Download New/Revised Academic Policy : Entry # 58

Print Preview : New/Revised Academic Policy : Bulk Print
1/21/16, 12:06 PM
New/Revised Academic Policy : Entry # 58
Today's Date
01/11/2016
Your Name
Daniel Hall
Your Email:
[email protected]
Your Department:
Economics
Please select the appropriate school overseeing this proposal:
Business
Does this proposal connect solely to programs in a single school (Intra-Collegiate), or does it have connections to broader
university programs and requirements (Inter-Collegiate)? Note that all proposals connected to University Academic
Programs or within the General Education should be considered Inter-Collegiate proposals.
Inter-collegiate
Is this policy new or a revision to an existing policy?
New
Please provide a 200 word summary of the new or revised policy:
The new policy is in regards to the equivalency between Cambridge International Examinations (CIE) and AP exams in
awarding credit for ECO 2030 and ECO 2050.
The Economics Department recommends the following guidelines for awarding credit to incoming students who have taken
the Cambridge International Exams in Economics:
• AS-Level (1 year of study) A or B score = credit for ECO 2030 or ECO 2050, but not both.
• A-Level (2 years of study) B or C score = credit for ECO 2030 or ECO 2050, but not both.
• A-Level (2 years of study) A* or A score = credit for both ECO 2030 and ECO 2050.
Please describe the rationale for this new or revised policy:
These rules are roughly equivalent to an score of 5 for the microeconomics and/or macroeconomics on the U.S. High School
AP Exam. We currently only award credit for a score of 5 on the AP macroeconomics exam (for ECO 2030) and a score of 5
on the AP microeconomics exam (for ECO 2050).
http://www.highpoint.edu/curriculum/?gf_page=print-entry&fid=5&lid=58&notes=1
Page 1 of 3
Print Preview : New/Revised Academic Policy : Bulk Print
1/21/16, 12:06 PM
These rules are not one-to-one equivalencies because both macroeconomic and microeconomic learning objectives similar to
ours are covered at the AS-Level and A-Level, but only all of our learning objectives are covered at the A-Level. We once
offered an ECO-2010: Intro to Modern Economics course similar to the AS-Level, and in the past we let it count for ECO 2030
or ECO 2050 for students becoming business majors or adding a business minor, so these awarding guidelines seemed
appropriate.
Attached are the documents in support of this rationale that led to our decision.
What Academic Divisions, University Officers, stake-holders or Programs are involved in, or affected by, this addition or
change? Who enforces the policy? Which University departments or constituencies need to be informed of this change
and publish this policy?
The Department of Economics is most likely the largest stakeholder. The General Education program is the second largest
stakeholder. Each CIE credit awarded means one less student taking ECO 2030 or ECO 2050 for their General Education
requirement or other major requirement that has ECO 2030, ECO 2050, or both. The impact should be small. Dean Wehrley,
of the Phillips School of Business has been informed of the department's recommendation.
How is this policy consistent with University and school mission?
We feel that this policy is as consistent with the University and school mission as our current policy to award AP credit.
Furthermore, awarding credit for CIE exams could increase the diversity of our student body as foreign students may be more
likely to take this placement exam.
Does the policy require an interim or transition plan, or can it be implemented immediately?
The department feels that this policy can be implemented immediately and follow the same procedures for awarding credit for
AP Exam scores.
Please attach complete policy and any supporting documents.
Economics-Department-Academic-Policy-Proposal.pdf
Cambridge-International-Exams-CIE_equivalency-to-AP-exam-scores.pdf
ECO-2030-and-ECO-2050-Course-Description-and-Learning-Objectives.pdf
164510-2016-2018-syllabus.pdf
128743-2015-syllabus.pdf
For Deans:
Does this policy fit the needs of the school/program/university?
Yes
Comments justifying this determination?
I trust the economics department to make this decision given the faculty are the experts in economics. This policy is not
inconsistent with any HPU policies.
I approve/deny this policy proposal for further advancement (DEAN)
http://www.highpoint.edu/curriculum/?gf_page=print-entry&fid=5&lid=58&notes=1
Page 2 of 3
Print Preview : New/Revised Academic Policy : Bulk Print
1/21/16, 12:06 PM
Approve
Today's Date
16/12/01
Further comments
None
For the School Curriculum Committee:
Does this policy fit the needs of the school?
Yes
Comments justifying this determination?
Concur with Dean's comments.
This committee approves/denies advancement of this policy proposal (EPC)
Approve
Today's Date
01/19/2016
For APIRC:
Does this policy fit the needs of the school/program/university?
Yes
This committee approves/denies advancement of this policy proposal (APIRC)
Approve
Today's Date
13/01/16
http://www.highpoint.edu/curriculum/?gf_page=print-entry&fid=5&lid=58&notes=1
Page 3 of 3
Economics Department Academic Policy Proposal
Awarding Credit for Cambridge International Exam Economics Scores
Date Approved by Department: 11-13-2015
Date Submitted to APIRC: 1-11-2016
The Economics Department recommends the following guidelines for awarding credit to
incoming students who have taken the Cambridge International Exams in Economics:
• AS-Level (1 year of study) A or B score = credit for ECO 2030 or ECO 2050, but not both.
• A-Level (2 years of study) B or C score = credit for ECO 2030 or ECO 2050, but not both.
• A-Level (2 years of study) A* or A score = credit for both ECO 2030 and ECO 2050.
How do CIE equate to AP exams?
For A-levels (2 years of study)
CIE
AP
CIE
A
5
A/B
B/C
4
C/D
D/E 3
E
For AS-levels (1 year of study)
AP
5
4
3
For lots and lots of statistics, numbers and background information on grading, go
here.
1
Educational Policies Committee
Course Proposal Form
Date:_Sept. 24, 2012
Please get signatures on this form. Then, scan the signed form and the course syllabus together, and email the
electronic file to your EPC representative or other contact person. The latter will email all department-related
files as a package to the EPC Chair. The Registrar must assign a tentative number for new courses, prior to
submission.
Department: Accounting, Finance, and Economics
Course number: ECO 2030
Course Title: Principles of Macroeconomics
Prerequisite: Sophomore Standing
Course Description: Demand and supply, free enterprise and capitalism, GDP and the business cycle,
unemployment, inflation, fiscal and monetary policy, banking, international trade and finance, and other
related topics. The course will help students understand current economic problems and policy debates.
Please answer the following:
Semester Credit Hours: ____4______
Graded or Non Graded: _____Graded____X__
Course will be offered?: Fall __X__ Spring __X__
Alternate Years Beginning? ________
Will this course be offered in the Evening? Yes ____ No ___X__ Do not know _____.
This course is designed to be: (check all appropriate lines):
_____
a course to satisfy the University Core Requirement in __________________________________ (C)
__X__
a required course in the major
_____
a Special Topics Course
____
an elective for majors
___X__ an Honors course
_____
an experiential learning course (EL)
_____
an UR/CW course (UR/CW)
_____
a general elective for majors and non majors
_____
a Global Studies course (GBS)
____
an information literacy (technology infused) course
_____
a civic engagement course (CE)
__X___ existing course:
_____
new course
____
combination of previous courses:
_____
meets Area I requirement (AI)
__X___ meets Area II requirement (AII)
The following should be attached: [if a brand-new course]
(1) Rationale for the course:
(2) Do your attachments mention any related changes, such as changes in the departmental majors/minors and their
associated catalog copy? Note: If you are significantly revising a major, please include a two-column before-and-after
table, showing the current major and the proposed major. Also include your plan for students who will graduate using
older catalog versions – new courses which substitute for ones you are dropping, etc.
(3) Expenditures
(4) If the changes affect other department(s), include the signed EPC Departmental Consultation form(s) in which
they acknowledge they have been consulted in detail (their signature does not imply approval).
(5) A thorough syllabus including:
• Course description • course objectives (specific and clear) • course texts and other reading requirements
• writing and speech detailed requirements (esp. if course is intended for Gen. Education credit) • special
projects, research, etc. required • grading scale and % of grade from each assigned area • instructional
facilities other than classroom/lab • a tentative week-by-week list of course topics
Date:
Approved
Department Chair
Date
Reviewed
Dean of your School/College
Date
Reviewed
Vice President for Academic Affairs
2
ECO 2030 – Principles of Macroeconomics
Fall 2013
4-credit statement: As a four credit class, this course will now meet for 200 minutes a
week (full contact minutes). One use of the additional time will be to cover
international finance and the balance-of-payments, a requirement for students
preparing for the CFA exam. Professors at their individual discretion will also cover
existing topics in greater depth, or add additional macroeconomics-related topics such
as U.S. macroeconomic history or controversies over entitlement-program reform.
Some of the additional time may also be used for in-class experiments, debates, and/or
other experiential learning activities related to the material.
Instructor:
Office:
Office Hours:
Phone:
e-mail:
Texts:
TBA
TBA
TBA
TBA
TBA
Campbell McConnell, Stanley Brue, and Sean Flynn, Economics, 19th ed.
(New York: McGraw-Hill/Irwin, 2012), ISBN 978-0-07-351144-3, or a
similar Principles of Economics textbook.
Grading Scale: (Instructors may also use a +/- system at their discretion)
90-100%
80-89%
70-79%
60-69%
59% or below
A
B
C
D
F
COURSE OBJECTIVES AND SCOPE:
To provide the students with an introduction to the major topical areas of
macroeconomics, their evolution, and practical application. The course is designed to be
helpful to prospective business managers by providing a framework for future studies in
economics. Students must demonstrate knowledge of the material through practical
application in the following ways:
3
[For EPC reference purposes]
Desired Attributes of High Point University Graduates
3. OUR GRADUATES WILL BE ABLE TO REASON QUANTITATIVELY.
Objective 1: Students will be able to interpret mathematical models such as formulas,
graphs, tables, and schematics, and draw inferences from them.
Objective 2: Students will be able to represent mathematical information symbolically,
visually, numerically, and verbally.
Objective 3: Students will be able to use arithmetical, algebraic, geometric, or statistical
methods to solve problems.
4. OUR GRADUATES WILL UNDERSTAND THE METHODS OF THE NATURAL AND SOCIAL
SCIENCES AND THE IMPACT OF SCIENCE ON SOCIETY.
Objective 1: Students will demonstrate that they can use the scientific method of
inquiry, including the formulation of a problem, gathering and interpreting data,
and deductive reasoning .
Objective 2: Students will know the essential principles, theories, and research findings
of at least one area of natural science and one area of social science.
Objective 3: Students will know how to use scientific apparatus for gathering
information and for discovery.
Objective 4: Students will understand the function of science and its impact in the
modern world. [Interpreted below to mean policy analysis.]
Terminology:
SLO = Student Learning Objective
DA = Desired Attribute correspondence
SLO 1ECO 2030
SLO 2ECO 2030
SLO 3ECO2030
SLO 4ECO2030
Student Learning Objective
Be able to use the demand and supply graph to predict equilibrium
price and quantity, and their changes over time.
Discuss the basic institutions of a free-market system.
Explain the concept of GDP, how it is calculated, and whether it can be
used as a measure of social well-being.
Define the business cycle and describe its related patterns in GDP,
unemployment, and inflation.
HPU DA
3.1, 3.2,
3.3, 4.2
4.2
3.1, 4.2
4.2
4
SLO 5ECO 2030
SLO 6ECO 2030
SLO 7ECO 2030
SLO 8ECO 2030
SLO 9ECO 2030
SLO 10ECO 2030
SLO 11ECO 2030
SLO 12ECO 2030
Explain how unemployment is measured, debates about this
measurement, and major types of unemployment and their causes. Be
able to find recent unemployment statistics.
Be able to explain how we measure inflation, debates about this
measurement, and inflation’s causes. Be able to find recent inflation
figures.
Be able to identify and define basic macro theories of consumption
and investment and their predictions.
Be able to describe the concept of an aggregate demand and supply
graph.
Debate whether the macro-economy can self-correct from businesscycle problems.
Describe fiscal policy and debate its usefulness. Explain budget deficits
and surpluses, and the public debt.
Describe the Federal Reserve System and explain how and why the
Fed conducts expansionary and contractionary policy.
Describe the basic concepts of world trade, trade barriers, balance-ofpayments, and exchange rates.
