Economics is an examination-focused coursebook designed to support students in their understanding of the Cambridge International AS & A Level Economics (9708) topics. It provides in-depth coverage of the latest 2023–2025 syllabus and features insights and tips that can help students advance through their studies and examinations with confidence.



Written by the best-selling author of Economics: Model Essays, this book is filled with features that can help students build strong subject knowledge and confidence in applying their understanding. 

Among the book highlights are past examination questions, study tips and must-know points on tackling examination questions, review questions to reinforce learning, and real-life application of key economic concepts to world events that can give your examination answers an edge.

This book is suitable for students undertaking Cambridge International AS & A Level Economics (9708).

How to use this book

AS Level

Chapter 1 Basic Economic Ideas and Resource Allocation
1.1 Scarcity, choice and opportunity cost
1.2 Economic methodology
1.3 Factors of production
1.4 Resource allocation in different economic systems
1.5 Production possibility curves
1.6 Classification of goods and services

Chapter 2 The Price System and the Microeconomy
2.1 Demand and supply curves
2.2 Price elasticity, income elasticity and cross elasticity of demand
2.3 Price elasticity of supply
2.4 The interaction of demand and supply
2.5 Consumer and producer surplus

Chapter 3 Government Microeconomic Intervention
3.1 Reasons for government interventions in markets
3.2 Methods and effects of government intervention in markets
3.3 Addressing income and wealth inequality

Chapter 4 The Macroeconomy
4.1 National income statistics
4.2 Introduction to the circular flow of income
4.3 Aggregate demand and aggregate supply analysis
4.4 Economic growth
4.5 Unemployment
4.6 Price stability

Chapter 5 Government Macroeconomic Intervention
5.1 Government macroeconomic policy objectives
5.2 Fiscal policy
5.3 Monetary policy
5.4 Supply-side policy

Chapter 6 International Economic Issues
6.1 The reasons for international trade
6.2 Protectionism
6.3 Current account of the balance of payments
6.4 Exchange rates
6.5 Policies to correct imbalances in the current account of the balance of payments


A2 Level

Chapter 7 The Price System and the Microeconomy
7.1 Utility
7.2 Indifference curves and budget lines
7.3 Efficiency and market failure
7.4 Externalities
7.5 Cost, revenue and profit
7.6 Different market structures
7.7 Growth and survival of firms
7.8 Differing objectives and policies of firms

Chapter 8 Government Microeconomic Intervention
8.1 Government policies to correct market failure
8.2 Equity and redistribution of income and wealth8.3 Labour market forces and government intervention

Chapter 9 The Macroeconomy
9.1 The circular flow of income
9.2 Economic growth and sustainability
9.3 Employment and unemployment
9.4 Money and banking

Chapter 10 Government Macroeconomic Intervention
10.1 The interconnectedness of problems
10.2 Effectiveness of policies to meet macroeconomic objectives

Chapter 11 International Economic Issues
11.1 Policies to correct disequilibrium in balance of payments
11.2 Exchange rates
11.3 Economic development
11.4 Characteristics of countries at different levels of development
11.5 Relationship between countries at different levels of development
11.6 Globalisation
11.7 Economic integration






Wong Wai Leong is an Economics lecturer at Sunway College, Malaysia, with more than 25 years of teaching experience. His students have won Cambridge Top in the World and Top in Malaysia awards in A Level Economics. He is also the author of the best-selling book Economics: Model Essays.