Scheme of work 2025-26
Grade: IGCSE yr 1 Subject: Economics
Subject code and Prepared by: Sumeet Kaur
component:0455/12/22
Months & no. of Unit/ Topic Learning outcome
weeks
April,2025 The students will be given a broad outlook and overview
of the subject with the help of mind maps and videos.
Week 1 The syllabus for Term 1 will be shared and a concise
understanding of each chapter will be provided.
Section 1- The The student gains knowledge with understanding,
basic economic application, analysis and evaluation of the following:
problem The • finite resources and unlimited wants
nature of • economic and free goods
economic • mobility of the factors of production
problem The • quantity and quality of the factors of production
factors of
production
Week 2
Section 1- The The student gains knowledge with understanding,
Week 3 basic economic application, analysis and evaluation of the following:
problem • definition of opportunity cost
• the influence of opportunity cost on decision making
Opportunity The student gains knowledge with understanding,
Week 4 Cost application, analysis and evaluation of the following:
Production • definition of PPC
• points under, on and beyond a PPC
Possibility Curve
• movements along a PPC
• shifts in a PPC
The student gains knowledge with understanding,
application, analysis and evaluation of the following:
May, 2025 Section 2- • microeconomics
Week 1 Allocation of • macroeconomics
resources
Role of markets • the market system
in allocating • key resources allocation decisions
resources • introduction to the price mechanism
Week 2 Demand • definition of demand
• price and demand
• individual and market demand
• conditions of demand
Section 2- The student gains knowledge with understanding,
Allocation of application, analysis and evaluation of the following:
resources • definition of supply
Supply Price • price and supply
determination • individual and market supply
Price elasticity • market equilibrium
of demand • market disequilibrium
Week 3rd& 4th • definition of PED
• calculation of PED
• determinants of PED
• PED and total spending on a product/revenue
• Significance of PED
July,2025
The student gains knowledge with understanding,
Week 3 & Section 2-
application, analysis and evaluation of the following:
Week 4th Allocation of • definition of PES
resources Price • calculation of PES
elasticity of • determinants of PES
supply • significance of PES
Revision of the topics covered so far with the help of
Quizzes, Flash cards and Concept tests. Feedback of each
assessment will be provided
The student gains knowledge with understanding,
August, 2025 Section 2-
application, analysis and evaluation of the following:
Week 1st Allocation of • definition of market economic system
resources • advantages and disadvantages of the market economic
Market system
economic • Concept of market failure
system Market • Causes of market failure
• Consequences of market failure
failure
Week 2 and Section 2- Allocation
week 3 of resources Mixed Definition and understanding of Mixed economic system
• Government intervention to address market failure
economic system
Section 3-
Week 3rd Microeconomic
Decision Makers The student gains knowledge with understanding,
application, analysis and evaluation of the following:
• money
Money and banking • banking
Week 4th REVSION FOR TERM END ASSESSMENT
September Unit – 2
2024 Microeconomics
REVSION FOR TERM END ASSESSMENT
Week 1st
Week 3rd& 4th The student gains knowledge with understanding,
Section 3-
application, analysis and evaluation of the following:
Microeconomic • Factors that influence household spending,savings and
Decision Makers borrowings
Households Workers • factors affecting an individual’s choice of occupation
• wage determination
• reasons for differences in earnings
• division of labour/specialization
October,2025
Section 3- . The student gains knowledge with understanding,
Week 2nd and
Microeconomic application, analysis and evaluation of the following: •
3rd definition of a trade union • the role of trade unions in the
Decision Makers
economy • the advantages and disadvantages of trade union
Trade Union • classification of firms • small firms • causes and forms of
the growth of firms • mergers • economies and diseconomies
of scale
November, Firms’ demand for factors of production
2025 Firms and • labor-intensive and capital-intensive production
Week 1st &2 production • production and productivity
nd
November
2025
Week 3rd Section 3-
The student gains knowledge with
Microeconomic
understanding, application, analysis and
decision makers
evaluation of the following:
Costs, revenues and
• definition of costs of production
objectives Market
• calculation of costs of production
Structures
Revision for unit test
Week 4th
December,
2025
Revision for unit test
Week 1st
December,
2025 Microeconomic
decision makers • definition of revenue
Costs, revenues and • Competitive markets
Week 2nd objectives Market
Structures
Week 3rd
• Monopoly markets
The role of government Macroeconomic goals/aims of
The role of The local and international role of government
government • The macroeconomic aims of government
Macroeconomic • Possible conflicts between Macroeconomic aims
goals/aims of
January, 2025 governmnet
Week 2 & 3
January 2025
Week 4 Fiscal policy • Government Budget
• Taxation
• Principles of taxation
February,
2025
Week 1st& 2nd Monetary policy
• Money Supply
• Effects of monetary policy
Week 3rd Revision for term end exam
Week 4th