Tentative Schedule of Topics (ordering and depth may vary based on discretion of
instructor):
Week 1:
Week 2:
Week 3:
Week 4:
Week 5:
Week 6:
Week 7:
Week 8:
Week 9:
Week 10:
Week 11:
Week 12:
Week 13:
Week 14:
Week 15:
Week 16:
Week 17
Introduction; production possibilities.
Demand and supply
Free market institutions
GDP
Unemployment
Inflation
Macroeconomic equilibrium
Consumption
Continuation of topics in the fall, or Spring Break in spring
Investment
Aggregate demand and supply
Fiscal policy
Money and monetary policy
Thanksgiving Break in fall, or international trade and finance in spring
International trade and finance
Other macroeconomic topics as time permits
Final Exam
3.1, 3.2,
4.2
3.1, 4.2
4.2
3.1, 4.2
4.2
4.2, 4.4
4.2, 4.4
4.2
5
Educational Policies Committee
Course Proposal Form
Date:_Sept. 24, 2012
Please get signatures on this form. Then, scan the signed form and the course syllabus together, and email the
electronic file to your EPC representative or other contact person. The latter will email all department-related
files as a package to the EPC Chair. The Registrar must assign a tentative number for new courses, prior to
submission.
Department: Accounting, Finance, and Economics
Course number: ECO 2050
Course Title: Principles of Microeconomics
Prerequisite: Sophomore Standing
Course Description: Theories of consumer and producer behavior, including demand and supply. elasticity, and
consumer utility theory. Introduction to pure competition, monopoly, and other market structures in which
businesses operate. Discussion of issues such as mergers and antitrust policy, regulation, cost-benefit theory,
externalities and public goods, resource markets, poverty and income inequality, and other applied
microeconomic issues.
Please answer the following:
Semester Credit Hours: ____4______
Graded or Non Graded: _____Graded____X__
Course will be offered?: Fall __X__ Spring __X__
Alternate Years Beginning? ________
Will this course be offered in the Evening? Yes ____ No ___X__ Do not know _____.
This course is designed to be: (check all appropriate lines):
_____
a course to satisfy the University Core Requirement in __________________________________ (C)
__X__
a required course in the major
_____
a Special Topics Course
____
an elective for majors
_____
an Honors course
_____
an experiential learning course (EL)
_____
an UR/CW course (UR/CW)
_____
a general elective for majors and non majors
_____
a Global Studies course (GBS)
____
an information literacy (technology infused) course
_____
a civic engagement course (CE)
__X___ existing course:
_____
new course
____
combination of previous courses:
_____
meets Area I requirement (AI)
__X___ meets Area II requirement (AII)
The following should be attached: [if brand-new course]
(1) Rationale for the course:
(2) Do your attachments mention any related changes, such as changes in the departmental majors/minors and their
associated catalog copy? Note: If you are significantly revising a major, please include a two-column before-and-after
table, showing the current major and the proposed major. Also include your plan for students who will graduate using
older catalog versions – new courses which substitute for ones you are dropping, etc.
(3) Expenditures:
(4) If the changes affect other department(s), include the signed EPC Departmental Consultation form(s) in which
they acknowledge they have been consulted in detail (their signature does not imply approval).
(5) A thorough syllabus including:
• Course description • course objectives (specific and clear) • course texts and other reading requirements
• writing and speech detailed requirements (esp. if course is intended for Gen. Education credit) • special
projects, research, etc. required • grading scale and % of grade from each assigned area • instructional
facilities other than classroom/lab • a tentative week-by-week list of course topics
Date:
Approved
Department Chair
Date
Reviewed
Dean of your School/College
Date
Reviewed
Vice President for Academic Affairs
6
ECO 2050 – Principles of Microeconomics
Fall 2013
4-credit statement: As a four credit class, this course will now meet for 200 minutes a
week (full contact minutes). Some topics will be covered in greater depth, such as wage
determination. Professors at their individual discretion will also cover new examples of
applied microeconomics such as environmental economics or health economics. Some
of the additional time may be used for in-class experiments, debates, and/or other
experiential learning activities related to the material.
Instructor:
Office:
Office Hours:
Phone:
e-mail:
Texts:
TBA
TBA
TBA
TBA
TBA
Campbell McConnell, Stanley Brue, and Sean Flynn, Economics, 19th ed.
(New York: McGraw-Hill/Irwin, 2012), ISBN 978-0-07-351144-3, or a
similar Principles of Economics textbook.
Grading Scale: (Instructors may also use a +/- system at their discretion)
90-100%
80-89%
70-79%
60-69%
59% or below
A
B
C
D
F
COURSE OBJECTIVES AND SCOPE:
The course will provide the student with an introduction to the major topical areas of
microeconomics and their practical application. The course is designed to be helpful to
prospective business managers by providing a framework for future studies in
economics. Students must demonstrate knowledge of the material through practical
application in the following ways:
[For EPC reference purposes]
Desired Attributes of High Point University Graduates
3. OUR GRADUATES WILL BE ABLE TO REASON QUANTITATIVELY.
Objective 1: Students will be able to interpret mathematical models such as formulas,
graphs, tables, and schematics, and draw inferences from them.
Objective 2: Students will be able to represent mathematical information symbolically,
visually, numerically, and verbally.
7
Objective 3: Students will be able to use arithmetical, algebraic, geometric, or statistical
methods to solve problems.
4. OUR GRADUATES WILL UNDERSTAND THE METHODS OF THE NATURAL AND SOCIAL
SCIENCES AND THE IMPACT OF SCIENCE ON SOCIETY.
Objective 1: Students will demonstrate that they can use the scientific method of
inquiry, including the formulation of a problem, gathering and interpreting data,
and deductive reasoning .
Objective 2: Students will know the essential principles, theories, and research findings
of at least one area of natural science and one area of social science.
Objective 3: Students will know how to use scientific apparatus for gathering
information and for discovery.
Objective 4: Students will understand the function of science and its impact in the
modern world.
Terminology:
SLO = Student Learning Objective
DA = Desired Attribute correspondence
SLO 1ECO 2050
SLO 2ECO 2050
SLO 3ECO 2050
SLO 4ECO 2050
SLO 5ECO 2050
SLO 6ECO 2050
SLO 7ECO 2050
SLO 8-
Student Learning Objective
Use the demand and supply graph to predict equilibrium price and
quantity, and their changes over time.
Describe and be able to explain the price elasticity of demand
concept, and its numerical interpretation.
Explain the concept of utility and the rules for utility maximization.
Identify the following for a purely competitive industry:
• marginal revenue/demand curve
• marginal cost curve
• average total cost curve
• point of maximum profit and the profit-maximizing rule
Describe company behavior in monopoly, monopolistic competition,
and oligopoly industries.
Debate the benefits and costs of mergers and antitrust regulation.
Describe cost-benefit analysis and its applications.
Describe public goods and externalities, and their policy relevance.
HPU DA
3.1, 3.2,
3.3, 4.2
3.1, 4.2
4.2
3.1, 3.3,
4.2
4.2
4.2, 4.4
4.2, 4.4
4.2, 4.4
8
ECO 2050
SLO 9ECO 2050
SLO 10ECO 2050
SLO 11ECO 2050
Describe wage determination in a purely competitive labor market.
Explain important concepts in poverty and income distribution
analysis.
Apply microeconomics tools and logic in analyzing other public policy
issues, as assigned by the professor.
Tentative Schedule of Topics (ordering and depth may vary based on discretion of
instructor):
Week 1:
Week 2:
Week 3:
Week 4:
Week 5:
Week 6:
Week 7:
Week 8:
Week 9:
Week 10:
Week 11:
Week 12:
Week 13:
Week 14:
Week 15:
Week 16:
Week 17:
Demand and Supply
Elasticity of Demand and Supply
Utility Maximization
Production and Cost
Pure Competition in the Short Run
Pure Competition in the Long Run
Pure Monopoly
Monopolistic Competition
Continuation of topics in the fall, or Spring Break in spring
Oligopoly, Mergers, and Antitrust Policy
Public Goods, Externalities, and Cost-Benefit Analysis
Environmental Economics (as time permits)
Resource Markets and Wage Determination
Thanksgiving Break in fall, or Income Inequality and Poverty
Income Inequality and Poverty
Other applied microeconomic topics (as time permits)
Final Exam
3.1, 4.2
4.2, 4.4
4.1, 4.2,
4.4
SYLLABUS
Cambridge International AS and A Level
Economics
9708
For examination in June and November 2016, 2017 and 2018.
Also available for examination in March 2016, 2017 and 2018
for India only.
Cambridge Advanced
What has changed in Cambridge International AS and A Level Economics 9708 for 2016?
Availability
This syllabus is for examination in 2016, 2017 and 2018.
If your candidates studied the 2015 syllabus please be aware of the following:
•
Assessments in the 2016 examination series are based on the revised syllabus.
•
Candidates can carry forward the result of their Cambridge International AS Level assessments
in 2015 to complete the Cambridge International A Level in 2016 (subject to the usual time
limit rules for carry forwards). The Cambridge International A Level assessments in the 2016
examination series are based on the revised syllabus.
•
Assessments for candidates retaking Cambridge International AS or A Level in 2016 are based on
the revised syllabus.
Assessment changes
•
For 2016, there are four assessment objectives:
–
AO1 Knowledge and understanding – 30%
–
AO2 Application – 20%
–
AO3 Analysis – 30%
–
AO4 Evaluation – 20%
Communication has been included in AO3 Analysis.
•
The Paper 3 examination has increased from 1 hour to 1 hour 15 minutes.
Syllabus content changes
•
Syllabus content has been refreshed and the seven topic areas in the 2015 syllabus have been
reorganised and presented within five topic areas:
1. Basic economic ideas and resource allocation
2. The price system and the micro economy
3. Government microeconomic intervention
4. The macro economy
5. Government macro intervention
Examples of economic concepts and terms which were previously listed below the topic areas
have been integrated within the topic content.
An overview of the syllabus topics can be found on pages 8 and 9.
•
You are advised to read the whole of the syllabus before planning your teaching programme.
Cambridge International Examinations retains the copyright on all its publications. Registered Centres are
permitted to copy material from this booklet for their own internal use. However, we cannot give permission
to Centres to photocopy any material that is acknowledged to a third party even for internal use within a
Centre.
® IGCSE is the registered trademark of Cambridge International Examinations
© Cambridge International Examinations 2014
Contents
Introduction .......................................................................................................................... 2
Welcome
Why Cambridge International Examinations?
Why Cambridge International AS and A Levels?
Why Cambridge International AS and A Level Economics?
Teacher support
1. Syllabus overview ........................................................................................................... 8
1.1 Content
1.2 Assessment
2. Syllabus aims and assessment objectives ................................................................... 12
2.1
2.2
2.3
2.4
Syllabus aims
Assessment objectives
Relationship between assessment objectives and components
Relationship between assessment objectives and the qualifications
3. Syllabus content ........................................................................................................... 14
3.1 AS Level content – Paper 1 and Paper 2
3.2 Additional A Level content – Paper 3 and Paper 4
4. Glossary of command words........................................................................................ 25
5. Other information ......................................................................................................... 26
Equality and inclusion
Language
Grading and reporting
Entry codes
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Welcome
Cambridge International AS and A Level Economics encourages learners to explore their subject
in depth. The syllabus has been designed, in consultation with teachers and universities, to help
learners develop not only subject knowledge, but also a strong understanding of some of the key
concepts that are critical to mastering the subject.
All our syllabuses are reviewed and updated regularly so that they reflect the latest thinking of international
experts and practitioners, and take account of the different national contexts in which they are taught.
Consultation is an important part of the way we develop our syllabuses.
Consulting teachers
Consulting universities
Teachers at Cambridge schools worldwide help
us to shape our Cambridge International AS and A
Level syllabuses. The feedback contributes to the
development of syllabus content, assessments and
support materials. Consulting teachers ensures that
our materials are designed carefully around their
needs and the needs of their learners.
Like teachers, universities help to shape our
Cambridge International AS and A Level syllabuses.
We consult with leading higher education
institutions to make sure the syllabuses encourage
learners to get a firm grasp of the subject’s key
concepts and develop the skills necessary for
success at university.
