Cambridge IGCSE Economics (0455): Contents

 Cambridge IGCSE Economics (0455)  

Syllabus matching grid

1 The basic economic problem: Choice and the allocation of resources
1.1 The nature of the economic problem
1.1.1: The economic problem
1.1.2: Economic and free goods
1.2 The factors of production
1.2.1: Factors of production and their rewards
1.2.2: Mobility, quantity and quality of factors of production
1.3 Opportunity cost
1.3.1: Definition and examples of opportunity cost
1.3.2: Opportunity cost and economic decision making
1.4 Production possibility curves
1.4.1: The production possibility frontier
1.4.2: Movements and shifts along a production possibility curve
Test yourself
2 The allocation of resources: How the market works and market failure
2.1 Microeconomics and macroeconomics
2.1.1: The difference between microeconomics and macroeconomics
2.2 The roles of markets in allocating resources
2.2.1: The market system
2.2.2: Resource allocation decisions
2.3 Demand
2.3.1: Price and demand
2.3.2: Causes of shifts in the demand curve
2.4 Supply
2.4.1: Price and supply
2.4.2: Conditions of supply
2.5 Price determination
2.5.1: Market equilibrium
2.6 Price changes
2.6.1: Causes and consequences of price changes
2.7 Elasticity of demand
2.7.1: Price elasticity of demand
2.7.2: Elasticity of demand and total spending/product revenue
2.8 Elasticity of supply
2.8.1: Price elasticity of supply
2.9 Market economic systems
2.9.1: The market economic system
2.9.2: Merits and weaknesses of a market system
2.10 Market failure
10 Market failure 48 2.10.1: The nature of market failure
2.10.2: Private and social costs and benefits
2.10.3: Causes of market failure
2.11 Mixed economic systems
2.11.1: The nature of a mixed economy
2.11.2: Government influence on micro-economy: regulation
2.11.3: Government influence on micro-economy: subsidies
2.11.4: Government influence on micro-economy: indirect taxes
Test yourself
3 Microeconomic decision makers: The individual as producer, consumer and borrower
3.1 Money and banking
3.1.1: Money
3.1.2: Commercial banks
3.1.3: Central banks
3.2 Households
3.2.1: Influences on spending, saving and borrowing
3.2.2: Income and expenditure patterns
3.3 Workers
3.3.1: Factors affecting occupation choice
3.3.2: Wage determination
3.3.3: Differences in earnings
3.3.4: Division of labour/specialisation
3.4 Trade unions
3.4.1: Nature and purpose of trade unions
3.5 Firms
3.5.1: Classification of firms
3.5.2: Small firms
3.5.3: Growth of firms
3.5.4: Mergers and integration
3.5.5: Economies and diseconomies of scale
3.6 Firms and production
3.6.1: Demand for factors of production
3.6.2: Labour-intensive and capital-intensive production
3.6.3: Production and productivity
3.7 Firms' cost, revenue and objectives
3.7.1: Fixed and variable costs
3.7.2: Total and average costs
3.7.3: Output and costs
3.7.4: Revenue
3.7.5: Objectives of firms
3.8 Market structure
3.8.1: Competitive markets
3.8.2: Monopoly markets
Test yourself
4 Government and the macroeconomy
4.1 The role of government
4.1.1: Government roles
4.2 Macroeconomic aims of government
4.2.1: Macroeconomic aims
4.2.2: Conflicts between government aims
4.3 Fiscal policy
4.3.1: Ele