KS4 Economics Handbook

Mr Mugendi Mbungu

Mr Kennedy Musau

Mr Edward Lubega

2 hours

The aims below describe the educational purposes of a course in economics for the Cambridge IGCSE

Exam.

The aims are to:

1    develop candidates’ knowledge and understanding of economic terminology, principles and theories

2    develop candidates’ basic economic numeracy and literacy and their ability to handle simple data including

graphs and diagrams

3    develop candidates’ ability to use the tools of economic analysis in particular situations

4    show candidates how to identify and discriminate between differing sources of information and how to distinguish between facts and value judgements in economic issues

• Basic economic problem: choice and the allocation of resources
• The allocation of resources: how the market  works; market  failure
• The individual as producer, consumer and borrower
• The private  firm as producer and employer
• Role of government in economy

• Economic indicators
• Developed and developing economies: trends in production, population and living standards
• International aspects