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Cambridge International → IGCSE → Economics → 0455 → cambridge-igcse-economics-0455-2027-2029:v1

Overview Papers Syllabus Content Sources Publishing API

Overview

2 Papers
42 Topics
36 Subtopics
180 Outcomes
15 Sources
414 Paper-topic rules

Status published Locked

Version label: v1 | Years: 2027–2029 | Content hash: sha256:1d3a6cd9ccf4c09c88f078a0d0e22a60f80424af710b667fecfbb06ad93f50bc | Published: 2026-07-15T06:31:28+00:00 | Locked: 2026-07-15T06:31:28+00:00

Papers

p1 Paper 1 - Multiple Choice

Duration 60 min · Marks 40 · Weighting 30.00 · Structure fixed_items · Question count fixed 40 · Assembly exact_fixed_count

Allowed styles: multiple_choice / top_level unsupported

Patterns: 40

p2 Paper 2 - Structured Questions

Duration 120 min · Marks 80 · Weighting 70.00 · Structure fixed_sections_with_flexible_parts · Question count fixed_with_choices 5 · Assembly fixed_sections_with_flexible_parts

Allowed styles: structured_response / top_level unsupported source_analysis / top_level unsupported extended_writing / top_level unsupported short_answer / part unsupported extended_structured / part unsupported long_text / part unsupported calculation_response / part unsupported working_response / part unsupported data_response / part unsupported graph_interpretation / part unsupported table_completion_as_text / part unsupported diagram_labeling / part unsupported comparison / part unsupported error_correction / part unsupported matching / part unsupported sequence_ordering / part unsupported

Patterns: 5

Syllabus Content

1 The basic economic problem

  • 1.1 The nature of the basic economic problem 5 outcomes
    • 1.1.1 Define Finite resources and infinite wants. p1, p2
    • 1.1.2 Describe Economic problem of scarcity. p1, p2
    • 1.1.3 Analyse Need for choice by consumers, firms and governments. p1, p2
    • 1.1.4 Analyse Economic and free goods. p1, p2
    • 1.1.5 Analyse Resource allocation decisions. p1, p2
  • 1.2 Factors of production 5 outcomes
    • 1.2.1 Define Land, labour, capital and enterprise. p1, p2
    • 1.2.2 Describe Rewards to factors of production. p1, p2
    • 1.2.3 Analyse Mobility and immobility of factors. p1, p2
    • 1.2.4 Analyse Quantity and quality of factors. p1, p2
    • 1.2.5 Analyse Importance of enterprise in organising production. p1, p2
  • 1.3 Opportunity cost 5 outcomes
    • 1.3.1 Define Meaning of opportunity cost. p1, p2
    • 1.3.2 Describe Opportunity cost for individuals. p1, p2
    • 1.3.3 Analyse Opportunity cost for firms. p1, p2
    • 1.3.4 Analyse Opportunity cost for governments. p1, p2
    • 1.3.5 Analyse Use of opportunity cost in decision-making. p1, p2
  • 1.4 Production possibility curve (PPC) diagrams 5 outcomes
    • 1.4.1 Explain and interpret Draw and label PPC diagrams. p1, p2
    • 1.4.2 Explain and interpret Interpret points on, inside and outside a PPC. p1, p2
    • 1.4.3 Explain and interpret Explain shifts in a PPC. p1, p2
    • 1.4.4 Explain and interpret Show opportunity cost on a PPC. p1, p2
    • 1.4.5 Explain and interpret Use PPCs to illustrate economic growth and resource allocation. p1, p2

