O Level Economics
Learn each topic, then practise exam answers
I explain each topic with a simple example. Then you draw the diagrams and practise Cambridge exam questions.
Course details
- Syllabus
- Cambridge O Level Economics (2281)
- Exam board
- Cambridge International (CAIE)
- Course length
- [Course Duration] (to be confirmed)
- Class format
- [Class Format: e.g. one-to-one online, small group] (to be confirmed)
- Class schedule
- [Class Schedule] (to be confirmed)
- Course fee
- [Course Fee] (to be confirmed)
More course details
- Course length
- [Course Duration] (to be confirmed)
- Class format
- [Class Format: e.g. one-to-one online, small group] (to be confirmed)
- Class schedule
- [Class Schedule] (to be confirmed)
- Course fee
- [Course Fee] (to be confirmed)
We agree the class format, schedule, course length and fee after your trial class.
We agree the class format, schedule, course length and fee after your trial class.
Who it’s for
Students
Who these lessons are for
Most students start from one of these places. We make your plan after the trial class.
Students who are new to Economics and want to start with the basics.
Students who understand the lessons at school but lose marks in written answers.
Students who had a weak result and want to go over the topics again.
Syllabus
Topics covered
What you'll learn in O Level Economics, section by section.
These are the six sections of the Cambridge O Level Economics syllabus for exams in 2027, 2028 and 2029. If you sit the exam in November 2026, the topics are very similar.
The basic economic problem
5 topics
Why we have to make choices, and what each choice costs.
- Finite resources and infinite wants
- Economic goods and free goods
- Factors of production and their rewards
- Opportunity cost
- Production possibility curve (PPC) diagrams
The allocation of resources
7 topics
How markets set prices, and when the government steps in.
- Demand and supply
- Price determination and price changes
- Price elasticity of demand (PED)
- Price elasticity of supply (PES)
- Market and mixed economic systems
- Market failure
- Government intervention
Microeconomic decision-makers
7 topics
How banks, households, workers and firms make decisions.
- Money and banking
- Household spending and saving
- Workers and wages
- Types of firm and mergers
- Economies and diseconomies of scale
- Costs and revenue of firms
- Competitive and monopoly markets
Government and the macroeconomy
7 topics
What the government aims for and the policies it uses.
- Macroeconomic aims
- Fiscal policy
- Monetary policy
- Supply-side policy
- Economic growth and recession
- Employment and unemployment
- Inflation
Economic development
4 topics
Why living standards differ between countries.
- Living standards
- Poverty
- Population
- Differences in development between countries
International trade and globalisation
5 topics
Trade between countries, exchange rates and the balance of payments.
- Specialisation and free trade
- Globalisation and trade restrictions
- Multinational companies
- Foreign exchange rates
- The current account of the balance of payments
The basic economic problem
Why we have to make choices, and what each choice costs.
- Finite resources and infinite wants
- Economic goods and free goods
- Factors of production and their rewards
- Opportunity cost
- Production possibility curve (PPC) diagrams
The allocation of resources
How markets set prices, and when the government steps in.
- Demand and supply
- Price determination and price changes
- Price elasticity of demand (PED)
- Price elasticity of supply (PES)
- Market and mixed economic systems
- Market failure
- Government intervention
Microeconomic decision-makers
How banks, households, workers and firms make decisions.
- Money and banking
- Household spending and saving
- Workers and wages
- Types of firm and mergers
- Economies and diseconomies of scale
- Costs and revenue of firms
- Competitive and monopoly markets
Government and the macroeconomy
What the government aims for and the policies it uses.
- Macroeconomic aims
- Fiscal policy
- Monetary policy
- Supply-side policy
- Economic growth and recession
- Employment and unemployment
- Inflation
Economic development
Why living standards differ between countries.
- Living standards
- Poverty
- Population
- Differences in development between countries
International trade and globalisation
Trade between countries, exchange rates and the balance of payments.
