Edexcel International GCSE in Economics (4EC0)
n the complex web of global resources, economics serves as the compass for decision-making and allocation. This course invites you to explore the forces that shape wealth and well-being by moving from the behavior of individual consumers to the performance of national economies. You will gain a solid command of microeconomic and macroeconomic concepts, where you will learn to process statistical data and interpret market trends. Crucially, you will develop the technical ability to analyze the impact of government policies and global trade while ensuring compliance with economic models and theories. By mastering the evaluation of economic arguments and the interpretation of financial indicators, you will be equipped to assess real-world scenarios using logical analysis and make informed choices based on efficiency and equity.
Core Content Areas
The Edexcel IGCSE Economics (4EC0) course is a comprehensive qualification structured around the fundamental principles of markets and national economies.
1. The Market System
Focuses on the economic problem, supply and demand, price determination, and price elasticity.
2. Business Economics
Explores production, costs, revenue, profit maximization, and economies of scale in business operations.
3. Market Structures and Labor
Covers competition, monopoly, oligopoly, and the factors affecting wages and employment in the labor market.
4. Government Objectives
Examines the main macroeconomic goals: low inflation, low unemployment, economic growth, and balance of payments stability.
5. Government Policies
Investigates the tools used to manage the economy, including fiscal policy (tax/spending), monetary policy (interest rates), and supply-side policies.
6. The Global Economy
Deals with international trade, protectionism, exchange rates, and the role of multinational corporations.
Assessment Structure
The Edexcel IGCSE Economics (4EC0) qualification is assessed by a single written examination.
- Paper 1 (4EC0/01): This is a 2-hour 30-minute written exam worth 120 marks. It is the sole component of the qualification (100% weighting).
- Question Structure: The paper consists of four compulsory questions, each covering a different section of the specification.
- Skills Tested: Questions include multiple-choice, short calculations, data response scenarios, and extended essay-style evaluations.