Current syllabus · first assessment 2026

A-Level Economics AS Study Guide & Review

Prepare for Cambridge International AS Level Economics 9708 by connecting precise concepts, formulae, diagrams and source evidence to causal analysis and conditional evaluation across Papers 1 and 2.

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  1. 01Learn concepts
  2. 02Practise questions
  3. 03Review mistakes

How to study Cambridge AS Economics 9708

Cambridge AS Economics rewards reasoning through a model, not recalling a definition alone. Use the AS syllabus map to connect scarcity, markets, intervention, macroeconomic performance, policy and international transmission. For each question, identify the variable and direction, state the assumption, draw and label the change, trace its causal effects and decide which magnitude, time horizon, stakeholder or initial condition changes the conclusion.

Rebuild the concept, formula or diagram in Concept and retrieve the mechanism in Mastery before applying it through the Question Bank. Mark the first failure as meaning, assumption, percentage base, diagram direction, causal link, source selection, command word, relevance or unsupported judgement. Repair that exact step, then retry a matched Paper 1 or Paper 2 task without notes.

Practise AS Economics through models and evidence

Combine exact concepts, calculations, labelled diagrams, policy transmission, source evidence and supported evaluation across the six official AS groups and both papers.

Scarcity, methodology and PPCs

Opportunity cost, factors, systems, goods, positive and normative statements, movement and shifts

Distinguish near-neighbour concepts, state the assumption or trade-off and build accurately labelled PPCs. Explain whether evidence shows movement or a shift, connect the change to resource allocation and evaluate only after identifying the actual choice or constraint.

Practise Topic 1

Markets, elasticity and surplus

Demand, supply, equilibrium, elasticity, consumer surplus and producer surplus

Identify the changing determinant, shift the correct curve and establish equilibrium effects before calculating. Use the correct percentage base, classify the elasticity, then connect it to revenue, incidence, surplus or stakeholder outcomes rather than stopping at the coefficient.

Practise Topic 2

Microeconomic intervention

Taxes, subsidies, price controls, provision, regulation and redistribution

Compare interventions as objective → mechanism → market or stakeholder effect → limitation → judgement. Draw and label the relevant market change, use incidence or welfare evidence where appropriate and name the condition under which the policy may fail or become preferable.

Practise Topic 3

Macroeconomic and international transmission

National income, AD/AS, growth, unemployment, inflation, policy, trade, exchange rates and current account

Separate level from rate and nominal from real, select source figures and shift AD, AS or currency-market relationships accurately. Trace spending, costs, competitiveness and stakeholder effects, then weigh conflicts, time lags, elasticity and initial conditions before judging policy.

Practise Topics 4–6

Paper 1 and Paper 2 repair

MCQ distractors, data response, calculations, diagrams, micro and macro essays, analysis and evaluation

For Paper 1, explain why the keyed option is strongest and every distractor fails. For Paper 2, annotate the command and marks, select source evidence, add theory, diagram or calculation, build a causal chain and finish with a conditional judgement that answers the exact question.

Practise both papers

Where to start

Start with one known weak Topic or use mixed evidence to locate the first repeated concept, formula, diagram, analysis, source-use or evaluation failure.

Choose your starting point

  1. I know the weak Topic

    Open its exact group and identify the concept, assumption, formula, diagram, causal mechanism or judgement that is failing.

    Browse Topics 1.1–6.5

  2. I do not know what is weak

    Use mixed AS questions to separate weak retrieval from calculation, diagram, source-based analysis, relevance or evaluation problems.

    Start a diagnostic

Choose the right AS Economics starting point

  1. Build the economic model

    Define and contrast the concept, state assumptions and construct the formula, diagram or transmission mechanism precisely.

    Review a Concept

  2. Retrieve and apply

    Recall without notes, use a new numerical, diagrammatic or written context and trace causes into economic consequences.

    Check Mastery

  3. Answer, judge and repair

    Match the command, compare against AO evidence and rewrite the first failed calculation, analysis, source-use or evaluation link.