2 The allocation of resources

  • 2.1 The role of markets in allocating resources 5 outcomes
    • 2.1.1 Define Market allocation through price mechanism. p1, p2
    • 2.1.2 Describe Consumers and producers in markets. p1, p2
    • 2.1.3 Analyse Price as a signal and incentive. p1, p2
    • 2.1.4 Analyse Rationing function of prices. p1, p2
    • 2.1.5 Explain and interpret Market equilibrium. p1, p2
  • 2.2 Demand 5 outcomes
    • 2.2.1 Explain and interpret Definition of demand. p1, p2
    • 2.2.2 Explain and interpret Individual and market demand. p1, p2
    • 2.2.3 Explain and interpret Demand curve and schedule. p1, p2
    • 2.2.4 Explain and interpret Causes of shifts in demand. p1, p2
    • 2.2.5 Explain and interpret Movements along a demand curve. p1, p2
  • 2.3 Supply 5 outcomes
    • 2.3.1 Explain and interpret Definition of supply. p1, p2
    • 2.3.2 Explain and interpret Individual and market supply. p1, p2
    • 2.3.3 Explain and interpret Supply curve and schedule. p1, p2
    • 2.3.4 Explain and interpret Causes of shifts in supply. p1, p2
    • 2.3.5 Explain and interpret Movements along a supply curve. p1, p2
  • 2.4 Price determination 5 outcomes
    • 2.4.1 Explain and interpret Equilibrium price and quantity. p1, p2
    • 2.4.2 Describe Surpluses and shortages. p1, p2
    • 2.4.3 Explain and interpret Changes in demand and supply. p1, p2
    • 2.4.4 Explain and interpret Use of demand and supply diagrams. p1, p2
    • 2.4.5 Analyse Effects on price and quantity. p1, p2
  • 2.5 Price changes 5 outcomes
    • 2.5.1 Define Causes of price changes. p1, p2
    • 2.5.2 Discuss Consequences of price changes for consumers. p2
    • 2.5.3 Discuss Consequences for producers. p2
    • 2.5.4 Analyse Role of substitutes and complements. p1, p2
    • 2.5.5 Analyse Impact on resource allocation. p1, p2
  • 2.6 Price elasticity of demand (PED) 5 outcomes
    • 2.6.1 Calculate and interpret Definition of PED. p1, p2
    • 2.6.2 Calculate and interpret Calculate PED using percentage changes. p1, p2
    • 2.6.3 Explain and interpret Interpret elastic and inelastic demand. p1, p2
    • 2.6.4 Calculate and interpret Determinants of PED. p1, p2
    • 2.6.5 Calculate and interpret Relationship between PED and total revenue. p1, p2
  • 2.7 Price elasticity of supply (PES) 5 outcomes
    • 2.7.1 Calculate and interpret Definition of PES. p1, p2
    • 2.7.2 Calculate and interpret Calculate PES using percentage changes. p1, p2
    • 2.7.3 Explain and interpret Interpret elastic and inelastic supply. p1, p2
    • 2.7.4 Calculate and interpret Determinants of PES. p1, p2
    • 2.7.5 Calculate and interpret PES over different time periods. p1, p2
  • 2.8 Market economic system 5 outcomes
    • 2.8.1 Define Features of a market economic system. p1, p2
    • 2.8.2 Calculate and interpret Role of private sector and profit motive. p1, p2
    • 2.8.3 Analyse Consumer sovereignty. p1, p2
    • 2.8.4 Discuss Advantages of market allocation. p2
    • 2.8.5 Discuss Disadvantages of market allocation. p2
  • 2.9 Market failure 5 outcomes
    • 2.9.1 Define Definition of market failure. p1, p2
    • 2.9.2 Discuss External costs and external benefits. p2
    • 2.9.3 Analyse Public goods and merit goods. p1, p2
    • 2.9.4 Analyse Demerit goods and information failure. p1, p2
    • 2.9.5 Analyse Government responses to market failure. p1, p2
  • 2.10 Mixed economic system 5 outcomes
    • 2.10.1 Define Features of a mixed economic system. p1, p2
    • 2.10.2 Describe Role of public and private sectors. p1, p2
    • 2.10.3 Analyse Government intervention in markets. p1, p2
    • 2.10.4 Discuss Advantages of mixed economies. p2
    • 2.10.5 Discuss Disadvantages of mixed economies. p2

