Cambridge AS & A Level · Subject Code: 9708
AS & A Level Economics
From supply and demand to macroeconomic policy and international trade — master the forces that shape the global economy
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About AS & A Level Economics (9708)
Cambridge International AS & A Level Economics (9708) develops a thorough understanding of economic theory and its application to real-world issues — from microeconomic market structures and firm behaviour to macroeconomic policy, international trade, and development economics. It is one of the most highly valued A Level subjects for entry to Economics, Finance, PPE, Law, and Social Sciences at leading universities worldwide.
Our programme builds the analytical and evaluative skills that Cambridge examiners reward at the highest grades. Students master rigorous essay technique, data interpretation, and the ability to construct balanced, well-supported economic arguments — essential for both Paper 2 and Paper 4 extended responses.
Micro & Macroeconomics mastery
Cambridge-specialist Economics tutors
Essay technique & evaluation skills
Real-world application & case work
AS LEVEL — YEAR 12
Code: 9708
AS Level Economics Topics
The AS Level establishes core micro and macroeconomic principles — price systems, market structures, government intervention, national income, inflation, and international trade fundamentals.
- Basic Economic Ideas — scarcity, choice, opportunity cost, the economic problem, economic systems
- Government Intervention — price controls, taxes, subsidies, public goods, externalities, market failure
- Market Structures I — perfect competition — characteristics, short-run and long-run equilibrium, efficiency
- Labour Markets — wage determination, trade unions, monopsony, wage differentials
- Money and Banking — functions of money, commercial banks, central bank, monetary policy tools
- The Balance of Payments — current account, capital account, exchange rates, Marshall-Lerner condition
- The Price System — demand, supply, equilibrium, price elasticity (PED, PES, YED, XED)
- Theory of the Firm I — short-run production, law of diminishing returns, costs (fixed, variable, average, marginal)
- Monopoly — characteristics, profit maximisation, price discrimination, natural monopoly
- National Income — circular flow, GDP/GNI measurement methods, limitations of national income data
- Inflation — causes (demand-pull, cost-push), consequences, measuring CPI and RPI
A LEVEL — YEAR 13
Code: 9708
A Level Economics Topics
The full A Level advances into contestable markets, AS/AD modelling, growth theory, fiscal and supply-side policy, international trade theory, and development economics.
- Advanced Microeconomics — welfare economics, consumer and producer surplus, allocative efficiency
- Market Contestability — contestable markets, barriers to entry, hit-and-run competition
- Macroeconomic Models — AS/AD model, Keynesian vs monetarist debate, multiplier and accelerator
- Unemployment — types (frictional, structural, cyclical), causes, consequences, government policies
- Supply-Side Policies — labour market reforms, privatisation, deregulation, incentive effects
- Development Economics — characteristics of developing countries, aid, debt, trade vs aid debate
- Theory of the Firm II — oligopoly, monopolistic competition, game theory, kinked demand curve
- Labour Market Economics — human capital theory, income distribution, Lorenz curve and Gini coefficient
- Economic Growth — sources, long-run growth theory, sustainable development, HDI vs GDP
- Fiscal Policy — government budget, taxation principles, Laffer curve, crowding out, automatic stabilisers
- International Trade — comparative advantage, terms of trade, trade policies, WTO and regional blocs
AS Level Exam Papers
Comprehensive preparation for every exam component
Paper 1 — Multiple Choice
30 multiple choice questions covering microeconomics and macroeconomics at AS Level. Tests breadth of knowledge across all AS topics with equal weighting.
- Duration
- 1 hr
- Marks
- 30 Marks
Paper 2 — Data Response & Essays
Section A: compulsory data response questions. Section B: choice of two from four structured essay questions. Tests analysis and evaluation skills.
- Duration
- 2 hr
- Marks
- 70 marks
A Level Exam Papers
Comprehensive preparation for every exam component
Paper 3 — Case Study
30 multiple choice questions covering both AS and A Level Economics content — microeconomics, macroeconomics, and international economics.
- Duration
- 1 hr
- Marks
- 30 Marks
Paper 4 — Essay
Choice of structured essay questions requiring high-level evaluation, judgement, and synthesis of A Level Business Studies concepts and theories.
- Duration
- 2 hr 15 min
- Marks
- 70 Marks
Student Success Stories
"A Level Economics at EDU-RADIATION completely changed how I think about the world. Game theory, contestable markets, and the AS/AD model were taught with such analytical rigour. The essay writing technique — structured evaluation with clear judgements — was exactly what examiners wanted. A* achieved!"
"The AS Level content is deceptively broad — PED, externalities, monetary policy, and the balance of payments all in one year! EDU-RADIATION structured every topic logically, with past paper practice embedded throughout. My data response scores jumped from 60% to 90% with their technique. Scored A!"
"Development economics, supply-side policies, and the Keynesian vs monetarist debate were brilliantly taught — real-world examples made abstract theory tangible. The Lorenz curve and Gini coefficient sessions were particularly clear. EDU-RADIATION makes economics feel like a superpower, not a subject!"
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