Cambridge International AS and A Level Economics (9708) exam guide
Every syllabus topic for 2026–2028, from 1.1 to 11.6, mapped to a free lesson, with how each paper is marked and a revision plan for AS and full A Level.
The papers at a glance
| Paper | What it is | Time | Marks | Weighting |
|---|---|---|---|---|
| Paper 1 | AS multiple choice: 30 questions | 1 hour | 30 | 33% of AS, 17% of A Level |
| Paper 2 | AS data response and essays: 1 data response (20), 1 micro essay from 2 (20), 1 macro essay from 2 (20) | 2 hours | 60 | 67% of AS, 33% of A Level |
| Paper 3 | A Level multiple choice: 30 questions | 1 hour 15 minutes | 30 | 17% of A Level |
| Paper 4 | A Level data response and essays, with unstructured essays | 2 hours | 60 | 33% of A Level |
Calculators are allowed in every paper, and formulas are not given, so you need to know them. Learn them with our free formula sheets. Exams run in the May/June and October/November series (and February/March in India).
AS Level topics (1–6)
AS 1: Basic economic ideas and resource allocation Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 1.1 | Scarcity, choice and opportunity cost | The Economic Problem |
| 1.2 | Economic methodology | The Economic Problem |
| 1.3 | Factors of production | The Economic Problem |
| 1.4 | Resource allocation in different economic systems | Economic Systems |
| 1.5 | Production possibility curves | The Production Possibility Curve |
| 1.6 | Classification of goods and services | Public Goods and Common Resources |
AS 2: The price system and the microeconomy Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 2.1 | Demand and supply curves | Demand, Supply |
| 2.2 | Price, income and cross elasticity of demand | Elasticity |
| 2.3 | Price elasticity of supply | Elasticity |
| 2.4 | The interaction of demand and supply | Market Equilibrium and Price |
| 2.5 | Consumer and producer surplus | Consumer and Producer Surplus |
AS 3: Government microeconomic intervention Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 3.1 | Reasons for government intervention | Government Intervention in Markets, Externalities |
| 3.2 | Methods and effects of intervention | Government Intervention in Markets |
| 3.3 | Addressing income and wealth inequality | Inequality and Redistribution |
AS 4: The macroeconomy Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 4.1 | National income statistics | Gross Domestic Product |
| 4.2 | Introduction to the circular flow of income | Gross Domestic Product |
| 4.3 | AD and AS analysis | Aggregate Demand, Aggregate Supply, Macroeconomic Equilibrium |
| 4.4 | Economic growth | The Business Cycle and Economic Growth, Economic Growth and Supply-Side Policy |
| 4.5 | Unemployment | Unemployment |
| 4.6 | Price stability | Inflation and Price Indices |
AS 5: Government macroeconomic intervention Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 5.1 | Macroeconomic policy objectives | Macroeconomic Objectives and Policy Conflicts |
| 5.2 | Fiscal policy | Fiscal Policy |
| 5.3 | Monetary policy | Monetary Policy |
| 5.4 | Supply-side policy | Economic Growth and Supply-Side Policy |
AS 6: International economic issues Papers 1 and 2
| Topic | What you must know | Learn it here |
|---|---|---|
| 6.1 | The reasons for international trade | Comparative Advantage |
| 6.2 | Protectionism | Trade Protection and Economic Integration, International Trade and Public Policy |
| 6.3 | Current account of the balance of payments | Trade, Exchange Rates and the Balance of Payments |
| 6.4 | Exchange rates | The Foreign Exchange Market |
| 6.5 | Policies to correct current account imbalances | Trade, Exchange Rates and the Balance of Payments |
A Level topics (7–11)
A Level 7: The price system and the microeconomy Papers 3 and 4
| Topic | What you must know | Learn it here |
|---|---|---|
| 7.1 | Utility | Marginal Analysis and Consumer Choice |
| 7.2 | Indifference curves and budget lines | Indifference Curves and Budget Lines |
