Summary of Cambridge IGCSE Economics 0455 Syllabus (2027-2029)

Qualification: Cambridge IGCSE™ Economics $0455$ for examination in $2027$ , $2028$ , and $2029$ .
Recognition: Peer-reviewed by UK ENIC and found comparable to the standard of UK GCSE; globally recognized by universities including Duke University.
Exam Availability: June and November series globally; March series available in India.
Learning Hours: Approximately $130\,\text{guided learning hours}$ .

1. The Basic Economic Problem: Scarcity, factors of production (land, labour, capital, enterprise), and Production Possibility Curve (PPC) diagrams.
2. The Allocation of Resources: Market forces of demand and supply, price determination, Price Elasticity of Demand (PED), Price Elasticity of Supply (PES), and market failure.
3. Microeconomic Decision-Makers: Role of banks, household finances, wage determination, and firms' production, costs, and revenues.
4. Government and the Macroeconomy: Fiscal, monetary, and supply-side policies; economic growth, unemployment, and inflation.
5. Economic Development: Living standards (using Real GDP per head and Human Development Index (HDI)), poverty, and population growth.
6. International Trade and Globalisation: Free trade, multinational companies (MNCs), foreign exchange rates, and the current account of the balance of payments.

Paper 1 (Multiple Choice): $1\,\text{hour}$ , $40$ marks ( $30\%$ weighting). Assesses AO1 (Knowledge) and AO2 (Analysis).
Paper 2 (Structured Questions): $2\,\text{hours}$ , $80$ marks ( $70\%$ weighting). Assesses AO1, AO2, and AO3 (Evaluation).
- Section A: One compulsory question ( $20$ marks) based on real economic data.
- Section B: Three questions from a choice of four ( $20$ marks each).
Assessment Objectives (AO) Weighting:
- AO1 Knowledge and understanding: $43\%$
- AO2 Analysis: $47\%$
- AO3 Evaluation: $10\%$

Environmental Sustainability: Explicitly integrated throughout the curriculum.
Paper 1 Updates: Marks increased from $30$ to $40$ ; duration increased from $45\,\text{minutes}$ to $1\,\text{hour}$ .
Paper 2 Updates: Marks reduced from $90$ to $80$ ; duration reduced from $2\,\text{hours}\,15\,\text{minutes}$ to $2\,\text{hours}$ .
New Content Additions: Scarcity concept, terminology like "perfectly inelastic" and "unitary elastic", seasonal unemployment, and causes/consequences of recession.
Content Removals: Specific topics on Trade Unions (now reduced), mobility of capital/land, and fixed foreign exchange rate systems.

Christoph Guttentag (Dean of Undergraduate Admissions, Duke University): "We think the Cambridge curriculum is superb preparation for university."
Gary Tan (Head of Schools and CEO, Raffles Group of Schools): Noted the qualification provides an internationally recognized pathway for global studies.
Managing Director (British School of Egypt BSE): Stated it provides perfect preparation for success at advanced level programmes.
Dr Amy Munro-Faure (Head of Education, Cambridge Zero): Highlighted the importance of providing skills to explore climate change challenges.
Zhai Xiaoning (Deputy Principal, The High School Affiliated to Renmin University of China): Observed that students develop a global perspective and lasting passion for learning.