Key concepts
Key concepts are essential ideas, theories, principles or mental tools that help learners to develop
a deep understanding of their subject and make links between the different topics. The key concepts
that this syllabus is designed to develop are detailed on page 5. The teaching support package helps
teachers integrate the key concepts into their teaching, showing how they fit into the overall syllabus
and suggesting ways to teach them with each topic.
Teacher support
Our comprehensive teacher support will help you deliver the syllabus confidently and effectively.
The support includes resources for teaching and learning as well as exam preparation. Learn more on
page 7.
Cambridge International AS and A Levels prepare students well for university
because they’ve learnt to go into a subject in considerable depth. There’s that
ability to really understand the depth and richness and the detail of a subject. It’s a
wonderful preparation for what they are going to face at university.
Christoph Guttentag, Dean of Undergraduate Admissions, Duke University, USA
2
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Why Cambridge International Examinations?
Cambridge International Examinations is the world’s largest provider of international education
programmes and qualifications for 5 to 19 year olds. We are a part of Cambridge Assessment,
a department of the University of Cambridge, trusted for excellence in education, and a
not-for-profit organisation. We invest constantly in research and development to improve our
programmes and qualifications.
We understand education. More than 9000 schools in over 160 countries are part of our Cambridge learning
community. We are committed to providing qualifications that are relevant, accurate, reliable, affordable and
recognised by universities and employers worldwide. Learners are at the heart of what we do and we are
committed to their development and future success.
Cambridge learners
Cambridge programmes and qualifications develop not only content but also skills. We help learners
to bridge the gap to the next stage of education and the world of work. We encourage Cambridge
learners to be:
•
confident in working with information and ideas – their own and those of others
•
responsible for themselves, responsive to and respectful of others
•
reflective as learners, developing their ability to learn
•
innovative and equipped for new and future challenges
•
engaged intellectually and socially ready to make a difference.
Responsible
Confident
Reflective
Cambridge
learners
Engaged
Innovative
Learn more about the Cambridge learner attributes in Chapter 2 of our Implementing the curriculum
with Cambridge guide at www.cie.org.uk/curriculumguide
Back to contents page
www.cie.org.uk/alevel
3
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Why Cambridge International AS and A Levels?
Cambridge International AS and A Levels are international in outlook, but retain a local relevance.
The syllabuses provide opportunities for contextualised learning and the content has been created
to suit a wide variety of schools, avoid cultural bias and develop essential lifelong skills, including
creative thinking and problem-solving.
Our aim is to balance knowledge, understanding and skills in our qualifications to enable candidates to
become effective learners and to provide a solid foundation for their continuing educational journey.
Cambridge International AS and A Levels give learners building blocks for an individualised curriculum that
develops their knowledge, understanding and skills.
Cambridge International AS and A Level curricula are flexible. It is possible to offer almost any combination
from a wide range of subjects. Cambridge International A Level is typically a two-year course, and
Cambridge International AS Level is typically one year. Some subjects can be started as a Cambridge
International AS Level and extended to a Cambridge International A Level.
There are three possible assessment approaches for Cambridge International AS and A Level:
Option two
Option three
(remainder of A Level)
Cambridge International
AS Level
Cambridge International
AS Level
(standalone AS)
(AS is first half of A Level)
Learners take the Cambridge
International AS Level only. The
syllabus content for Cambridge
International AS Level is half
of a Cambridge International
A Level programme.
Learners take the Cambridge
International AS Level in Year 1 and
in Year 2 complete the Cambridge
International A Level.
Cambridge
International
A Level
Year 1
Option one
Year 2
Cambridge International
A Level
Learners take all papers of the
Cambridge International A Level course
in the same examination series, usually
at the end of the second year of study.
Every year thousands of learners with Cambridge International AS and A Levels gain places at leading
universities worldwide. Cambridge International AS and A Levels are accepted and valued by top
universities around the world including those in the UK, US (including Ivy League universities), European
nations, Australia, Canada and New Zealand. Learners should check the university website for specific
entry requirements before applying.
Did you know?
Many universities accept Cambridge International AS Levels in their own right as qualifications
counting towards entry to courses in the same or other related subjects. Many learners who take
Cambridge International AS Levels also choose to progress to Cambridge International A Level.
4
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Why Cambridge International AS and A Level Economics?
The study of Cambridge International AS and A Level Economics allows learners to explore
concepts and theories which can be applied to the way that modern economies work.
Cambridge learners develop the ability to explain, evaluate and analyse economic issues and
arguments. They gain lifelong skills and a solid foundation for further study.
Key concepts
The key concepts which run through the study of economics are set out below. These key concepts
can help teachers think about how to approach their teaching in order to encourage learners to make
links between topics and develop a deep overall understanding of the subject. The teaching support
package gives teachers guidance on integrating the key concepts into their teaching. See page 7 for more
information on our teacher support.
As a teacher, you will refer again and again to these concepts, which can serve as tools when considering
both familiar and unfamiliar issues and contexts in economics.
•
Scarcity and choice
The fundamental problem in economics is that resources are scarce and wants are unlimited, so there is
always a choice required between competing uses for the resources.
•
The margin and change
Decision-making by individuals, firms and governments is based on choices at the margin; that is, once
behaviour has been optimised, any change will be detrimental as long as conditions remain the same.
•
Equilibrium and efficiency
Prices are set by markets, are always moving in to and out of equilibrium, and can be both efficient and
inefficient in different ways and over different time periods.
•
Regulation and equity
There is a trade-off between, on the one hand, freedom for firms and individuals in unregulated
markets and, on the other hand, greater social equality and equity through the government regulation of
individuals and markets.
•
Progress and development
Economics studies how societies can progress in measurable money terms and develop in a wider more
normative sense.
Guided learning hours
Guided learning hours give an indication of the amount of contact time teachers need to have with learners
to deliver a particular course. Our syllabuses are designed around 180 guided learning hours for Cambridge
International AS Level, and around 360 guided learning hours for Cambridge International A Level.
These figures are for guidance only. The number of hours needed to gain the qualification may vary
depending on local practice and the learners’ previous experience of the subject.
Prior learning
Candidates beginning this course are not expected to have studied economics previously.
Progression
Cambridge International A Level Economics provides a suitable foundation for the study of Economics or
related courses in higher education. Equally it is suitable as part of a course of general education.
Cambridge International AS Level Economics constitutes the first half of the Cambridge International A Level
course in Economics and therefore provides a suitable foundation for the study of Economics at Cambridge
International A Level and thence for related courses in higher education. Depending on local university
entrance requirements, it may permit or assist progression directly to university courses in Economics or
some other subjects. It is also suitable as part of a course of general education.
Back to contents page
www.cie.org.uk/alevel
5
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Teachers and learners should take into account that, in some countries, universities advise that some
combinations of subjects with similar content should be avoided where possible, for example Economics,
Business Studies and Accounting. Learners are advised to contact universities in advance of making
decisions about subject combinations that include two or more of these subjects.
For more information about the relationship between the Cambridge International AS Level and Cambridge
International A Level see the ‘Assessment’ section of the syllabus overview.
How can I find out more?
If you are already a Cambridge school
You can make entries for this qualification through your usual channels. If you have any questions,
please contact us at [email protected]
If you are not yet a Cambridge school
Learn more about the benefits of becoming a Cambridge school from our website
at www.cie.org.uk/startcambridge
Email us at [email protected] to find out how your organisation can register to become a
Cambridge school.
Cambridge AICE
Cambridge AICE Diploma is the group award of the Cambridge International AS and A Level. It gives
schools the opportunity to benefit from offering a broad and balanced curriculum by recognising the
achievements of candidates who pass examinations from different curriculum groups.
A Cambridge International A Level counts as a double-credit qualification and a Cambridge International
AS Level counts as a single-credit qualification within the Cambridge AICE Diploma award framework.
Learn more
For more details go to www.cie.org.uk/aice
Our research has shown that students who came to the university with a
Cambridge AICE background performed better than anyone else that came to the
university. That really wasn’t surprising considering the emphasis they have on critical
research and analysis, and that’s what we require at university.
John Barnhill, Assistant Vice President for Enrolment Management, Florida State University, USA
6
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Introduction
Teacher support
We offer a wide range of practical and innovative support to help teachers plan and deliver our
programmes and qualifications confidently.
The support package for our Cambridge International AS and A Levels will help teachers integrate key
concepts into their teaching, showing how they fit into the overall syllabus and suggesting ways to teach
them within each topic. It also gives teachers access to a worldwide teaching community enabling them to
connect with other teachers, swap ideas and share best practice.
We offer a customised support package for each subject. Find out more about the specific support for this
syllabus at www.cie.org.uk/alevelsupport
Teaching and learning resources
Exam preparation resources
• Schemes of work provide teachers with a
• Past question papers and mark schemes so
teachers can give your learners the opportunity
to practise answering different questions.
medium-term plan with ideas on how to deliver
the course.
• Example candidate responses to help teachers
to see the level of performance needed to achieve
key grades and understand exactly what
examiners are looking for.
• Endorsed textbooks produced by leading
publishers. We have quality checked these
materials to make sure that they match the
syllabus well.
• Principal examiner reports describing learners’
overall performance on each part of the papers.
The reports give insight into common
misconceptions shown by learners, which
teachers can address in lessons.
Cambridge
• Resource lists to help support teaching,
including textbooks and websites.
Professional development
International
AS and A Level
support for
teachers
Face-to-face training
We hold workshops around the world to support
teachers in delivering Cambridge syllabuses and
developing their skills.
Online training
We offer self-study and tutor-led online training
courses via our virtual learning environment. A
wide range of syllabus-specific courses and skills
courses is available. We also offer training via
video conference and webinars.
Qualifications
We offer a wide range of practice-based qualifications
at Certificate and Diploma level, providing a
framework for continuing professional development.
Back to contents page
Learn more
Find out more about specific
support for this syllabus at
www.cie.org.uk/alevelsupport
Visit our online resource bank and community
forum at teachers.cie.org.uk
Useful links
Customer Services www.cie.org.uk/help
LinkedIn http://linkd.in/cambridgeteacher
Twitter @cie_education
Facebook www.facebook.com/cie.org.uk
www.cie.org.uk/alevel
7
Cambridge International AS and A Level Economics 9708 syllabus Syllabus overview
1.
Syllabus overview
1.1 Content
This table gives an overview of the syllabus content for Cambridge International AS and A Level Economics.
1. Basic economic
ideas and resource
allocation
2. The price system
and the micro
economy
3. Government
microeconomic
intervention
All candidates study these AS Level
topics
A Level candidates also study these
additional topics
•
Scarcity, choice and opportunity
cost
•
Efficient resource allocation
•
Externalities and market failure
•
Positive and normative statements
•
•
Factors of production
Social costs and benefits;
cost-benefit analysis
•
Resource allocation in different
economic systems and issues of
transition
•
Production possibility curves
•
Money
•
Classification of goods and services
•
Demand and supply curves
•
Law of diminishing marginal utility
•
Price elasticity, income elasticity
and cross-elasticities of demand
•
Indifference curves
•
Budget lines
•
Price elasticity of supply
•
•
Interaction of demand and supply
Types of cost, revenue and profit,
short-run and long-run production
•
Market equilibrium and
disequilibrium
•
Different market structures
•
Growth and survival of firms
•
Consumer and producer surplus
•
Differing objectives of a firm
•
Maximum and minimum prices
•
•
Taxes (direct and indirect)
•
Subsidies
Policies to achieve efficient
resource allocation and correct
market failure
•
Transfer payments
•
•
Direct provision of goods and
services
Equity and policies towards income
and wealth redistribution
•
•
Nationalisation and privatisation
Labour market forces and
government intervention:
•
8
www.cie.org.uk/alevel
–
Demand and supply of labour
–
Wage determination in perfect
markets
–
Wage determination in
imperfect markets
Government failure in
microeconomic intervention
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus overview
4. The macro
economy
5. Government
macro intervention
Back to contents page
All candidates study these AS Level
topics
A Level candidates also study these
additional topics
•
Aggregate Demand and Aggregate
Supply analysis
•
Economic growth, economic
development and sustainability
•
Inflation
•
National Income statistics
•
Balance of payments
•
Classification of countries
•
Exchange rates
•
Employment/unemployment
•
The terms of trade
•
The circular flow of income
•
Principles of absolute and
comparative advantage
•
Money supply (theory)
•
Keynesian and Monetarist schools
•
Protectionism
•
The demand for money and
interest rate determination
•
Policies towards developing
economies; policies of trade and
aid
•
Types of policy: fiscal, monetary
and supply side policy
•
Government macro policy aims
•
Inter-connectedness of problems
•
Policies to correct balance of
payments disequilibrium
•
Effectiveness of policy options to
meet all macroeconomic objectives
•
Policies to correct inflation and
deflation
www.cie.org.uk/alevel
9
Cambridge International AS and A Level Economics 9708 syllabus Syllabus overview
1.2 Assessment
For Cambridge International AS and A Level Economics, candidates:
•
take Papers 1 and 2 only (for the Cambridge International AS Level qualification)
or
•
follow a staged assessment route by taking Papers 1 and 2 (for the Cambridge International AS Level
qualification) in one series, then Papers 3 and 4 (for the Cambridge International A Level qualification) in
a later series
or
•
take Papers 1, 2, 3 and 4 in the same examination series, leading to the full Cambridge International
A Level.
