What is IGCSE Economics?

If you’re considering taking IGCSE Economics, you might be wondering what the course involves, which exam boards offer it, and whether it’s right for you.

This guide tells you exactly what you need to know to make an informed decision about your IGCSE options.

Key Takeaways

• Cambridge International Education (CIE) (opens in a new tab) and Pearson Edexcel (opens in a new tab) are the two exam boards currently offering IGCSE Economics

• IGCSE Economics includes topics like the basic economic problem, the allocation of resources, microeconomics and macroeconomics

• Assessment is two exam papers taken at the end of Year 11

What is IGCSE Economics?

IGCSE Economics is a two-year qualification covering how individuals, firms and governments make decisions about scarce resources. You'll learn how markets work, why prices change, what governments do to manage their economies, and how trade and globalisation affect everyday life.

Most students take it across Years 10 and 11, with no coursework. Your final grade comes entirely from two exam papers sat at the end of Year 11.

What you'll study

CIE IGCSE Economics is built around six topic areas:

1.     The basic economic problem

2.     The allocation of resources

3.     Microeconomic decision-makers

4.     Government and the macroeconomy

5.     Economic development

6.     International trade and globalisation

See our IGCSE topics by exam board for more information, including the topics for Pearson Edexcel.

How IGCSE Economics is assessed

Both exam boards split their assessment of IGCSE Economics into two papers:

Which exam boards offer IGCSE Economics?

Two exam boards currently offer IGCSE Economics: CIE and Pearson Edexcel.

Check which exam board your school uses, as content and past papers differ.

What grades are available?

CIE grades using the A*–G scale, whereas Pearson Edexcel grades using the 9–1 scale.

You can use our guide to IGCSE grades for more information.

Is IGCSE Economics right for you?

If you’re interested in business, economics or finance, IGCSE Economics is definitely worth considering.

If you’re not interested in the economy or more essay-based subjects, it’s probably not for you. Consider other subjects like IGCSE Accounting or IGCSE Enterprise instead.

If you're still finalising your subject mix, our best IGCSE subject combinations guide covers what works well together.

How to prepare for IGCSE Economics

• Regularly follow economy-related news stories – The Financial Times and The Economist are particularly good sources

• Start building a glossary of key terms, e.g. ‘macroeconomic’, ‘fiscal’ and ‘inflation’

• Use our list of IGCSE Economics topics by exam board to make a checklist – it’s a lot easier than reading a lengthy specification!

If you’re looking for the top grades, our guide on how to get a Grade 9 in GCSE Economics is also relevant to IGCSE Economics.

Frequently Asked Questions

Do I need any prior economics or maths to take IGCSE Economics?

No. Most students start IGCSE Economics with no prior knowledge of the subject. Solid grades in GCSE Maths and English help, but neither exam board has prior learning requirements.

How much maths is in IGCSE Economics?

There is some maths – mainly calculations, graph construction and data interpretation – but not a lot. What matters more is understanding core economic concepts and applying them analytically.

Is IGCSE Economics harder than IGCSE Business Studies?

As one of the hardest IGCSEs, many students find IGCSE Economics harder than IGCSE Business Studies.

Concepts like macroeconomics in IGCSE Economics can be trickier than the more concrete elements of IGCSE Business Studies. Take a look at the full topic list for IGCSE Business Studies for more information.

Does IGCSE Economics help with A Level Economics?

Yes. You don't need IGCSE Economics to take A Level Economics, but having a head start on diagrams, terminology and policy frameworks makes Year 12 noticeably easier. Our guide on how to revise A Level Economics gives you a good idea of what to expect.

Is IGCSE Economics useful for university?

Yes. It's particularly valued for degrees related to economics, business, finance, international relations and Philosophy, Politics and Economics (PPE). Russell Group universities also recognise it as a valuable qualification for economics courses.