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ECONOMICS Universities and employers accepted Cambridge IGCSE Economics as proof of knowledge and understanding of economics. After that  Successful Cambridge …

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ECONOMICS

Universities and employers accepted Cambridge IGCSE Economics as proof of knowledge and understanding of economics. After that  Successful Cambridge IGCSE Economics candidates gain lifelong skills, including: • understanding economic theory, terminology, and principles also help in economic analysis. • Ability to distinguish between facts and value judgments in economic issues also to understanding, and an ability to use basic economic numeracy and literacy. • the ability to take a greater part in decision-making processes in everyday life. • Ability to use examples from a variety of economies and an excellent foundation for advanced study in economics.  

Content Overview

1. Basic economic problem The syllabus's first sections introduce the fundamental ideas and concepts that underpin the study of economics. Likewise, it includes the basic economic problem, factors of production, opportunity cost, and production possibility curves so too. 2 . Allocation of resources Fundamental principles of resource allocation are considered through the price mechanism in a market economy. Similarly, market forces of demand and supply, market equilibrium and disequilibrium, and elasticity above all are form the core of this section. 3 . Microeconomic decision-makers Microeconomy is an important area of study. And the major decision-makers as well as banks, households, workers, trade unions, and firms have approached the learning. 4. Government and the macroeconomy Governments have different macroeconomic aims, and conflicts often arise between the choice of measures used to achieve them. In the same way, variables must be measured to consider the causes and consequences of change, and appropriate policies applied. 5. Economic development Population helps to develop the economy however, living standards, poverty, and income redistribution. But the effects of changes in the size and structure of population and development in a variety of countries are explored. 6. International trade and globalization The importance of trade between countries and the growth of globalization is explored. for instance, principles such as specialization. In addition role of free trade, the role of multinational companies, foreign exchange rates. And in the conclusion, the balance of payments stability is considered.

Course Currilcum

  • The basic economic problem 00:00:00
  • The nature of the economic problem 00:00:00
  • Factors of production 00:00:00
  • Opportunity cost 00:00:00
  • Production possibility curves 00:00:00
  • The allocation of resources 00:00:00
  • Microeconomics and macroeconomics 00:00:00
  • The role of markets in allocating resources 00:00:00
  • Demand 00:00:00
  • Supply 00:00:00
  • Price determination 00:00:00
  • Causes of price changes 00:00:00
  • Price elasticity of demand 00:00:00
  • Price elasticity of supply 00:00:00
  • Market economic system 00:00:00
  • Market failure 00:00:00
  • Mixed economic system 00:00:00
  • Microeconomic decision makers 00:00:00
  • Money and banking 00:00:00
  • Households 00:00:00
  • Workers 00:00:00
  • Trade unions 00:00:00
  • Firms 00:00:00
  • Firms and production 00:00:00
  • Firms’ costs, revenue and objectives 00:00:00
  • Market structure 00:00:00
  • Government and the macroeconomy 00:00:00
  • The role of government 00:00:00
  • The macroeconomic aims of government 00:00:00
  • Fiscal policy 00:00:00
  • Monetary policy 00:00:00
  • Supply-side policy 00:00:00
  • Economic growth 00:00:00
  • Employment and unemployment 00:00:00
  • Inflation and deflation 00:00:00
  • Economic development 00:00:00
  • Living standards 00:00:00
  • Poverty 00:00:00
  • Population 00:00:00
  • Differences in economic development between countries 00:00:00
  • International trade and globalisation 00:00:00
  • International specialisation 00:00:00
  • Free trade and protection 00:00:00
  • Foreign exchange rates 00:00:00
  • Current account of the balance of payments 00:00:00