Cambridge IGCSE & O Level Economics Notes

Introduction

This part of the website provides concise notes, tables and graphs for each chapter of the Cambridge IGCSE and O Level Economics syllabus. The notes are organised by section and cover the essential concepts, examples and formulae you need for exam success.

Select a section below to view the chapters. Each chapter page contains a summary of key points, helpful tables and illustrative charts.

Section 1: The basic economic problem

Chapter 1 – The nature of the economic problem
Chapter 2 – The factors of production
Chapter 3 – Opportunity cost
Chapter 4 – Production possibility curve

Section 2: The allocation of resources

Chapter 5 – Microeconomics and macroeconomics
Chapter 6 – The role of markets in allocating resources
Chapter 7 – Demand
Chapter 8 – Supply
Chapter 9 – Price determination
Chapter 10 – Price changes
Chapter 11 – Price elasticity of demand
Chapter 12 – Price elasticity of supply
Chapter 13 – Market economic system
Chapter 14 – Market failure
Chapter 15 – Mixed economic system

Section 3: Microeconomic decision makers

Chapter 16 – Money and banking
Chapter 17 – Households
Chapter 18 – Workers
Chapter 19 – Trade unions
Chapter 20 – Firms
Chapter 21 – Firms and production
Chapter 22 – Firms’ costs, revenue and objectives
Chapter 23 – Market structure

Section 4: Government and the macro economy

Chapter 24 – The role of government
Chapter 25 – The macroeconomic aims of government
Chapter 26 – Fiscal policy
Chapter 27 – Monetary policy
Chapter 28 – Supply‑side policy
Chapter 29 – Economic growth
Chapter 30 – Employment and unemployment
Chapter 31 – Inflation and deflation

Section 5: Economic development

Chapter 32 – Living standards
Chapter 33 – Poverty
Chapter 34 – Population
Chapter 35 – Differences in economic development between countries

Section 6: International trade and globalisation

Chapter 36 – International specialisation
Chapter 37 – Globalisation, free trade and protection
Chapter 38 – Foreign exchange rates
Chapter 39 – Current account of balance of payments