SchoolIGCSEYear 10–11 / Grade 9–10 (ages 14–16)$12 – $37

Edexcel IGCSE Economics (4EC1)

Edexcel IGCSE Economics (International GCSE, 4EC1) is assessed by two 1 hour 30 minute papers: Paper 1 on microeconomics and business economics, and Paper 2 on macroeconomics and the global economy. Our Edexcel International GCSE Economics course follows the 4EC1 specification: the market system, business economics, government and the economy, and the relationship between countries in the global economy. You prepare for Paper 1 (microeconomics and business economics) and Paper 2 (macroeconomics and the global economy). Lessons are live and one-to-one with a verified subject tutor, who sets past-paper questions, marks them against the mark scheme and plans revision for the May/June or October/November series. Suitable for international school students, home-schoolers and private candidates.

Reviewed by G. Jawla, Master's in EconomicsLast updated

500 enrolled·42 lessons·38h 40m·Intermediate·English
42
Lessons
38h 40m
Total duration
500
Students enrolled
Intermediate
Level

What you will learn

Learning outcomes

  • Understand the basic economic problem and scarcity
  • Explain factors of production and opportunity cost
  • Analyse demand supply and market equilibrium
  • Understand price elasticity of demand and supply
  • Explain the role of the market and price mechanism
  • Understand market failure and government intervention
  • Analyse business costs revenue and profit
  • Understand competition and different market structures
  • Explain economic growth inflation and unemployment
  • Understand government economic objectives and policies
  • Analyse taxation government spending and monetary policy
  • Understand international trade and globalisation
  • Explain exchange rates and their economic effects
  • Understand economic development and living standards
  • Interpret economic data tables charts and graphs
  • Evaluate economic arguments and policies
  • Apply economic knowledge to Edexcel exam-style questions
  • Develop effective examination techniques

Prerequisites

  • Basic mathematics skills
  • Ability to work with percentages ratios and simple calculations
  • Ability to interpret graphs and charts
  • English reading and comprehension skills
  • Logical and analytical thinking skills
  • Interest in economics business and current affairs
  • No previous economics knowledge required

Tags

Edexcel IGCSE EconomicsEdexcel International GCSE Economics 4EC1IGCSE Economics tutorPearson Edexcel Economicsmicroeconomicsmacroeconomics4EC1 past papersGrade 9Grade 10

Course structure

Syllabus(3 modules)

  • The Nature of the Economic Problem
  • Opportunity Cost Production Possibility Curves
  • The Underlying Economic Assumptions
  • Reasons why the Assumptions may be Flawed
  • Demand
  • Factors that Shift the Demand Curve
  • Supply
  • Factors that Shift the Supply Curve
  • Equilibrium & Disequilibrium
  • Market Equilibrium: Real-world Situations
  • Price Elasticity of Demand (PED)
  • The Significance of PED
  • Price Elasticity of Supply (PES)
  • The Significance of PES
  • Income Elasticity of Demand (YED)
  • Characteristics of Mixed Economies
  • Resource Allocation in Mixed Economies
  • Inefficient Resource Allocation & Market Failure
  • Public Goods: The Free Rider Problem
  • The Importance of the Public & Private
  • Sectors Privatisation
  • Understanding Externalities
  • External Costs of Production
  • External Benefits of Consumption

What is Edexcel International GCSE Economics (4EC1)?

In short: this course gives one-to-one online tutoring for Pearson Edexcel International GCSE Economics (4EC1). A verified economics tutor teaches micro and macro topics, diagrams, calculations and extended answers, using Edexcel past papers.

Pearson Edexcel International GCSE Economics (4EC1) is an international GCSE-level economics qualification covering how markets and businesses work and how governments manage the economy in a global context. It is single tier, linear, graded 9 to 1 and assessed by two equal written papers.

This course covers the full 4EC1 specification one to one with a verified economics tutor.

Official specification: Pearson Edexcel International GCSE Economics (4EC1). Papers and content can change, so check the current specification on the board's website.

For wider support, see our economics tutoring page, or the Cambridge IGCSE Economics (0455) course if your school follows Cambridge.

What are the 4EC1 exam papers?

Edexcel International GCSE Economics (4EC1) has a single tier and calculators are allowed. Both papers include multiple-choice, short-answer, data-response and open-ended questions. Check the current specification on the board's website.

PaperTimeMarksWeighting
Paper 1: Microeconomics and Business Economics1 hour 30 minutes8050%
Paper 2: Macroeconomics and the Global Economy1 hour 30 minutes8050%

Which topics does 4EC1 cover?

The 4EC1 specification covers four areas: the market system; business economics; government and the economy; and the global economy.

How do you answer extended Economics questions?

Extended questions reward a clear chain of reasoning, accurate diagrams, use of the data provided and a balanced judgement.

  1. Define the key term.
  2. Use the data or context given.
  3. Explain each step of the economic reasoning.
  4. Add a labelled diagram where it helps.
  5. Weigh up the arguments and reach a conclusion.