All components are externally assessed.
Component
Weighting
AS Level
A Level
40%
20%
Section A: one data response question (20 marks)
30%
15%
Section B: one structured essay from a choice of three (20 marks)
30%
15%
Paper 1 Multiple Choice
1 hour
30 multiple choice questions based on the AS Level syllabus content
30 marks
Paper 2 Data Response and Essay
1 hour 30 minutes
Based on the AS Level syllabus content
40 marks
Paper 3 Multiple Choice
1 hour 15 minutes
30 multiple choice questions based on the Additional A Level syllabus
content
15%
30 marks
Paper 4 Data Response and Essays
2 hours 15 minutes
Section A: one data response question (20 marks)
10%
Section B: two essays from a choice of six (50 marks)
25%
Based on the additional A Level syllabus content
70 marks
Note: Papers 3 and 4 test the additional syllabus content for A Level, but also require a knowledge and
understanding of the AS Level syllabus content.
10
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus overview
Availability
This syllabus is examined in the June and November examination series. This syllabus is also available for
examination in March for India only.
This syllabus is available to private candidates.
Detailed timetables are available from www.cie.org.uk/examsofficers
Centres in the UK that receive government funding are advised to consult the Cambridge website
www.cie.org.uk for the latest information before beginning to teach this syllabus.
Combining this with other syllabuses
Candidates can combine this syllabus in an examination series with any other Cambridge syllabus, except:
•
syllabuses with the same title at the same level
Back to contents page
www.cie.org.uk/alevel
11
Cambridge International AS and A Level Economics 9708 syllabus Syllabus aims and assessment objectives
2.
Syllabus aims and assessment objectives
2.1 Syllabus aims
The syllabus aims to enable candidates to develop:
•
an understanding of the factual knowledge of economics
•
a facility for self-expression, not only in writing but also in using additional aids, such as statistics and
diagrams, where appropriate
•
the habit of using works of reference as sources of data specific to economics
•
the habit of reading critically to gain information about the changing economy we live in
•
an appreciation of the methods of study used by the economist, and of the most effective ways
economic data may be analysed, correlated, discussed and presented.
2.2 Assessment objectives
AO1 Knowledge and understanding
Demonstrate knowledge and understanding.
AO2 Application
Interpret and apply knowledge and understanding to information presented in written, numerical or graphical
form.
AO3 Analysis
Analyse economic issues and arguments, using relevant economic concepts, theories and information, and
communicate conclusions in a clear, reasoned manner.
AO4 Evaluation
Critically evaluate economic information, arguments, proposals and policies, taking into consideration relevant information and economic principles and distinguishing facts from hypothetical statements and value
judgements.
12
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus aims and assessment objectives
2.3 Relationship between assessment objectives and components
The approximate weightings allocated to each of the assessment objectives are summarised below.
The table shows the assessment objectives (AO) as a percentage of each component.
Component
AO1
%
AO2
%
AO3
%
AO4
%
Paper 1
40
25
25
10
Paper 2
25
20
30
25
Paper 3
40
25
25
10
Paper 4
25
15
30
30
2.4 Relationship between assessment objectives and
qualifications
The approximate weightings allocated to each of the assessment objectives are summarised below.
The table shows the assessment objectives (AO) as a percentage of each qualification.
Assessment
objective
Weighting in AS Level
%
Weighting in A Level
%
AO1
30
30
AO2
20
20
AO3
30
30
AO4
20
20
Back to contents page
www.cie.org.uk/alevel
13
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
3.
Syllabus content
Candidates for Cambridge International AS Level should study the AS Level content for Paper 1 and Paper 2.
Candidates for Cambridge International A Level should study all the syllabus content.
The AS and A Level syllabus content is divided into five topic areas:
1. Basic economic ideas and resource allocation
2. The price system and the micro economy
3. Government microeconomic intervention
4. The macro economy
5. Government macro intervention
3.1 AS Level content – Paper 1 and Paper 2
1.
Basic economic ideas and resource allocation (AS Level)
a) Scarcity, choice and opportunity cost
•
the fundamental economic problem
•
the meaning of scarcity and the inevitability
of choices at all levels (individual, firms,
governments)
•
the basic questions of what will be produced,
how and for whom
•
the meaning of the term, ‘ceteris paribus’
•
the margin and decision making at the margin
•
short run, long run, very long run
b) Positive and normative statements
•
the distinction between facts and value
judgements
c) Factors of production
•
the rewards to the factors of production: land,
labour, capital and enterprise
•
specialisation and division of labour
•
decision making in market, planned and mixed
economies
•
the role of the factor enterprise in a modern
economy
•
shape and shifts of the curve
•
constant and increasing opportunity costs
•
functions and characteristics in a modern
economy
•
barter, cash and bank deposits, cheques, near
money, liquidity
•
free goods, private goods (economic goods)
and public goods
•
merit goods and demerit goods as the outcome
of imperfect information by consumers.
d) Resource allocation in different economic
systems and issues of transition
e) Production possibility curves
f)
Money
g) Classification of goods and services
14
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
2.
The price system and the micro economy (AS Level)
a) Demand and supply curves
•
effective demand
•
individual and market demand and supply
•
factors influencing demand and supply
•
the meaning and calculation of elasticity of
demand
•
the range of elasticities of demand
•
the factors affecting elasticity of demand
•
the implications for revenue and business
decisions of price, income and cross-elasticities
of demand
•
meaning and calculation of elasticity of supply
•
the range of elasticities of supply
•
the factors affecting elasticity of supply
•
implications for speed and ease with which
businesses react to changed market conditions
d) Interaction of demand and supply
•
meaning of equilibrium and disequilibrium
e) Market equilibrium and disequilibrium
•
effects of changes in supply and demand on
equilibrium price and quantity
•
applications of demand and supply analysis
•
movements along and shifts of the demand
and supply curves
•
joint demand (complements) and alternative
demand (substitutes)
•
joint supply
•
the workings of the price mechanism; rationing,
signalling and the transmission of preferences
•
meaning and significance
•
how these are affected by changes in
equilibrium price and quantity
b) Price elasticity, income elasticity and
cross-elasticities of demand
c) Price elasticity of supply
f)
Consumer and producer surplus
Back to contents page
www.cie.org.uk/alevel
15
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
3.
Government microeconomic intervention (AS Level)
a) Maximum and minimum prices
•
meaning and effect on the market
b) Taxes (direct and indirect)
•
impact and incidence of taxes
•
specific and ad valorem taxes
•
average and marginal rates of taxation
•
proportional, progressive and regressive taxes
•
the Canons of Taxation
c) Subsidies
•
impact and incidence of subsidies
d) Transfer payments
•
meaning and effect on the market
e) Direct provision of goods and services
•
meaning and effect on the market
f)
Nationalisation and privatisation
•
meaning and effect on the market
4.
The macro economy (AS Level)
•
the shape and determinants of AD and AS
curves; AD = C + I + G + (X – M)
•
the distinction between a movement along and
a shift in AD and AS
•
the interaction of AD and AS and the
determination of the level of output, prices and
employment
•
the definition of inflation; degrees of inflation
and the measurement of inflation; deflation and
disinflation
•
the distinction between money values and real
data
•
the causes of inflation (cost-push and demandpull inflation)
•
the consequences of inflation
•
the components of the balance of payments
accounts (using the IMF/OECD definition):
current account; capital and financial account;
balancing item
•
meaning of balance of payments equilibrium
and disequilibrium
•
causes of balance of payments disequilibrium
in each component of the accounts
•
consequences of balance of payments
disequilibrium on domestic and external
economy
a) Aggregate Demand (AD) and Aggregate Supply
(AS) analysis
b) Inflation
c) Balance of payments
16
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
4.
The macro economy (AS Level) cont.
d) Exchange rates
e) The terms of trade
f)
Principles of absolute and comparative
advantage
g) Protectionism
Back to contents page
•
definitions and measurement of exchange rates
– nominal, real, trade-weighted exchange rates
•
the determination of exchange rates – floating,
fixed, managed float
•
the factors underlying changes in exchange
rates
•
the effects of changing exchange rates on the
domestic and external economy using AD,
Marshall-Lerner and J curve analysis
•
depreciation/appreciation
•
devaluation/revaluation
•
the measurement of the terms of trade
•
causes of changes in the terms of trade
•
the impact of changes in the terms of trade
•
the distinction between absolute and
comparative advantage
•
free trade area, customs union, monetary
union, full economic union
•
trade creation and trade diversion
•
the benefits of free trade, including the trading
possibility curve
•
the meaning of protectionism in the context of
international trade
•
different methods of protection and their
impact, for example, tariffs, import duties and
quotas, export subsidies, embargoes, voluntary
export restraints (VERs) and excessive
administrative burdens (‘red tape’)
•
the arguments in favour of protectionism
www.cie.org.uk/alevel
17
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
5.
Government macro intervention (AS Level)
a) Types of policy: fiscal policy, monetary policy,
and supply side policy
•
instruments of each policy
b) Policies to correct balance of payments
disequilibrium
•
assessment of the effectiveness of fiscal,
monetary and supply side policies to correct a
balance of payments disequilibrium
•
expenditure-reducing and expenditureswitching
•
assessment of the effectiveness of fiscal,
monetary and supply side policies to correct
inflation and deflation
c) Policies to correct inflation and deflation
3.2 Additional A Level content – Paper 3 and Paper 4
The content of the AS Level is assumed knowledge for the assessment of Paper 3 and Paper 4. However,
the AS Level content will not be the direct focus of questions in Paper 3 and Paper 4.
1.
Basic economic ideas and resource allocation (A Level)
a) Efficient resource allocation
b) Externalities and market failure
c) Social costs and benefits; cost-benefit analysis
18
www.cie.org.uk/alevel
•
productive and allocative efficiency
•
Pareto optimality
•
dynamic efficiency
•
reasons for market failure
•
positive and negative externalities for both
consumers and firms
•
inefficient resource allocation
•
social costs as the sum of private costs and
external costs
•
social benefits as the sum of private benefits
and external benefits
•
use of cost-benefit analysis in decision-making
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
2.
The price system and the micro economy (A Level)
a) Law of diminishing marginal utility
•
its relationship to derivation of an individual
demand schedule
•
equi-marginal principle
•
limitations of marginal utility theory; rational
behaviour versus behavioural economic models
b) Indifference curves and budget lines
•
income, substitution and price effects for
various types of goods
c) Types of cost, revenue and profit, short-run and
long-run production
•
short-run production function: fixed and variable
factors of production, total product, average
product and marginal product
•
d) Different market structures
e) Growth and survival of firms
Back to contents page
–
law of diminishing returns (law of variable
proportions)
–
marginal cost and average cost
–
short-run cost function – fixed costs versus
variable costs
–
explanation of shape of Short-Run Average
Cost (SRAC)
long-run production function
–
returns to scale
–
long-run cost function
–
explanation of shape of Long-Run Average
Cost (LRAC)
–
relationship between economies of scale
and decreasing costs
–
internal and external economies of scale
and diseconomies of scale
•
revenue: total, average and marginal
•
profit: normal and abnormal (supernormal)
•
perfect competition, imperfect competition
(monopoly, monopolistic competition, oligopoly,
natural monopoly)
•
structure of markets as explained by number of
buyers and sellers, nature of product, degree of
freedom of entry and nature of information
•
contestable markets and their implications
•
concentration ratio
•
reasons for small firms
•
integration, diversification, mergers, cartels
www.cie.org.uk/alevel
19
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
2.
The price system and the micro economy (A Level) cont.
f)
Differing objectives of a firm
•
•
•
traditional profit maximising objective of firm:
–
normal and abnormal profit
–
relation between elasticity and revenue
an understanding of other objectives of the
firm:
–
survival, strategic, satisficing, sales
maximisation
–
principal agent problem, for example the
divorce of ownership from control
–
behavioural analysis approach to the
decision-making of a firm; the Prisoner’s
Dilemma, 2 player Pay-off Matrix, kinked
demand curve
pricing policy:
–
•
3.
comparisons of performance of firms:
– revenue, output, profits, efficiency,
X-inefficiency, barriers to entry and exit,
price competition, non-price competition and
collusion
Government microeconomic intervention (A Level)
a) Policies to achieve efficient resource allocation
and correct market failure
b) Equity and policies towards income and wealth
redistribution
20
including price discrimination, limit
pricing, price leadership and mutual
interdependence in the case of oligopoly
(including game theory)
www.cie.org.uk/alevel
•
application of indirect taxes and subsidies
•
price and output decisions under nationalisation
and privatisation
•
prohibitions and licences
•
property rights
•
information
•
regulatory bodies, deregulation and direct
provision of goods and services
•
pollution permits
•
behavioural insights and ‘nudge’ theory
•
equity versus efficiency
•
price stabilisation
•
means tested benefits
•
transfer payments
•
progressive income taxes, inheritance and
capital taxes
•
negative income tax
•
poverty trap analysis
•
Gini coefficient and the Lorenz curve
•
inter-generational equity
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
3.
Government microeconomic intervention (A Level) cont.
c) Labour market forces and government
intervention:
(i) demand for and supply of labour
•
factors affecting demand for labour
•
derivation of individual firm’s demand for using
marginal revenue product theory
•
factors affecting supply for labour
•
net advantages and the long-run supply of
labour
(ii) wage determination in perfect markets
•
competitive product and factor market forces
determining wage differentials, transfer
earnings and economic rent
(iii) wage determination in imperfect markets
•
influence of trades unions on wage
determination
•
influence of government on wage
determination
•
monopsony
•
effectiveness of government policies
d) Government failure in microeconomic
intervention
Back to contents page
www.cie.org.uk/alevel
21
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
4.
The macro economy (A Level)
a) Economic growth, economic development and
sustainability
b) National Income statistics
c) Classification of countries
d) Employment/unemployment
22
www.cie.org.uk/alevel
•
definition of economic growth, economic
development and sustainability
•
actual versus potential growth in national
output; output gap; business (trade) cycle
•
factors contributing to economic growth
•
costs and benefits of growth, including using
and conserving resources
•
use of National Income statistics as measures
of economic growth and living standards
•
Gross Domestic Product (GDP)/Gross National
Product (GNP)/Gross National Income (GNI)
•
national debt (government or public sector
debt)
•
indicators of living standards and economic
development, monetary, non-monetary,
Human Development Index (HDI), Measure
of Economic Welfare (MEW), Human
Poverty Index (HPI), later supplanted by the
Multidimensional Poverty Index (MPI), and the
Kuznets curve
•
characteristics of developed, developing and
emerging (BRICS) economies: by population
growth and structure, income distribution,
economic structure, employment composition,
external trade and urbanisation in developing
economies – comparison of economic growth
rates and living standards over time and
between countries
•
size and components of labour force
•
labour productivity
•
full employment and natural rate of
unemployment
•
causes of unemployment
•
consequences of unemployment
•
types of unemployment
•
unemployment rate; patterns and trends in
(un)employment
•
difficulties involved in measuring
unemployment
•
policies to correct unemployment
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
4.
The macro economy (A Level) cont.
e) The circular flow of income
f)
Money supply (theory)
•
closed and open economies
•
the circular flow of income between
households, firms, government and the
international economy: the multiplier, average
and marginal propensities to save and consume
•
Aggregate Expenditure (AE) function
–
meaning, components of AE and their
determinants
–
income determination using AE and income
approach; and withdrawal (leakage) and
injection approach
–
inflationary and deflationary gaps;
full employment level of income and
equilibrium level of income
–
autonomous and induced investment; the
accelerator
•
Quantity theory of money (MV = PT)
•
broad and narrow money supply
•
sources of money supply in an open economy
(commercial banks and credit creation, role
of central bank, deficit financing, quantitative
easing, total currency flow)
•
transmission mechanism of monetary policy
g) Keynesian and Monetarist schools
•
different theoretical approaches to how the
macro economy functions
h) The demand for money and interest rate
determination
•
Liquidity Preference theory
i)
•
types of aid, nature of dependency
•
trade and investment, role of multinationals and
Foreign Direct Investment (FDI)
•
external debt, role of IMF and World Bank
•
impact of corruption, and importance of the
legal framework in an economy
Policies towards developing economies;
policies of trade and aid
Back to contents page
www.cie.org.uk/alevel
23
Cambridge International AS and A Level Economics 9708 syllabus Syllabus content
5.
Government macro intervention (A Level)
a) Government macro policy aims
•
on inflation, balance of payments, exchange
rates, unemployment, growth and
development
b) Inter-connectedness of problems
•
links between macroeconomic problems
and their interrelatedness, for example:
c) Effectiveness of policy options to meet all
macroeconomic objectives
24
www.cie.org.uk/alevel
–
relationship between internal and
external value of money
–
relationship between balance of
payments and inflation
–
trade-off between inflation and
unemployment; Phillips curve
•
problems arising from conflicts
between policy objectives on inflation,
unemployment, economic growth, balance
of payments, exchange rates and the
redistribution of income and wealth
•
existence of government failure in
macroeconomic policies
•
Laffer curve analysis
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Glossary of command words
4.
Glossary of command words
This glossary should prove helpful to candidates as a guide, although it is not exhaustive and it has
deliberately been kept brief. The number of marks allocated for any part of a question is a guide to the depth
required for the answer.
Command word
What it means
Calculate
Work out using the information provided
Define
Give the exact meaning of
Describe
Give a description of, explain the main features of
Identify
Name the key knowledge point
Illustrate
Give examples, use a diagram
Outline
Describe the key points without detail
State
Give a concise answer with little or no supporting argument required
Analyse
Explain the main points in detail, examine closely, separate into parts and
show how all the parts connect and link
Compare
Explain the similarities and differences between
Explain/how
Give clear reasons or make clear the meaning of, use examples and explain
the theory behind the question. This command word requires ‘Knowledge and
Understanding’ as well as ‘Application’
Consider
Give your thoughts about, with some justification
Assess
Show how important something is, give your judgement on
Comment upon
Give your reasoned opinion on, with explanations
Criticise
Give an opinion but support it with evidence
Discuss
Give the important arguments for and against, often requires a conclusion.
This command word requires ‘Analysis’ and ’Evaluation’
Justify
Explain why the arguments for an opinion are stronger than the arguments
against
Evaluate
Discuss the importance of, judge the overall worth of, make an attempt to
weigh up your opinions
To what extent
Give reasons for and against, come to a conclusion with a justification of
which arguments are strongest and which are weakest
Back to contents page
www.cie.org.uk/alevel
25
Cambridge International AS and A Level Economics 9708 syllabus Other information
5.
Other information
Equality and inclusion
Cambridge International Examinations has taken great care in the preparation of this syllabus and related
assessment materials to avoid bias of any kind. To comply with the UK Equality Act (2010), Cambridge has
designed this qualification with the aim of avoiding direct and indirect discrimination.
The standard assessment arrangements may present unnecessary barriers for candidates with disabilities
or learning difficulties. Arrangements can be put in place for these candidates to enable them to access
the assessments and receive recognition of their attainment. Access arrangements will not be agreed if
they give candidates an unfair advantage over others or if they compromise the standards being assessed.
Candidates who are unable to access the assessment of any component may be eligible to receive an
award based on the parts of the assessment they have taken.
Information on access arrangements is found in the Cambridge Handbook, which can be downloaded from
the website www.cie.org.uk/examsofficers
Language
This syllabus and the associated assessment materials are available in English only.
Grading and reporting
Cambridge International A Level results are shown by one of the grades A*, A, B, C, D or E, indicating
the standard achieved, A* being the highest and E the lowest. ‘Ungraded’ indicates that the candidate’s
performance fell short of the standard required for grade E. ‘Ungraded’ will be reported on the statement of
results but not on the certificate. The letters Q (result pending), X (no result) and Y (to be issued) may also
appear on the statement of results but not on the certificate.
Cambridge International AS Level results are shown by one of the grades a, b, c, d or e, indicating the
standard achieved, ‘a’ being the highest and ‘e’ the lowest. ‘Ungraded’ indicates that the candidate’s
performance fell short of the standard required for grade ‘e’. ‘Ungraded’ will be reported on the statement
of results but not on the certificate. The letters Q (result pending), X (no result) and Y (to be issued) may also
appear on the statement of results but not on the certificate.
If a candidate takes a Cambridge International A Level and fails to achieve grade E or higher, a Cambridge
International AS Level grade will be awarded if both of the following apply:
•
the components taken for the Cambridge International A Level by the candidate in that series included
all the components making up a Cambridge International AS Level
•
the candidate’s performance on these components was sufficient to merit the award of a Cambridge
International AS Level grade.
For languages other than English, Cambridge also reports separate speaking endorsement grades (Distinction,
Merit and Pass), for candidates who satisfy the conditions stated in the syllabus.
26
www.cie.org.uk/alevel
Back to contents page
Cambridge International AS and A Level Economics 9708 syllabus Other information
Entry codes
To maintain the security of our examinations we produce question papers for different areas of the world,
known as ‘administrative zones’. Where the entry code has two digits, the first digit is the component
number given in the syllabus. The second digit is the location code, specific to an administrative zone.
Entry codes and instructions for making entries can be found in the Cambridge Guide to Making Entries.
Other exams administration documents, including timetables and administrative instructions can be found at
www.cie.org.uk/examsofficers
Back to contents page
www.cie.org.uk/alevel
27
Cambridge International Examinations
1 Hills Road, Cambridge, CB1 2EU, United Kingdom
Tel: +44 (0)1223 553554 Fax: +44 (0)1223 553558
Email: [email protected] www.cie.org.uk
® IGCSE is the registered trademark of Cambridge International Examinations
© Cambridge International Examinations 2014
*5338068588*
SYLLABUS
Cambridge International AS and A Level
Economics (US)
9275
For examination in June and November 2015
This syllabus is available only to Centers taking part in the
Board Examination Systems (BES) Pilot.
If you have any questions about this syllabus, please contact Cambridge at
[email protected] quoting syllabus code 9275.
Cambridge Advanced
Changes to syllabus for 2015
This syllabus has been updated, but there are no significant changes.
Note
The subject content of this syllabus is the same as the international version. The range
of components available is limited to make coursework, if applicable, a mandatory part
of the syllabus. Because of this, there may be component numbers omitted in the list of
components.
Administration materials appear in UK English and are standard for all our international
customers. Please read the Cambridge Glossary alongside this syllabus. This is available from
our website.
Cambridge International Examinations retains the copyright on all its publications. Registered Centers are
permitted to copy material from this booklet for their own internal use. However, we cannot give permission
to Centers to photocopy any material that is acknowledged to a third party even for internal use within a
Center.
® IGCSE is the registered trademark of Cambridge International Examinations
© Cambridge International Examinations 2013
Contents
1. Introduction .................................................................................................................... 2
1.1
1.2
1.3
1.4
1.5
Why Choose Cambridge?
Why Choose Cambridge International AS and A Level?
Why Choose Cambridge International AS and A Level Economics?
Cambridge AICE (Advanced International Certificate of Education) Diploma
How Can I Find Out More?
2. Teacher support .............................................................................................................. 7
2.1 Resources
2.2 Resource Lists
2.3 Training
3. Curriculum Content at a Glance ...................................................................................... 8
4. Assessment at a Glance ............................................................................................... 10
5. Syllabus Goals and Assessment Objectives ................................................................. 12
5.1 Goals
5.2 Assessment Objectives
6. Curriculum Content ...................................................................................................... 14
6.1 Core (AS Level and A Level)
6.2 Supplement (A Level only)
7.
Appendix: Resource List ............................................................................................... 27
8. Other Information ......................................................................................................... 30
Introduction
1.
Introduction
1.1 Why Choose Cambridge?
Recognition
Cambridge International Examinations is the world’s largest provider of international education programs
and qualifications for students aged 5 to 19. We are part of Cambridge Assessment, a department of the
University of Cambridge, trusted for excellence in education. Our qualifications are recognized by the world’s
universities and employers.
Cambridge International AS or A Levels are recognized around the world by schools, universities, and
employers. The qualifications are accepted as proof of academic ability for entry to universities worldwide,
though some courses do require specific subjects.
Cambridge International A Levels typically take two years to complete and offer a flexible course of study
that gives students the freedom to select subjects that are right for them.
Cambridge International AS Levels often represent the first half of an A Level course but may also be taken
as a freestanding qualification. The content and difficulty of a Cambridge International AS Level examination
are equivalent to the first half of a corresponding Cambridge International A Level. Cambridge AS Levels
are accepted in all UK universities and carry half the weighting of an A Level. University course credit and
advanced standing are often available for Cambridge International AS and A Levels in countries such as the
USA and Canada.
Learn more at www.cie.org.uk/recognition
Excellence in Education
Our mission is to deliver world-class international education through the provision of high-quality curricula,
assessment, and services.
More than 9,000 schools are part of our Cambridge learning community. We support teachers in over
160 countries who offer their students an international education based on our curricula and leading to
our qualifications. Every year, thousands of students use Cambridge qualifications to gain admission to
universities around the world.
Our syllabi are reviewed and updated regularly so that they reflect the latest thinking of international experts
and practitioners and take into account the different national contexts where they are taught.
Cambridge programs and qualifications are designed to support students in becoming:
2
•
confident in working with information and ideas – their own and those of others
•
responsible for themselves, responsive to and respectful of others
•
reflective as students, developing their ability to learn
•
innovative and equipped for new and future challenges
•
engaged intellectually and socially, ready to make a difference.
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Introduction
Support for Teachers
A wide range of support materials and resources is available for teachers and students in Cambridge
schools. Resources suit a variety of teaching methods in different international contexts. Through subject
discussion forums and training, teachers can access the expert advice they need for teaching our
qualifications. More details can be found in Section 2 of this syllabus and at www.cie.org.uk/teachers
Support for Exams Officers
Exams officers can trust in reliable, efficient administration of exam entries and excellent personal support
from our customer services. Learn more at www.cie.org.uk/examsofficers
Nonprofit, Part of the University of Cambridge
We are a nonprofit organization where the needs of the teachers and students are at the core of what we
do. We continually invest in educational research and respond to feedback from our customers in order to
improve our qualifications, products, and services.
Our systems for managing the provision of international qualifications and education programs for students
aged 5 to 19 are certified as meeting the internationally recognized standard for quality management, ISO
9001:2008. Learn more at www.cie.org.uk/ISO9001
1.2 Why Choose Cambridge International AS and A Level?
Cambridge International AS and A Levels are international in outlook but retain a local relevance. The syllabi
provide opportunities for contextualized learning, and the content has been created to suit a wide variety
of schools, avoid cultural bias, and develop essential lifelong skills, including creative thinking, and problem
solving.
Our goal is to balance knowledge, understanding, and skills in our programs and qualifications to enable
candidates to become effective students and to provide a solid foundation for their continuing educational
journey. Cambridge International AS and A Levels give students building blocks for an individualized
curriculum that develops their knowledge, understanding, and skills.
Schools can offer almost any combination of 60 subjects, and students can specialize or study a range of
subjects, ensuring a breadth of knowledge. Giving students the power to choose helps motivate them
throughout their studies.
Through our professional development courses and our support materials for Cambridge International
AS and A Levels, we provide the tools to enable teachers to prepare students to the best of their ability and
work with us in the pursuit of excellence in education.
Cambridge International AS and A Levels have a proven reputation for preparing students well for university,
employment, and life. They help develop the in-depth subject knowledge and understanding that are so
important to universities and employers.
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
3
Introduction
Students studying Cambridge International AS and A Levels have the opportunities to:
•
acquire an in-depth subject content
•
develop independent thinking skills
•
apply knowledge and understanding to new as well as familiar situations
•
handle and evaluate different types of information sources
•
think logically and present ordered and coherent arguments
•
make judgments, recommendations, and decisions
•
present reasoned explanations, understand implications and communicate them clearly and logically
•
work and communicate in English.
Guided Learning Hours
Cambridge International A Level syllabi are designed with the assumption that candidates have about 360
guided learning hours per subject over the duration of the course. Cambridge International AS Level syllabi
are designed with the assumption that candidates have about 180 guided learning hours per subject over the
duration of the course. This is for guidance only and the number of hours required to gain the qualification
may vary according to local curricular practice and the students’ prior experience of the subject.
1.3 Why Choose Cambridge International AS and A Level
Economics?
Success in Cambridge International AS Level and A Level Economics is accepted by universities and
employers as proof of essential knowledge and ability. Successful Cambridge International AS and A Level
candidates gain lifelong skills, including:
•
the ability to explain and analyse economic issues and arguments
•
the ability to evaluate economic information and organise, present and communicate ideas and
judgements clearly
•
a sound foundation of economic ideas including an introduction to the price system and government
intervention, international trade and exchange rates, the measurement of employment and inflation and
the causes and consequences of inflation.
Prerequisites
Candidates beginning this course are not expected to have studied Economics previously.
4
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Introduction
Progression
Cambridge International A Level Economics provides a suitable foundation for the study of Economics or
related courses in higher education. Equally it is suitable as part of a course of general education.
Cambridge International AS Level Economics constitutes the first half of the Cambridge International A Level
course in Economics and therefore provides a suitable foundation for the study of Economics at Cambridge
International A Level and thereafter for related courses in higher education. Depending on local university
entrance requirements, it may permit or assist progression directly to university courses in Economics or
some other subjects. It is also suitable as part of a course of general education.
Teachers and learners should take into account that, in some countries, universities advise that some
combinations of subjects with similar content should be avoided where possible, for example, Economics,
Business Studies, and Accounting. Learners are advised to contact universities in advance of making
decisions about subject combinations that include two or more of these subjects.
1.4 Cambridge AICE (Advanced International Certificate of
Education) Diploma
Cambridge AICE Diploma is the group award of the Cambridge International AS and A Level. It gives schools
the opportunity to benefit from offering a broad and balances curriculum by recognising the achievements of
learners who pass examinations in three different curriculum groups:
•
Mathematics and Science (Group 1)
•
Languages (Group 2)
•
Arts and Humanities (Group 3)
A Cambridge International A Level counts as a double-credit qualification and a Cambridge International AS
Level counts as a single-credit qualification within the Cambridge AICE Diploma award framework.
To be considered for an AICE Diploma, a candidate must earn the equivalent of six credits by passing a
combination of examinations at either double credit or single credit, with at least one course coming from
each of the three curriculum groups.
Economics (9275) falls into Group C, Arts and Humanities.
Credits gained from Cambridge AS Level Global Perspectives (8275) can be counted towards the Cambridge
AICE Diploma, but candidates must also gain at least one credit from each of the three curriculum groups to
be eligible for the award.
Learn more about the Cambridge AICE Diploma at www.cie.org.uk/qualifications/academic/uppersec/aice
The Cambridge AICE Diploma is awarded from examinations administered in the June and November series
each year.
Detailed timetables are available from www.cie.org.uk/examsofficers
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
5
Introduction
1.5 How Can I Find Out More?
If You Are Already a Cambridge School
You can make entries for this qualification through your usual channels. If you have any questions, please
contact us at [email protected]
If You Are Not Yet a Cambridge School
Learn about the benefits of becoming a Cambridge school at www.cie.org.uk/startcambridge. Email us at
[email protected] to find out how your organization can register to become a Cambridge school.
6
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Teacher support
2.
Teacher support
2.1 Resources
Syllabi, past question papers, and examiner reports to cover the last examination series are on the Syllabus
and Support Materials DVD, which we send to all Cambridge schools. These materials are also on our public
website.
Go to our public website at www.cie.org.uk/alevel to download the following materials:
•
current and future syllabi
•
past question papers, mark schemes, and examiner reports from one series
•
frequently asked questions
•
resource lists
For teachers at registered Cambridge schools additional support materials for specific syllabi are available.
For our Teacher Support website go to http://teachers.cie.org.uk (username and password required).
2.2 Resource Lists
We work with publishers providing a range of resources including textbooks, websites, CDs, etc. Lists
of endorsed, recommended, and suggested resources are available on our website as soon as they
are published. The most up to date resource lists can be accessed from our public and Teacher Support
websites. The resource lists can be filtered to show all resources or just those that are endorsed or
recommended by Cambridge. Resources endorsed by Cambridge go through a detailed quality assurance
process and are written to align closely with the Cambridge syllabus they support.
2.3 Training
We offer a range of support activities for teachers to make sure they have the relevant knowledge and skills
to deliver our qualifications. See www.cie.org.uk/events for further information.
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
7
Curriculum Content at a Glance
3.
Curriculum Content at a Glance
Overview of the Curriculum Topics for AS Level and A Level Economics
1. Basic economic
ideas
2. The price system
and the theory of
the firm
3. Government
intervention in the
price system
8
Core: AS and A Level
Supplement: A Level only
(Additional material for A Level)
•
Scarcity, choice, and resource
allocation
•
Efficient resource allocation
•
Concept of economic efficiency
•
Production possibility curves
•
Different allocative mechanisms
•
Problems of transition
•
Positive and normative statements
•
Division of labor
•
Money: functions and
characteristics
•
Individual and market demand
curves
•
Law of Diminishing Marginal Utility
•
Budget lines
•
Price, income, and cross-elasticities
of demand
•
Short-run and long-run production
and cost functions
•
Firms’ supply curves
•
Demand and supply for labor
•
Price elasticity of supply
•
Wage determination
•
Interaction of demand and supply
•
Types of cost, revenue, and profit
•
Consumer and producer surplus
•
Growth and survival of firms
•
Prices as rationing and allocative
mechanisms
•
Differing objectives of a firm
•
Different market structures
•
Contestable markets
•
Conduct and performance of firms
•
Externalities
•
Sources of market failure
•
Social costs and social benefits
•
•
Decision making using cost-benefit
analysis
Objectives of government
microeconomic policy
•
Additional policies to correct
market failure and policies toward
income and wealth redistribution
•
Effectiveness of government
policies
•
Privatization
•
Private and public goods
•
Merit and demerit goods
•
Examples of government
intervention
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content at a Glance
4. International trade
5. Theory and
measurement in
the macroeconomy
Core: AS and A Level
Supplement: A Level only
(Additional material for A Level)
•
Principles of absolute and
comparative advantage
•
There are no additional international
trade topics
•
Arguments for free trade and
motives for protection
•
Types of protection
•
Types of economic integration
•
Terms of trade
•
Components of the balance of
payments
•
Employment statistics
•
The circular flow of income
•
General price level: price indices
•
National income statistics
•
Money and real data
•
•
Shape and determinants of
Aggregate Demand (AD) and
Aggregate Supply (AS)
Money supply and the Quantity
Theory of Money
•
Keynesian and Monetarist schools
•
Aggregate Expenditure function
Interaction of AD and AS
•
The demand for money and
interest rate determination
•
Liquidity Preference theory and
Loanable Funds theory
•
6. Macroeconomic
problems
7. Macroeconomic
policies
•
Inflation
•
Economic growth and development
•
Balance of payments problems
•
Unemployment
•
Fluctuations in foreign exchange
rates
•
Inter-connectedness of problems
•
Policies to correct balance of
payments disequilibrium or
influence the exchange rate
•
Objectives of macroeconomic
policies
•
•
Comment on possible conflicts
between macroeconomic policy
objectives
Policies toward developing
economies
•
Types of policy
•
Evaluating policy options
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
9
Assessment at a Glance
4.
