Scheme of assessment

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This specification is designed to be taken over two years.

This is a linear qualification. In order to achieve the award, students must complete all assessments at the end of the course and in the same series.

GCSE exams and certification for this specification are available for the first time in May/June 2019 and then every May/June for the life of the specification.

All materials are available in English only.

Our GCSE exams in Economics include questions that allow students to demonstrate their ability to:

  • draw together their knowledge, skills and understanding from across the full course of study
  • provide extended responses.

Aims and learning outcomes

Courses based on this specification should encourage students to:

  • understand how markets operate and the roles of consumers, producers or workers within markets
  • understand how the economy works nationally and globally and the levers employed by governments to reach desired social and economic objectives
  • actively engage in the study of economics to develop as effective and self-motivated students, and as critical and reflective thinkers with enquiring minds, able to distinguish between fact and opinion
  • understand and apply their economic knowledge and skills, to investigate current and historical economic situations and issues in a range of national and global contexts
  • build economic arguments and make informed judgements by using economic concepts and quantitative evidence through the use, application and interpretation of data
  • understand the perspectives of different economic agents including consumers, producers and government in relation to economic activity
  • consider moral and ethical and sustainability issues that arise as a result of the impact of economic activity.

Assessment objectives

Assessment objectives (AOs) are set by Ofqual and are the same across all GCSE Economics specifications and all exam boards.

The exams will measure how students have achieved the following assessment objectives.

  • AO1: Demonstrate knowledge and understanding of economic concepts and issues.
  • AO2: Apply knowledge and understanding of economic concepts and issues to a variety of contexts.
  • AO3: Analyse and evaluate economic evidence and issues to demonstrate understanding of economic behaviour, make judgements and draw conclusions.

Assessment objective weightings for GCSE Economics

Assessment objectives (AOs) Component weightings (approx %) Overall weighting (approx %)
Paper 1 Paper 2
AO1 17.5 17.5 35
AO2 17.5 17.5 35
AO3 15 15 30
Overall weighting of components 50 50 100

Assessment weightings

The marks awarded on the papers will be scaled to meet the weighting of the components. Students’ final marks will be calculated by adding together the scaled marks for each component. Grade boundaries will be set using this total scaled mark. The scaling and total scaled marks are shown in the table below.

Component Maximum raw mark Scaling factor Maximum scaled mark
How markets work 80 x1 80
How the economy works 80 x1 80
Total scaled mark: 160