Diagrams and calculations

Tutors drill the diagrams and calculations that come up most: demand and supply shifts, price elasticity calculations, cost and revenue, percentage change, and index numbers such as CPI.

What does a worked economics calculation look like?

Here is a typical question: price rises from $2.00 to $2.20 and quantity demanded falls from 1,000 to 850. Calculate PED.

StepWorking
% change in price+10%
% change in quantity−15%
PED−1.5 (elastic)

Where do students lose marks in Edexcel International GCSE Economics?

Students most often lose marks through the habits below. Each is easy to fix with practice and feedback.

Mark-loserWhat to do instead
Unlabelled diagramsLabel axes, curves and shifts
No chains of reasoningExplain each step of cause and effect
No evaluationWeigh both sides and conclude
Data ignoredUse figures from the extract
Definitions vagueLearn precise definitions

How the lessons work

Lessons are live and one to one on video. Your tutor practises past-paper questions with you and marks extended answers against the Pearson Edexcel mark scheme. See also Cambridge IGCSE Economics (0455) and our Economics subject page.

Edexcel IGCSE Economics tutor online: who this course is for, prerequisites and study plan

An Edexcel IGCSE Economics tutor online gives you live 1-to-1 lessons on the 4EC1 topics, with practice on diagrams, calculations and evaluation answers.

This course suits Edexcel International GCSE students at school and private candidates, including those new to economics.

Prerequisites: basic maths, percentages and graphs, and English reading. No previous economics is needed.

Course length: 42 lessons across 3 main areas.

StageTopicsWhat you can do afterwards
1The market systemDraw demand and supply diagrams and calculate elasticity
2Business economicsExplain costs, revenue, and market structures
3Government and the economyExplain policy, growth, inflation and trade

Where it leads: see the Cambridge IGCSE Economics 0455 course if your school follows Cambridge.

Edexcel IGCSE Economics (4EC1): frequently asked questions

What is the Edexcel International GCSE Economics code?

The specification code is 4EC1.

Is Edexcel IGCSE Economics tiered?

No. It is single tier and graded 9 to 1.

What is on Paper 1?

Microeconomics and business economics: the market system and business economics.

What is on Paper 2?

Macroeconomics and the global economy.

How do I get a 9 in Edexcel IGCSE Economics?

Use the data provided, build clear chains of reasoning, draw accurate diagrams and make balanced judgements.

Do you use Edexcel past papers?

Yes. Tutors use Pearson Edexcel past papers and mark schemes.

How much does an IGCSE Economics tutor cost?

The price depends on the tutor and session length. You see the hourly rate before booking, with no subscription.

Can I study online from any country?

Yes. Lessons are online and scheduled around your time zone.

How is Edexcel International GCSE Economics assessed?

Two papers, each 1 hour 30 minutes, 80 marks and 50%.

What are the Edexcel IGCSE Economics grade boundaries?

Pearson publishes grade boundaries for Edexcel IGCSE Economics after each exam series, and they change from year to year with paper difficulty. They show the raw marks needed for each grade. Your tutor marks full past papers and compares your scores with recent boundaries to estimate your grade and target the topics that matter most.

Can I use a calculator?

Yes. Calculators are allowed.

How do I calculate PED?

Divide the percentage change in quantity demanded by the percentage change in price.

How should I use Edexcel IGCSE Economics past papers?

Start with questions on one topic while you are learning it, then move to full timed Edexcel IGCSE Economics past papers near your exam. Mark each answer with the mark scheme and note where marks were lost. Your 1-to-1 tutor uses those notes to plan your next lessons.

Where can I find the Edexcel IGCSE Economics specification?

Pearson publishes the Edexcel IGCSE Economics specification on its website. It lists the topics, the skills you are assessed on and the structure of each paper, so use the current version for your exam year. Your tutor uses it to check that your revision covers exactly what you can be asked.

Where can I find Edexcel IGCSE Economics past papers?

Pearson publishes past papers and mark schemes for Edexcel IGCSE Economics on its website, and schools can access more through their secure portals. Use them under timed conditions, then mark your answers carefully with the mark scheme. Your tutor sets past-paper questions topic by topic, then full timed papers closer to your exam.

Can my tutor set practice between lessons?

Yes. Tutors can set past-paper questions and go through them in the next session.

Do you offer lessons in my time zone?

Yes. Lessons are online, so you can book times that suit your time zone.

Can I change tutor?

Yes. If a tutor isn't the right fit, you can choose another.

What do I need for an online lesson?

A laptop or tablet with a camera and microphone, a stable internet connection and your notes or past papers.

How quickly can I start?

Many tutors can start within a day or two; tell us your exam dates when you book.

Can I get an Edexcel IGCSE Economics tutor online?

Yes. You can learn with a 1-to-1 Edexcel IGCSE Economics tutor online through live video lessons from any country. Your tutor explains each 4EC1 topic with real examples, helps you draw diagrams correctly and shows you how to structure evaluation answers.

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