CJC > Education > Humanities > Economics


Through the learning and application of economic concepts, theories and principles, students develop the capacity to assess the role of economic agents in the allocation of scarce resources and deepen their awareness and understanding of real-world economic issues at the individual, national and international levels. This will help them to adopt multiple perspectives in understanding real-world economic issues. Students will learn to recognize trade-offs and consequences that arise from decision-making to arrive at well-reasoned decisions. Students thus develop a set of knowledge, skills and values that encourages them to take an active interest in the domestic and global economy.

Aims of the Economics Syllabus

The Economics syllabus aims to develop in students:

1. an understanding of fundamental economic concepts, theories and principles, and of the tools and methods of analysis used by economists;

2. the ability to use the tools and methods of economic reasoning to explain and analyse economic issues, and to evaluate perspectives and decisions of economic agents;

3. the habit of reading critically, from a variety of sources, to gain information about the changing economic activities and policies at the national and international levels; and

4. the ability to use evidence in making well-reasoned economic arguments to arrive at rational and considered decisions.

Assessment in the New Curriculum

Broadly speaking, students will be assessed on four levels:

  • Knowledge and Understanding: Demonstrate knowledge and understanding of economic concepts, theories and principles;

  • Interpretation and Evaluation of Information: Interpret economic information presented in textual, numerical and graphical form; Make valid inferences from information presented and evaluate the reliability of information given 

  • Application and Analysis: Apply relevant economic concepts, theories and principles to analyse contemporary issues, perspectives and policy choices; Construct coherent economic arguments 

  • Evaluation: Evaluate critically alternative theoretical explanations, contemporary issues, perspective and policy choices; Recognise unstated assumptions and evaluate their relevance; Synthesise economic arguments to arrive at well-reasoned judgments and decisions

Differences between H1 & H2 Economic syllabuses


Overview of Topics


H1 Economics


1.1 How the Microeconomy Works
1.2 Why Markets Fail
2.1 How the Macroeconomy Works
2.2 Macroeconomic Aims, Problems/Issues, Consequences and Policies
2.3 International Economy



One 3-hour paper marked out of 100 

-        Section A: 2 Case Studies – 60 marks, weighting 70% of total marks

-        Section B: Essay – 25 marks, weighting 30% of total marks


H2 Economics (New Syllabus 9757)

1.1 Scarcity as the Central Economic Problem

2.1 Price Mechanism and its Applications

2.2 Firms and Decisions

2.3 Market Failure

3.1 Introduction to Macroeconomics

3.2 Macroeconomic Aims and Policies

3.3 Globalisation and the International Economy

Two 2hour 15min papers:

Paper 1 (2 hour 15 min): 2 Case studies, 60marks, weighting 40% of total marks


Paper 2 (2h 15 min): Essays, 75marks, weighting 60% of total marks



The coverage of H2 Economics is wider than H1 (see topics covered above) but the rigour, in terms of writing and thinking skills, is similar.

Frequently Asked Questions

1. Is Economics a business subject? 

No. Economics at 'A' level is more of a humanities subject rather than a business subject.

2. Is Economics similar to Social Studies? 

Although both are humanities subjects, Economics is a new framework of thinking and requires skills that are quite different from Social Studies, or any other subject. A good Economics student is able to use tools of economic reasoning to explain, analyse and resolve economic issues, evaluate policy decisions, read critically and use evidence to help make rational economic arguments.  There are many theories that you will need to master in Economics.  Compare to social studies in O level, Economics in A level requires a higher level of thinking and writing.

3. Is Economics similar to Human Geography?

While they are both humanities subjects, the skills required and approach to each subject is very different.  A level Geography is also very different from O level Geography in terms of rigour and depth.

4. How will the examination be like?

Refer to the assessment description in previous section.  Be prepared to write a lot.  For example, a typical essay length will be 4 to 6 sides of A4 paper.  You will also need to use a lot of Economic theories and contextual examples to support your arguments.

5. Is Economics required for admissions to University? 

No. Economics is not a prerequisite for any course in the local universities (including business courses).  Please check with respective universities for any updates or changes (Information is correct as at print time).

6. How do I qualify for H3 Economics?

We will specifically look at your JC1 examination results for H2 Economics & GP for MOE UCLES H3.  You must also do well in other non-related subjects.  There will be a probation period for MOE UCLES H3. Comments and recommendations by respective tutors will also be taken into consideration.  All these are to ensure that you are able to cope with the rigour and intensity of the H3 syllabus without jeopardising other subjects.

7. What are some references for Economics?

Sloman, J, Wride, A, Garratt D (2012) Economics, 8th Ed, Pearson Education

Mankiw, G (2014) Principles of Economics, 7th Ed, Cengage Learning

The Economist (Under the section Finance & Economics)