IGCSE Economics Paper 2 Exam Tips (and Tricks)
Paper 2 is your main challenge in IGCSE Economics - it's worth freaking 70% of your final grade and lasts 2 hours 15 minutes!
You'll face structured questions totalling 90 marks, answering one compulsory question plus three from a choice of four.
This paper tests your ability to apply economic concepts, analyse real-world situations, and form reasoned judgments.
In this guide we share our past experience preparing for the exam and what worked for us to get an A* in the end! (Lowkey at the end though, the hand hurts after so much writing 🥺)
Command Words
First and foremost , you should be aware of a set of command words to use. It is available in the syllabus but in case you missed it, here it is laid out conveniently in a table format:
| Command Word | What It Means |
|---|---|
| Analyse | Examine in detail to show meaning; identify elements and the relationship between them. |
| Calculate | Work out from given facts, figures, or information. |
| Define | Give precise meaning. |
| Describe | State the points of a topic; give characteristics and main features. |
| Discuss | Write about issue(s) or topic(s) in depth in a structured way. |
| Explain | Set out purposes or reasons; make the relationships between things clear; say why and/or how, and support with relevant evidence. |
| Give | Produce an answer from a given source or recall/memory. |
| Identify | Name, select, or recognise. |
| State | Express in clear terms. |
How Paper 2 is weighted for each Assessment Objective
There are 3 main Assessment Objectives (AO) in paper 2. Each AO has a specific skill that is being assessed. We recommend understanding these in order to have a well versed response for every question you attempt!
| Assessment Objective (AO) | Weighting in Paper 2 (%) | What is Measured (Skills Assessed) |
|---|---|---|
| AO1: Knowledge and understanding | 35% | - Recall and explain economic definitions, formulas, concepts, and theories- Use correct economic terminology |
| AO2: Analysis | 35% | - Select, organise, and interpret data- Recognise patterns and deduce relationships- Apply analysis using words, numbers, diagrams, and graphs- Break down and examine economic situations logically |
| AO3: Evaluation | 30% | - Make judgments about economic information- Differentiate reasoned analysis from unreasoned statements- Acknowledge uncertainties in outcomes of decisions and events- Communicate ideas clearly and logically |
Understanding Discussion Questions
Discussion questions are a critical component of IGCSE Economics Paper 2, requiring you to demonstrate analytical thinking, evaluation skills, and the ability to form reasoned judgments. The key to success lies in understanding what each question type requires and structuring your response accordingly.
Essential Rule for All Discussion Questions
If you're asked to "DISCUSS," always finish with a conclusion. This must be an overall judgment or opinion, not just a summary of points already made.
Question Types and Approach Strategies
1. "Discuss how..." Questions
Structure your response by:
- Providing clear reasons explaining how the situation occurs
- Supporting each reason with economic theory and examples
- Concluding by identifying which factor may be more important and why
2. "Discuss why..." Questions
Structure your response by:
- Providing clear reasons explaining why the situation occurs (focus on causes, not whether it happens)
- Supporting each reason with economic analysis
- Concluding by identifying which reason may be more important and justifying your choice
3. "Discuss whether..." Questions
Structure your response by:
- Arguing for the statement: Present reasons supporting the statement with evaluation
- Arguing against the statement: Present reasons opposing the statement with evaluation
- Concluding: Make a clear judgment about which side of the argument is stronger
Mark-Specific Guidelines
10-Mark Questions
Key Requirements:
- Use specified resources: If asked to "use items K, L & M," you must reference and analyze these sources
- Integrate own knowledge: Back up your references to the items with your own economic understanding
- Conclude with opinion: End with a clear judgment based on your analysis
15-Mark Questions
Type 1: "Discuss ways... and evaluate which one is best"
Structure your response by:
- Identifying at least 3 different ways/methods/approaches
- Evaluating each approach by explaining its strengths and limitations
- Concluding with your point of view on which approach is most effective and why
Type 2: "Discuss whether..." (15 marks)
Structure your response by:
- Presenting at least 2 strong arguments supporting the statement
- Presenting at least 2 strong arguments opposing the statement
- Evaluating and explaining each point with economic reasoning
- Concluding with your point of view on which side of the argument is more convincing
Specific Exam Technique for Paper 2
- Always conclude decisively - avoid sitting on the fence
- Use economic terminology accurately throughout your response
- Support arguments with examples from real economies when possible
- Evaluate consistently - don't just describe, analyze the significance and limitations
- Reference source material when required, but enhance it with your own knowledge
- Structure clearly - use paragraphs to separate different arguments or approaches
Practice Time!
Now that you are well equipped with some serious skills to tackle Paper 2, give the following past paper a shot. Time yourself and refer to the attached mark scheme to see how you did. Good Luck!
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