Assessment at a Glance
No previous study of the subject is assumed by the syllabus.
Centers and candidates may choose to:
•
take all Advanced Level (Cambridge International A Level) and Advanced Subsidiary Level (Cambridge
International AS Level) components at one exam series, leading to the full Cambridge International
A Level qualification (Papers 1, 2, 3, and 4)
•
take the Cambridge International AS Level components (Papers 1 and 2) at one exam series and, having
received the AS qualification, take both Cambridge International A Level components (Papers 3 and 4) at
a later series, leading to the full A Level qualification
•
take the Cambridge International AS Level components only (Papers 1 and 2) at one exam series, leading
to the AS qualification.
Paper
Weighting
Paper 1
30 multiple-choice questions (Core)
AS Level
A Level
40%
20%
30%
15%
30%
15%
1 hour
Paper 2
1 hour, 30 mins
(a) Data response (Core)
1 question
(b) Structured essay (Core)
1 from a choice of 3
Paper 3
30 multiple-choice questions (Supplement)
Paper 4
1 hour
15%
2 hours, 15 mins
(a) Data response (Supplement)
10%
1 question
(b) Essays (Supplement)
25%
2 from a choice of 6
Papers 1 and 2 are for both AS Level and A Level candidates. Papers 3 and 4 test the topics in the
Supplement, but also require a knowledge and understanding of the topics in the Core.
10
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Assessment at a Glance
Availability
This syllabus is available in the May/June examination series and the October/November examination series.
Detailed timetables are available from www.cie.org.uk/examsofficers
Combining This with Other Syllabi
Candidates can combine this syllabus in an examination series with any other Cambridge syllabus, except:
•
syllabi with the same title at the same level
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
11
Syllabus Goals and Assessment Objectives
5.
Syllabus Goals and Assessment Objectives
5.1 Goals
The Cambridge International AS and A Level Economics syllabus aims to:
•
provide a basis of factual knowledge of economics
•
encourage the student to develop:
○
a facility for self-expression, not only in writing but also in using additional aids, such as statistics
and diagrams, where appropriate
○
the habit of using works of reference as sources of data specific to economics
○
the habit of reading critically to gain information about the changing economy we live in
○
an appreciation of the methods of study used by the economist, and of the most effective ways
economic data may be analyzed, correlated, discussed, and presented.
5.2 Assessment Objectives
There are five Assessment Objectives (AOs) for Cambridge International AS and A Level economics.
Students are expected to:
AO1: Demonstrate knowledge and understanding of the specified content.
AO2: Interpret economic information presented in verbal, numerical, or graphical form.
AO3: Explain and analyze economic issues and arguments, using relevant economic concepts, theories, and
information.
AO4: Evaluate economic information, arguments, proposals, and policies, taking into consideration relevant
information and theory, and distinguishing facts from hypothetical statements and value judgments.
AO5: Organize, present, and communicate economic ideas and informed judgments in a clear, logical, and
appropriate form.
The multiple-choice components (Papers 1 and 3) will particularly test Assessment Objectives 1, 2, and 3.
The data response part of Papers 2 and 4 will particularly test Assessment Objectives 2 and 3, and to a
lesser extent Assessment Objectives 1, 4, and 5.
The essay part of Papers 2 and 4 will particularly test Assessment Objectives 1, 3, 4, and 5, and to a lesser
extent Assessment Objective 2.
12
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Syllabus Goals and Assessment Objectives
The marks as a % available for each group of skills are as follows:
Component
Assessment Objectives
AO1
Demonstrate
knowledge and
understanding
AO2
Interpret
AO3
Explain and
analyze
AO4
Evaluate
AO5
Organize,
present, and
communicate
Paper 1
40%
25%
25%
10%
–
Paper 2
15%
20%
30%
20%
15%
Paper 3
40%
25%
25%
10%
–
Paper 4
20%
15%
25%
20%
20%
The skills are weighted to give an indication of their relative importance. They are not intended to provide a
precise statement of the number of marks allocated to particular skills.
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
13
Curriculum Content
6.
Curriculum Content
Candidates for Cambridge International AS Level should study only the Core material.
Candidates for Cambridge International A Level should study both Core and Supplementary topics.
6.1 Core (AS Level and A Level)
1. Basic Economic Ideas (AS and A Level)
•
•
Scarcity, choice, and resource allocation
Different allocative mechanisms
–
Meaning of scarcity and the inevitability
of choices at all levels (individual, firms,
governments)
–
Opportunity cost
–
Basic questions of what will be produced,
how, and for whom
–
Market economies
–
Planned economies
–
Mixed economies
Plus the problems of transition when
central planning in an economy is reduced
14
•
Production possibility curve—shape and
shifts
•
The margin: decision making at the margin
•
Positive and normative statements
•
Ceteris paribus
•
Factors of production: land, labor, capital,
enterprise
•
Division of labor
•
Money: its functions and characteristics
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
Examples of other concepts and terms included
barter
investment
checks
law (economic)
production transformation
curve
coincidence of wants
liquidity
resources
command economy
macroeconomics
secondary sector
costs of production
market
Smith, Adam
division of labor
market system
specialization
economic goods
maximization
economic growth
measure of value
standard of deferred
payments
economic problem
medium of exchange
entrepreneur
microeconomics
fixed capital
needs
fixed capital formation
other things being equal
free goods
primary sector
interest
production frontier
store of wealth
tertiary sector
unit of account
value judgment
wants
working capital
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
15
Curriculum Content
2. The Price System and the Theory of the Firm (AS and A Level)
•
Individual demand curves
•
Aggregation of individual demand curves to
give market demand
•
Factors influencing demand
•
Movements along and shifts of a demand
curve
•
Price, income, and cross-elasticities of
demand
•
–
Meaning and calculation
–
Factors affecting
–
Implications for revenue and business
decisions
–
Meaning of equilibrium and disequilibrium
–
Effects of changes in supply and demand
on equilibrium price and quantity
–
Applications of demand and supply analysis
Firms’ supply curves
Aggregation of individual firms’ supply
curves to give market supply
•
Factors influencing market supply, including
indirect taxes and subsidies
Movements along and shifts of a supply
curve
16
•
Price elasticity of supply: determinants,
implications for speed/ease with which
businesses react to changed market
conditions
•
Interaction of demand and supply:
equilibrium price and quantity
•
Consumer surplus and producer surplus
•
Prices as rationing and allocative
mechanisms
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
2. The Price System and the Theory of the Firm (AS and A Level)—continued
Examples of other concepts and terms included
ad valorem tax
equilibrium
normal good
change in demand
equilibrium price
perfectly elastic
change in quantity demanded
equilibrium quantity
perfectly inelastic
complementary goods
impact of tax
perishability
composite demand
incidence of tax
price mechanism
demand conditions
income tax
rectangular hyperbola
demand schedule
inelastic
specific tax
derived demand
inferior good
stocks
direct taxation
joint demand
substitute goods
disequilibrium
joint supply
supply conditions
effective demand
law of demand
total revenue
elastic
law of supply
unitary elasticity
3. Government Intervention in the Price System (AS and A Level)
•
Externalities
•
Social costs as the sum of private costs and external costs
Social benefits as the sum of private benefits and external benefits
•
Decision making using cost-benefit analysis
•
Private goods and public goods
Merit goods and demerit goods
•
Government intervention via maximum price controls, price stabilization, taxes, subsidies, direct
provision of goods and services
Examples of other concepts and terms included
excise duties
imperfections
non-rejectability
external benefit
information failure
non-rivalness
external cost
market failure
positive externality
free rider
negative externality
government expenditure
non-excludability
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
17
Curriculum Content
4. International Trade (AS and A Level)
•
Principles of absolute and comparative advantage, and their real-world limitations
Other explanations/determinants of trade flows
Opportunity cost concept allied to trade
•
Arguments for free trade and motives for protection
•
Types of protection and their effects
•
Economic integration: free trade area, customs union, economic union, monetary union
•
Terms of trade
•
Components of the balance of payments
Examples of other concepts and terms included
18
bilateral trade
external balance
sunrise/sunset industries
capital account of balance of
payments
financial account of balance
of payments
surplus
comparative costs
globalization
trade creation
current account of balance of
payments
imports
trade diversion
infant industry argument
current transfers
trading possibility curve
invisible balance
deficit
visible balance
multilateral trade
dumping
net errors and omissions
Voluntary Export Restraints
(VERs)
embargoes
net investment income
exports
quota
tariff
World Trade Organization
(WTO)
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
5. Theory and Measurement in the Macroeconomy (AS and A Level)
•
Employment statistics
Size and components of labor force
Labor productivity
Definition of unemployment
Unemployment rate; patterns and trends in (un)employment
Difficulties involved in measuring unemployment
•
General price level: price indices
•
Money and real data
•
Shape and determinants of Aggregate Demand (AD)
Shape and determinants of Aggregate Supply (AS)
Interaction of AD and AS: determination of level of output, prices, and employment
Examples of other concepts and terms included
base year
household expenditure
Retail Prices Index
claimant count
laborforce survey
sampling
Consumer Price Index
nominal value
weights
cost of living
participation rate
working population
dependency ratio
real value
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
19
Curriculum Content
6. Macroeconomic Problems (AS and A Level)
•
•
•
Inflation
Balance of payments
problems
Fluctuations in
foreign exchange
rates
–
Definition of inflation; degrees of inflation; types of inflation
–
Causes of inflation
–
Consequences of inflation
–
Meaning of balance of payments equilibrium and disequilibrium
–
Causes of balance of payments disequilibrium
–
Consequences of balance of payments disequilibrium on
domestic and external economy
–
Definitions and measurement of exchange rates—nominal, real,
trade-weighted exchange rates
–
Determination of exchange rates—floating, fixed, managed float
–
Factors underlying fluctuations in exchange rates
–
Effects of changing exchange rates on the economy
Examples of other concepts and terms included
anticipated inflation
fiscal drag
purchasing power parity
appreciation
foreign exchange
Quantity Theory of Money
cost-push inflation
Forex Market
reflation
deflation
hyperinflation
revaluation
demand-pull inflation
IMF
shoe leather costs
depreciation
J-curve
stagflation
devaluation
Marshall-Lerner condition
unanticipated inflation
“dirty float”
menu costs
velocity of circulation
fiscal boost
monetary inflation
7. Macroeconomic Policies (AS and A Level)
Policies designed to correct balance of payments disequilibrium or influence the exchange rate
Comment on possible conflicts between policy objectives on inflation, balance of payments, and
exchange rate
Examples of other concepts and terms included
20
exchange controls
expenditure switching
expenditure dampening
interest rate policy
trade-off(s)
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
6.2 Supplement (A Level only)
1. Basic Economic Ideas (A Level only)
Efficient resource allocation
Concept of economic efficiency: productive and allocative efficiency
Examples of other concepts and terms included
optimum resource allocation
Pareto optimality
2. The Price System and the Theory of the Firm (A Level only)
•
Law of diminishing marginal utility and its relationship to derivation of an individual demand
schedule and curve
Equi-marginal principle
Limitations of marginal utility theory
•
Budget lines
Income and substitution effects
•
Short-run production function: fixed and variable factors of production, total product, average
product, and marginal product
Law of diminishing returns (law of variable proportions)
•
Demand for labor:
meaning and factors affecting demand for labor
derivation of individual firm’s demand for a factor using marginal revenue product theory
•
Supply of labor—meaning and factors affecting supply
Net advantages and the long-run supply of labor
•
Wage determination under free market forces (competitive product and factor markets)
The role of trade unions and government in wage determination
Wage differentials and economic rent
•
Long-run production function
Returns to scale
•
Economist’s versus accountant’s definition of costs and profits
Marginal cost and average cost
Short-run cost function—fixed costs versus variable costs
Explanation of shape of Short-Run Average Cost (SRAC)
•
Long-run cost function
Explanation of shape of Long-Run Average Cost (LRAC)
Relationship between economies of scale and decreasing costs
Internal and external economies of scale
•
Survival of small firms
Growth of firms
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
21
Curriculum Content
2. The Price System and the Theory of the Firm (A Level only)—continued
•
Relationship between elasticity, marginal, average, and total revenue for a downward-sloping
demand curve
•
Concepts of firm and industry
•
Traditional objective of firm—profit maximization
