International GCSE Economics

The International GCSE Economics course helps students develop an understanding of economic theory, terminology and principles. Students study the economics of different countries and how these interrelate. They also learn to work with simple economics data and to use the tools of economic analysis.

Students apply understanding of economics to current economic issues. The course provides a foundation for further study, including Cambridge International AS and A Level Economics (or the equivalent).

This Economics course covers the following topics:

• The Basic Economic Problem
• Economic Systems
• Demand, Supply and Market Price
• Price Elasticity of Demand and Supply
• The Impact of Taxes and Subsidies on Market Outcomes
• Social Costs and Benefits
• Money and Finance
• Occupations and Earnings
• The Role of Trade Unions
• Spending, Saving and Borrowing
• Types of Business Organisations
• Organisation of Production
• The Growth of Firms
• Competition
• Government Economic Policy
• Taxation
• Price Inflation
• Employment and unemployment
• Output and Growth
• Developed and Less Developed Economies
• Population
• International Specialization and Trade
• Balancing International Payments