3 Microeconomic decision-makers

  • 3.1 Money and banking 5 outcomes
    • 3.1.1 Define Functions of money. p1, p2
    • 3.1.2 Describe Characteristics of money. p1, p2
    • 3.1.3 Analyse Role of commercial banks. p1, p2
    • 3.1.4 Analyse Central banks and monetary authorities. p1, p2
    • 3.1.5 Discuss Benefits and risks of borrowing and saving. p2
  • 3.2 Households 5 outcomes
    • 3.2.1 Define Household income sources. p1, p2
    • 3.2.2 Describe Spending, saving and borrowing decisions. p1, p2
    • 3.2.3 Analyse Influences on consumption. p1, p2
    • 3.2.4 Analyse Effects of interest rates on households. p1, p2
    • 3.2.5 Analyse Role of households as consumers and workers. p1, p2
  • 3.3 Workers 5 outcomes
    • 3.3.1 Define Factors affecting choice of occupation. p1, p2
    • 3.3.2 Describe Wage and non-wage factors. p1, p2
    • 3.3.3 Analyse Division of labour and specialisation. p1, p2
    • 3.3.4 Analyse Trade unions and collective bargaining. p1, p2
    • 3.3.5 Analyse Causes of wage differences. p1, p2
  • 3.4 Firms 5 outcomes
    • 3.4.1 Define Classification of firms by sector. p1, p2
    • 3.4.2 Describe Private and public sector organisations. p1, p2
    • 3.4.3 Analyse Small and large firms. p1, p2
    • 3.4.4 Analyse Growth of firms. p1, p2
    • 3.4.5 Analyse Economies and diseconomies of scale. p1, p2
  • 3.5 Firms and production 5 outcomes
    • 3.5.1 Define Production and productivity. p1, p2
    • 3.5.2 Describe Labour-intensive and capital-intensive production. p1, p2
    • 3.5.3 Analyse Factors affecting productivity. p1, p2
    • 3.5.4 Discuss Benefits of increased productivity. p2
    • 3.5.5 Discuss Costs and benefits of specialisation in production. p2
  • 3.6 Firms’ costs, revenue and objectives 5 outcomes
    • 3.6.1 Discuss Fixed costs, variable costs, total costs and average costs. p2
    • 3.6.2 Discuss Calculate costs, total revenue and profit. p2
    • 3.6.3 Discuss Economies of scale and costs. p2
    • 3.6.4 Calculate and interpret Objectives of firms including profit and growth. p1, p2
    • 3.6.5 Analyse Reasons for different business objectives. p1, p2
  • 3.7 Types of markets 5 outcomes
    • 3.7.1 Define Competitive markets and monopoly. p1, p2
    • 3.7.2 Describe Characteristics of perfect competition. p1, p2
    • 3.7.3 Analyse Characteristics of monopoly. p1, p2
    • 3.7.4 Analyse Effects of competition on price and quality. p1, p2
    • 3.7.5 Discuss Advantages and disadvantages of monopoly. p2

4 Government and the macroeconomy

  • 4.1 Government macroeconomic intervention 5 outcomes
    • 4.1.1 Define Macroeconomic aims of government. p1, p2
    • 4.1.2 Describe Economic growth, low unemployment and stable prices. p1, p2
    • 4.1.3 Analyse Balance of payments stability. p1, p2
    • 4.1.4 Analyse Redistribution of income. p1, p2
    • 4.1.5 Discuss Conflicts between macroeconomic aims. p2
  • 4.2 Fiscal policy 5 outcomes
    • 4.2.1 Define Meaning of fiscal policy. p1, p2
    • 4.2.2 Describe Government spending and taxation. p1, p2
    • 4.2.3 Analyse Budget deficits and surpluses. p1, p2
    • 4.2.4 Explain and interpret Effects on aggregate demand. p1, p2
    • 4.2.5 Discuss Advantages and limitations of fiscal policy. p2
  • 4.3 Monetary policy 5 outcomes
    • 4.3.1 Define Meaning of monetary policy. p1, p2
    • 4.3.2 Explain and interpret Interest rates and money supply. p1, p2
    • 4.3.3 Analyse Effects on borrowing, saving and spending. p1, p2
    • 4.3.4 Calculate and interpret Exchange rate effects. p1, p2
    • 4.3.5 Discuss Advantages and limitations of monetary policy. p2
  • 4.4 Supply-side policy 5 outcomes
    • 4.4.1 Explain and interpret Meaning of supply-side policy. p1, p2
    • 4.4.2 Describe Education and training. p1, p2
    • 4.4.3 Analyse Labour market reforms. p1, p2
    • 4.4.4 Analyse Infrastructure and incentives. p1, p2
    • 4.4.5 Analyse Effects on productivity and growth. p1, p2
  • 4.5 Economic growth 5 outcomes
    • 4.5.1 Define Definition and measurement of economic growth. p1, p2
    • 4.5.2 Calculate and interpret GDP and real GDP. p1, p2
    • 4.5.3 Analyse Causes of economic growth. p1, p2
    • 4.5.4 Discuss Benefits of economic growth. p2
    • 4.5.5 Discuss Costs of economic growth. p2
  • 4.6 Employment and unemployment 5 outcomes
    • 4.6.1 Define Definitions of employment and unemployment. p1, p2
    • 4.6.2 Describe Measuring unemployment. p1, p2
    • 4.6.3 Analyse Causes of unemployment. p1, p2
    • 4.6.4 Discuss Consequences of unemployment. p2
    • 4.6.5 Analyse Policies to reduce unemployment. p1, p2
  • 4.7 Inflation 5 outcomes
    • 4.7.1 Calculate and interpret Definition and measurement of inflation using CPI. p1, p2
    • 4.7.2 Explain and interpret Demand-pull inflation. p1, p2
    • 4.7.3 Analyse Cost-push inflation. p1, p2
    • 4.7.4 Discuss Consequences of inflation. p2
    • 4.7.5 Analyse Policies to control inflation. p1, p2

5 Economic development

  • 5.1 Living standards 5 outcomes
    • 5.1.1 Define Meaning of living standards. p1, p2
    • 5.1.2 Calculate and interpret Use of GDP per head. p1, p2
    • 5.1.3 Analyse Use of HDI. p1, p2
    • 5.1.4 Analyse Indicators of living standards. p1, p2
    • 5.1.5 Discuss Limitations of measures of living standards. p2
  • 5.2 Poverty 5 outcomes
    • 5.2.1 Define Absolute and relative poverty. p1, p2
    • 5.2.2 Describe Causes of poverty. p1, p2
    • 5.2.3 Discuss Consequences of poverty. p2
    • 5.2.4 Analyse Policies to reduce poverty. p1, p2
    • 5.2.5 Discuss Challenges in reducing poverty. p2
  • 5.3 Population 5 outcomes
    • 5.3.1 Define Population size and structure. p1, p2
    • 5.3.2 Describe Birth rates, death rates and net migration. p1, p2
    • 5.3.3 Analyse Ageing populations. p1, p2
    • 5.3.4 Analyse Population growth and resources. p1, p2
    • 5.3.5 Analyse Effects of population change on development. p1, p2
  • 5.4 Differences in economic development between countries 5 outcomes
    • 5.4.1 Define Indicators of economic development. p1, p2
    • 5.4.2 Describe Differences in income and productivity. p1, p2
    • 5.4.3 Analyse Differences in education and health. p1, p2
    • 5.4.4 Analyse Role of natural resources and institutions. p1, p2
    • 5.4.5 Analyse Policies to promote development. p1, p2

6 International trade and globalisation

  • 6.1 Specialisation and free trade 5 outcomes
    • 6.1.1 Define Specialisation at individual, firm and country level. p1, p2
    • 6.1.2 Discuss Advantages of specialisation. p2
    • 6.1.3 Discuss Disadvantages of specialisation. p2
    • 6.1.4 Discuss Benefits of free trade. p2
    • 6.1.5 Analyse Comparative advantage in simple terms. p1, p2
  • 6.2 Globalisation and trade restrictions 5 outcomes
    • 6.2.1 Define Meaning of globalisation. p1, p2
    • 6.2.2 Describe Role of MNCs. p1, p2
    • 6.2.3 Analyse Tariffs, quotas and subsidies. p1, p2
    • 6.2.4 Discuss Arguments for trade restrictions. p2
    • 6.2.5 Discuss Arguments against trade restrictions. p2
  • 6.3 Foreign exchange rates 5 outcomes
    • 6.3.1 Calculate and interpret Definition of exchange rate. p1, p2
    • 6.3.2 Calculate and interpret Floating exchange rates. p1, p2
    • 6.3.3 Calculate and interpret Causes of exchange rate changes. p1, p2
    • 6.3.4 Analyse Effects of appreciation and depreciation. p1, p2
    • 6.3.5 Analyse Impact on import and export prices. p1, p2
  • 6.4 Current account of the balance of payments 5 outcomes
    • 6.4.1 Calculate and interpret Structure of current account of the balance of payments. p1, p2
    • 6.4.2 Describe Trade in goods and services. p1, p2
    • 6.4.3 Analyse Primary and secondary income. p1, p2
    • 6.4.4 Calculate and interpret Calculate current account balances from data. p1, p2
    • 6.4.5 Discuss Causes and consequences of current account deficits and surpluses. p2

Sources

Type Title URL Confidence Actions
official_syllabus Official source Cambridge IGCSE Economics 0455 syllabus for examination in 2027, 2028 and 2029 https://www.cambridgeinternational.org/Images/7181... official_component_structure
official_subject_page Cambridge IGCSE Economics 0455 subject page https://www.cambridgeinternational.org/programmes-... official_subject_page
official_syllabus_update Cambridge IGCSE Economics 0455 2027-2029 syllabus update https://www.cambridgeinternational.org/Images/7360... official_update_notice
official_past_paper Official Cambridge past paper sample: 414644 2020 Specimen Paper 1 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 414646 2020 Specimen Paper 2 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 414652 2020 Specimen Paper 1 Mark Scheme official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 414654 2020 Specimen Paper 2 Mark Scheme official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 521303 June 2024 Mark Scheme Paper 11 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 521307 June 2024 Mark Scheme Paper 21 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 521309 June 2024 Question Paper 11 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 521311 June 2024 Question Paper 21 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 718804 2027 Specimen Paper 1 Mark Scheme official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 718805 2027 Specimen Paper 2 Mark Scheme official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 718808 2027 Specimen Paper 1 official_past_paper_sample
official_past_paper Official Cambridge past paper sample: 718809 2027 Specimen Paper 2 official_past_paper_sample

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