| 7.3 | Efficiency and market failure | Externalities, Information Failure and Behavioural Economics |
| 7.4 | Externalities and social costs and benefits | Externalities |
| 7.5 | Costs, revenue, profit; short-run and long-run production | Production and Costs, Profit Maximisation and Firm Decisions |
| 7.6 | Different market structures | Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly, Price Discrimination |
| 7.7 | Growth and survival of firms | Growth, Objectives and Survival of Firms |
| 7.8 | Differing objectives and policies of firms | Growth, Objectives and Survival of Firms |
A Level 8: Government microeconomic intervention Papers 3 and 4
| Topic | What you must know | Learn it here |
|---|---|---|
| 8.1 | Policies to correct market failure | Government Policy and Market Structures, Externalities |
| 8.2 | Equity and redistribution | Inequality and Redistribution |
| 8.3 | Labour market forces and government intervention | Labour Markets, Factor Demand and the Least-Cost Rule |
A Level 9: The macroeconomy Papers 3 and 4
| Topic | What you must know | Learn it here |
|---|---|---|
| 9.1 | The circular flow of income and the multiplier | The Multiplier |
| 9.2 | Economic growth and sustainability | Economic Growth and Supply-Side Policy |
| 9.3 | Employment and unemployment | Unemployment |
| 9.4 | Money and banking | Money and Banking, The Money Market, Money Growth and Inflation |
A Level 10: Government macroeconomic intervention Papers 3 and 4
| Topic | What you must know | Learn it here |
|---|---|---|
| 10.1 | Policy objectives | Macroeconomic Objectives and Policy Conflicts |
| 10.2 | Links between macroeconomic problems | The Phillips Curve and Expectations, Macroeconomic Objectives and Policy Conflicts |
| 10.3 | Effectiveness of policy options | Macroeconomic Objectives and Policy Conflicts, Deficits, Debt and Crowding Out |
A Level 11: International economic issues Papers 3 and 4
| Topic | What you must know | Learn it here |
|---|---|---|
| 11.1 | Policies to correct balance of payments disequilibrium | Trade, Exchange Rates and the Balance of Payments |
| 11.2 | Exchange rates | The Foreign Exchange Market |
| 11.3 | Economic development | Economic Development |
| 11.4 | Characteristics of countries at different levels of development | Economic Development |
| 11.5 | Relationships between countries at different levels of development | Economic Development |
| 11.6 | Globalisation | Trade Protection and Economic Integration |
How the essays are marked
- Knowledge and understanding: accurate definitions and correct, fully labelled diagrams.
- Analysis: a logical chain of reasoning explaining how and why something happens, linked to the diagram.
- Evaluation: a supported judgement. Weigh up how far, in what circumstances and over what time period, and finish with a conclusion that answers the question.
- Paper 4 essays are unstructured, so plan the structure yourself: define, analyse both sides with diagrams, evaluate, conclude.
- Data response: quote figures from the extract, calculate correctly and use the data as evidence in your explanation.
Revision plan
| Week | Focus | Do this |
|---|---|---|
| 1–2 | AS topics 1–3 | Microeconomics, elasticity calculations, government intervention. |
| 3–4 | AS topics 4–6 | Macroeconomics, policy, trade and exchange rates. |
| 5 | AS papers | Timed Paper 1 and Paper 2 practice, marked against mark schemes. |
| 6–7 | A Level topics 7–8 | Utility, indifference curves, market structures, firms, labour markets. |
| 8–9 | A Level topics 9–11 | Multiplier, money, policy evaluation, development and globalisation. |
| 10 | Papers 3 and 4 | Timed full papers. Practise one unstructured essay every day. |
Ready to practise at exam level?
Economics Made Simple covers every unit with diagrams and full answer keys. The bundle adds 450 practice questions, flashcards and 100 case studies.
Further reading
Our earlier article on this exam, with more background: