IGCSE Economics — frequently asked questions
What is IGCSE Economics 0455?
Cambridge IGCSE Economics covers microeconomics (supply, demand, price elasticity, market structures) and macroeconomics (GDP, inflation, unemployment, monetary and fiscal policy). It is assessed through two theory papers — short answer and structured essay questions.
How is IGCSE Economics assessed by Cambridge?
Two papers: Paper 1 (45 minutes, multiple choice, 30 marks) and Paper 2 (2 hours 15 minutes, structured data response and essays, 90 marks). Paper 2 includes data stimulus questions requiring both knowledge and application to real-world scenarios.
What diagrams are required in IGCSE Economics?
Key diagrams include: supply and demand curves (shifts and movements), PED and PES illustrations, AD-AS model basics, production possibility frontiers and simple monopoly diagrams. All diagrams must be labelled with axes, curves and equilibrium points.