- Specialisation and free trade
- Globalisation and trade restrictions
- Multinational companies
- Foreign exchange rates
- The current account of the balance of payments
Method
How I teach
Every topic follows the same four steps, in the same order.
Explain the idea first
I explain each topic in simple words with an example. We move on to exam questions once you understand the idea.
Draw the diagrams yourself
You draw each diagram yourself and label it, such as a PPC or a demand and supply diagram. Then you explain in words what a shift in the curve means.
Learn the command words
Cambridge uses nine command words at O Level, such as define, explain, analyse and discuss. Define means give the exact meaning, and explain means give reasons why or how. We practise each one so you know what kind of answer to write.
Timed past-paper practice
When you understand a topic, you answer past-paper questions in exam time. I mark your written work with clear feedback, and we go over it at the start of the next lesson.
Want to see these four steps in a real lesson?
Book a Trial ClassPreparation
The exam papers and past-paper practice
Paper 1
Multiple choice
- time
- 1 h
- marks
- [40]
- weight of the O Level
- 30%
40 questions on all the topics. Some include calculations or diagrams.
Paper 2
Structured questions
- time
- 2 h
- marks
- [80]
- weight of the O Level
- 70%
One 20-mark question on a real economy, then three 20-mark questions chosen from four.
This website does not share past papers or mark schemes. Students practise with papers they get from their school or from Cambridge.
minutes per mark in Paper 2: 80 marks in 2 hours, so about 30 minutes for each 20-mark question.
We start past-paper practice once you understand a topic and its diagrams. Then you answer questions on that topic in exam time.
In Cambridge’s specimen paper (a sample exam paper), the last part of each Section B question is worth 8 marks. It asks for evaluation, which means discussing both sides and giving reasons.
I mark your written answers with clear feedback. We go over it together at the start of the next lesson.
Sitting the exam in November 2026? You’ll take the older format. Paper 1 is 45 minutes with 30 questions, and Paper 2 is 2 hours 15 minutes for 90 marks.
Outcomes
What you’ll be able to do
Things you can do in your exam answers by the end of the course.
Explain each economic idea in your own words, with an example.
Draw and label diagrams such as the PPC, and explain what a shift means.
Find the command word in a question and know what kind of answer to write.
Use the text and data given in Paper 2 Section A in your answer.
Finish Paper 2 in the time allowed, at about 1.5 minutes per mark.
Questions
Common questions
01Which exam board and syllabus do you teach?
I teach Cambridge International (CAIE) O Level Economics, syllabus code 2281. Exams in 2027, 2028 and 2029 use the same syllabus, and that's the one this page describes.
02What does the exam look like?
There are two papers, and exams are in June and November. Paper 1 has 40 multiple choice questions in 1 hour (30% of the O Level). Paper 2 has structured questions for 80 marks in 2 hours (70%). If you sit the exam in November 2026, you'll take the older format: Paper 1 has 30 questions in 45 minutes, and Paper 2 is 90 marks in 2 hours 15 minutes.
03Do I need to have studied Economics before?
No. Cambridge doesn't expect any earlier study of Economics for O Level. We start with the basic economic problem and build up from there, one topic at a time.
04Is O Level Economics changing?
Yes. Cambridge offers O Level Economics in zones 3, 4 and 5 in 2026 and 2027. From 2028, it's offered in zone 4 only. Cambridge IGCSE Economics (0455) has the same topics, papers and marks, so ask your school which exam you'll sit. If you're an IGCSE student, send me a message and we can check if my lessons suit you.
05How much work is there between lessons?
You'll practise questions on the topic we covered. Closer to the exam, this becomes timed past-paper questions. I mark your written work, and we go over it at the start of the next lesson. We agree together how much work suits you.
06Are lessons one-to-one or in a group?
We agree the class format after the trial class. In either format, I mark your written work and you get your own feedback on it.
Next step
Start with a trial class.
We start with a short check of what you already know. Then I teach one topic, mark one exam-style answer and give you a plan. You don't have to book more lessons after it.