    Practise questions

Explore Cambridge AS Economics Topics 1.1–6.5

Navigate 29 Topics across basic economic ideas, markets, microeconomic intervention, the macroeconomy, macroeconomic policy and international issues. The map follows syllabus Version 2 for examinations in 2026, 2027 and 2028 and excludes A-Level-only Topics 7.1–11.6.

6
syllabus groups
29
mapped topics

1. Basic economic ideas and resource allocation

Open unit questions
1.1 Scarcity, choice and opportunity cost1.2 Economic methodology1.3 Factors of production1.4 Resource allocation in different economic systems1.5 Production possibility curves1.6 Classification of goods and services

2. The price system and the microeconomy

Open unit questions
2.1 Demand and supply curves2.2 Price elasticity, income elasticity and cross elasticity of demand2.3 Price elasticity of supply2.4 The interaction of demand and supply2.5 Consumer and producer surplus

3. Government microeconomy intervention

Open unit questions
3.1 Reasons for government intervention in markets3.2 Methods and effects of government intervention in markets3.3 Addressing income and wealth inequality

4. The Macroeconomy

Open unit questions
4.1 National income statistics4.2 Introduction to the circular flow of income4.3 Aggregate Demand and Aggregate Supply analysis4.4 Economic growth4.5 Unemployment4.6 Price stability

5. Government macroeconomic intervention

Open unit questions
5.1 Government macroeconomic policy objectives5.2 Fiscal policy5.3 Monetary policy5.4 Supply-side policy

6. International economic issues

Open unit questions
6.1 The reasons for international trade6.2 Protectionism6.3 Current account of the balance of payments6.4 Exchange rates6.5 Policies to correct imbalances in the current account of the balance of payments

Cambridge AS Economics 9708 assessment

AS candidates take Paper 1 and Paper 2 in the same series. Multiple-choice reasoning, compulsory source analysis, calculations, diagrams and selected microeconomic and macroeconomic essays require distinct preparation behaviours.

Paper / componentQuestionsTime% of grade
Paper 1 AS Level Multiple Choice30 compulsory four-option multiple-choice questions30 marksCandidates record one answer per question on the supplied answer sheet; items assess AS concepts, diagrams, calculations, relationships, policy effects and evaluation.How to prepare: Compare all four options, especially for most- or least-likely wording; check definitions, percentage bases, diagram direction, assumptions and full policy transmission, then record why each distractor fails.1 hour33% of AS Level
Paper 2 AS Level Data Response and EssaysOne compulsory 20-mark data response, one 20-mark microeconomics essay and one 20-mark macroeconomics essay60 marksSection A uses embedded written, numerical and/or diagrammatic source material; Sections B and C each require one selected two-part essay from a choice of two.How to prepare: Allocate effort by marks, select exact source evidence, show formulas, label diagrams and build linked analysis; for essays compare relevant arguments and make evaluation depend on assumptions, magnitude, time and stakeholders.2 hours67% of AS Level

SourceCambridge International · Cambridge International AS & A Level Economics 9708 syllabus9708 · Version 2 · exams 2026, 2027 and 2028

Cambridge AS Economics 9708 questions

Calculators may be used for all Economics 9708 papers, subject to the current paper front and Cambridge regulations. Formulae are not supplied, so learn the required syllabus formula, show it when requested, substitute with the correct percentage base and preserve the supplied unit or currency. Do not assume a separate formula or data booklet.

No. This AS Course covers Topics 1.1–6.5 and Papers 1–2, producing AS grades a–e. In the full A Level these papers contribute 17% and 33%, while advanced Topics 7.1–11.6 and Papers 3–4 are handled separately. Carry-forward remains subject to current Cambridge rules.

No. Paper 2 Section A contains its written, numerical and/or diagrammatic evidence inside the examination paper. It is not a pre-release case study or separate source insert. Practise selecting only evidence relevant to each command and combining it with theory, calculation, diagram, analysis or evaluation as the marks require.

Version 2 updated one web link and Cambridge reports no significant teaching change; specimen materials were not updated for that revision. Papers from March 2026 may look different because of accessibility formatting, but Cambridge says content, demand and question types are unchanged. Use the current syllabus and paper front as controlling sources.