Normal and abnormal profit
An understanding of other objectives of firm
•
Different market structures—perfect competition, monopoly, monopolistic, competition, oligopoly
Structure of markets as explained by number of buyers and sellers, nature of product, degree of
freedom of entry, and nature of information
Contestable markets
•
Conduct of firms—pricing policy and non-price policy, including price discrimination, price
leadership models, and mutual interdependence in the case of oligopolies
•
Performance of firms—in terms of output, profits, and efficiency
Comparisons with regard to economic efficiency, barriers to entry, price competition, non-price
competition, and collusion
Examples of other concepts and terms included
22
average fixed cost
immobility of labor
predatory pricing
average variable cost
imperfect competition
price agreements
barriers to exit
increasing returns
break-even point
industrial concentration
risk-bearing economies of
scale
cartel
integration
sales maximization
closed shop
marginal physical product
sales revenue maximization
collective bargaining
satisficing profits
concentration ratio
minimum efficient scale
(MES)
decreasing returns
mobility of labor
shares
diseconomies of scale
monopsony
supernormal profit
diversification
natural monopoly
technical economies
economies of large
dimensions
non-pecuniary advantages
transfer earnings
occupational mobility
vertical integration
financial economies of scale
paradox of value
wage drift
horizontal integration
pecuniary advantages
second-best theory
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
3. Government Intervention in the Price System (A Level only)
•
Sources of market failure
•
Meaning of deadweight losses
Market imperfections—existence of monopolistic elements
•
Objectives of government microeconomic policy: efficiency, equity
•
Additional policies to correct market failure: regulation
Policies toward income and wealth redistribution
Effectiveness of government policies
•
Privatization
Examples of other concepts and terms included
contracting out
negative income tax
technical monopoly
deregulation
price stabilization
the poverty trap
government failure
supply-side economics
universal benefits
means-tested benefits
tax credits
x-inefficiency
4. International Trade (A Level only)
THERE IS NO SUPPLEMENT SECTION FOR INTERNATIONAL TRADE
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
23
Curriculum Content
5. Theory and Measurement in the Macroeconomy (A Level only)
•
•
National income statistics
–
Use of national income statistics as
measures of economic growth and living
standards
–
GDP deflator
–
Comparison of economic growth rates and
living standards over time and between
countries
–
Other indicators of living standards and
economic development
Money supply
Broad and narrow money supply
Government accounts: government budget,
deficit financing
•
The circular flow of income between
households, firms, government, and the
international economy
•
Main schools of thought on how the
macroeconomy functions—Keynesian and
Monetarist
•
Aggregate Expenditure function (AE)
Meaning, components of AE, and their
determinants
Income determination using AE-income
approach and withdrawal/injection approach
Inflationary and deflationary gaps; full
employment level of income versus
equilibrium level of income
The multiplier
Autonomous and induced investment; the
accelerator
•
Sources of money supply in an open
economy (commercial banks/credit
creation, central bank, deficit financing,
total currency flow)
Relationship between money supply,
price level, and output as explained by the
Quantity Theory of Money
•
The demand for money
Interest rate determination
Liquidity Preference theory and Loanable
Funds theory
24
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Curriculum Content
5. Theory and measurement in the macroeconomy (A Level only) – continued
Examples of other concepts and terms included
active balances
distribution of income
output gap
at constant prices
gross domestic product
paradox of thrift
at current prices
gross national product
average propensity
idle balances
precautionary demand for
money
balanced budget
leakage
quality of life
budget surplus/deficit
liquidity trap
saving
capital:output ratio
marginal propensity
closed economy
National Debt
speculative demand for
money
consumption
net domestic product
credit multiplier
net national product
depreciation (of capital)
net property income from
abroad
dissaving
transactions demand for
money
yield
6. Macroeconomic Problems (A Level only)
•
•
•
Economic growth and
development
Unemployment
–
Definition of economic growth and development
–
Indicators of comparative development and
underdevelopment in the world economy—economic,
monetary, nonmonetary, and demographic indicators
–
Characteristics of developing economies: population
growth and structure, income distribution, economic
structure, employment composition, external trade,
and urbanization in developing economies, the nature
of dependency, including the role of multinational
corporations and external debt
–
Actual versus potential growth in national output
–
Factors contributing to economic growth
–
Costs and benefits of growth, including using and
conserving resources
–
Full employment and natural rate of unemployment
–
Causes of unemployment
–
Consequences of unemployment
–
Types of unemployment
–
relationship between internal and external value of
money
–
relationship between balance of payments and inflation
–
relationship between inflation and unemployment;
trade-off between inflation and unemployment
Interconnectedness of problems
Links between macroeconomic
problems and their
interrelatedness, for example
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
25
Curriculum Content
6. Macroeconomic Problems (A Level only)—continued
Examples of other concepts and terms included
birth rate
frictional unemployment
structural unemployment
cyclical unemployment
general unemployment
sustainability
death rate
migration
technological unemployment
demand-deficiency
unemployment
natural increase
trade (business) cycle
optimum population
voluntary unemployment
disguised unemployment
(underemployment)
seasonal unemployment
7. Macroeconomic Policies (A Level only)
•
Objectives of macroeconomic policy: stabilization,
growth
•
Policies toward developing economies; policies of
trade and aid
•
Types of policy: aims and instruments of each policy;
how each is used to control inflation, stimulate
employment, stimulate growth and development,
correct balance of payments disequilibrium; the
effectiveness of each
•
–
Fiscal policy
–
Monetary policy
–
Exchange rate policy
–
Supply side policy
Evaluating policy options to deal with problems
arising from conflicts between policy objectives on
inflation, unemployment, economic growth, balance
of payments, exchange rates, and the redistribution
of income and wealth
Examples of other concepts and terms included
26
automatic stabilizer
marginal tax rates
proportional taxation
canons of taxation
open market operations
quantitative easing (QE)
flat tax
poverty trap
regressive taxation
Laffer curve
progressive taxation
work disincentives
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Appendix: Resource List
7.
Appendix: Resource List
Text books
This is not a list of mandatory texts, but a range of alternatives that teachers may wish to choose from.
Author
Title
Publisher
Date
ISBN
Anderton, A G
Economics A Level
(5th edition)
Causeway
2008
1405892358
Bamford, Colin
and Grant, Susan
Cambridge International
AS and A Level Economics
(2nd edition)
Cambridge
2010
0521126657
Beardshaw, J
Economics: A Student’s
Guide
Longman
2001
0273651404
Begg, David et al
Economics (9th edition)
McGraw Hill
2008
0077117875
Gillespie, A
Economics AS and A Level
Through Diagrams
OUP Oxford
2009
019918089X
Grant, Susan
Stanlake’s Introductory
Economics
Longman
2000
0582405483
Ison, Stephen
and Wall, Stuart
Economics (4th edition)
FT Prentice
Hall
2006
0273681079
Sloman, John
Essentials of Economics
FT Prentice
Hall
2009
1408241560
Author
Title
Publisher
Date
ISBN
Bannock, Graham
et al (eds)
Penguin Dictionary of
Economics
Penguin
2004
0141010754
Rutherford,
Donald
Routledge Dictionary of
Economics (2nd edition)
Routledge
2002
0415250919
Wall, Nancy
The Complete A-Z
Economics Handbook
(3rd edition)
Philip Allan
2009
0340991011
Dictionaries
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
27
Appendix: Resource List
Internet
Teachers will also find useful material on the following websites:
www.bized.co.uk
www.tutor2u.net
and the Useful Websites page on the Subject Page for Economics on the Cambridge Students website:
www.cambridgestudents.org.uk
Resources are also listed on Cambridge’s public website at www.cie.org.uk. Please visit this site on a
regular basis as the Resource lists are updated through the year.
Access to teachers’ discussion forums, suggested schemes of work (unit lesson plans), and
regularly updated resource lists may be found on the Cambridge Teacher Support website at
http://teachers.cie.org.uk. This website is available to teachers at registered Cambridge Centers.
28
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Appendix: Resource List
Key Directive Words
Directive Word
What it means
Calculate
Work out using the information provided
Define
Give the exact meaning of
Describe
Give a description of, explain the main features of
Illustrate
Give examples, use a diagram
Outline
Describe the key points without detail
Analyze
Explain the main points in detail, examine closely, separate into parts, and
show how all the parts connect and link
Compare
Explain the similarities and differences between
Explain
Give clear reasons or make clear the meaning of, use examples, and explain
the theory behind the question
Consider
Give your thoughts about, with some justification
Assess
Show how important something is, give your judgment on
Comment upon
Give your reasoned opinion on, with explanations
Criticize
Give an opinion but support it with evidence
Discuss
Give the important arguments for and against; often requires a conclusion
Evaluate
Discuss the importance of, judge the overall worth of, make an attempt to
weigh up your opinions
To what extent
Give reasons for and against, come to a conclusion with a justification of which
arguments are strongest and which are weakest
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
29
Other Information
8.
Other Information
Equality and Inclusion
Cambridge has taken great care in the preparation of this syllabus and assessment materials to avoid bias of
any kind. To comply with the UK Equality Act (2010), Cambridge International Examinations has designed this
qualification with the aim of avoiding direct and indirect discrimination.
The standard assessment arrangements may present unnecessary barriers for candidates with disabilities
or learning difficulties. Arrangements can be put in place for these candidates to enable them to access the
assessments and receive recognition of their attainment. Access arrangements will not be agreed to if they
give candidates an unfair advantage over others or if they compromize the standards being assessed.
Candidates who are unable to access a component of the assessment may be eligible to receive an award
based on the parts of the assessment they have taken.
Information on access arrangements is found in the Cambridge Handbook, which can be downloaded from
the website www.cie.org.uk
Language
This syllabus and the associated assessment materials are available in English only.
Grading and Reporting
Cambridge International A Level results are shown by one of the grades A*, A, B, C, D, or E, indicating
the standard achieved, grade A* being the highest and grade E the lowest. “Ungraded” indicates that the
candidate’s performance fell short of the standard required for grade E. “Ungraded” will be reported on the
statement of results but not on the certificate. The letters Q (result pending), X (no results), and Y (to be
issued) may also appear on the statement of results but not on the certificate.
Cambridge International AS Level results are shown by one of the grades a, b, c, d, or e, indicating the
standard achieved, grade “a” being the highest and grade “e” the lowest. “Ungraded” indicates that the
candidate’s performance fell short of the standard required for grade “e”. “Ungraded” will be reported on
the statement of results but not on the certificate. The letters Q (result pending), X (no results), and Y (to be
issued) may also appear on the statement of results but not on the certificate.
If a candidate takes a Cambridge International A Level and fails to achieve grade E or higher, a Cambridge
International AS Level grade will be awarded if both of the following apply:
•
the components taken for the Cambridge International A Level by the candidate in that series included all
the components making up a Cambridge International AS Level
•
the candidate’s performance on these components was sufficient to merit the award of a Cambridge
International AS Level grade.
For languages other than English, Cambridge also reports separate speaking endorsement grades
(Distinction, Merit, and Pass) for candidates who satisfy the conditions stated in the syllabus.
30
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
Other Information
Entry Codes
To maintain the security of our examinations we produce question papers for different areas of the world,
known as “administrative zones”. Where the component entry code has two digits, the first digit is the
component number given in the syllabus. The second digit is the location code, specific to an administrative
zone. Information about entry codes, examination timetables, and administrative instructions for your
administrative zone can be found in the Cambridge Guide to Making Entries.
Cambridge International AS and A Level Economics (US) 9275. Syllabus for examination in 2015.
31
Cambridge International Examinations
1 Hills Road, Cambridge, CB1 2EU, United Kingdom
Tel: +44 (0)1223 553554 Fax: +44 (0)1223 553558
Email: [email protected] www.cie.org.uk
® IGCSE is the registered trademark of Cambridge International Examinations
© Cambridge International Examinations 2013
*9906461484*