topics, adding both breadth and depth to the course.  HL students also study one extension topic (topic 6 – business strategy).

 



About Author!

Prof. Indrajeet M. Acharjee has finished his UG and PG in Economics, from Mumbai, Maharashtra, India.

His indepth study on economics and teaching methodology has made him successfull in his career. He is always passionate for learning new things exploring the business world, hence he is also a scholar of Management.

He is also expert of statistics and business mangement subjects. He is guiding / teaching students to IGCSE/IBDP/CBSC Board, University (National / International) and B-Schools.

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