Desired Outcomes of Education and Learning of Economics in Singapore The Desired Outcomes of Education (DOE) are attributes that educators aspire for every Singaporean to have by the completion of his formal education. The person who is schooled in the Singapore Education system embodies the Desired Outcomes of Education. In sum, he is

  • a confident person who has a strong sense of right and wrong, is adaptable and resilient, knows himself, is discerning in judgment, thinks independently and critically, and communicates effectively
  • a self-directed learner who takes responsibility for his own learning, who questions, reflects and perseveres in the pursuit of learning
  • an active contributor who is able to work effectively in teams, exercises initiative, takes calculated risks, is innovative and strives for excellence; and,
  • a concerned citizen who is rooted to Singapore, has a strong civic consciousness, is informed, and takes an active role in bettering the lives of others around him.

The value of learning Economics is aligned with the Desired Outcomes of Education and 21st Century Competencies (21CC). Through the inquiry of economic issues and application of concepts, theories and principles, students develop the capacity to analyse and evaluate the behaviour of economic agents in the allocation of scarce resources. In understanding domestic, regional and global economic issues, students adopt multiple perspectives, recognise trade-offs and consequences arising from decision-making and arrive at wellreasoned decisions. Students thus acquire knowledge and develop skills and values that will enable them to be active contributors and concerned citizens.

Economics curriculum shape and decision-making approach in Economics


Economics Curriculum Shape

The Economics Curriculum Shape sets the direction for and encapsulates the concept of learning A-Level Economics in Singapore. At the core of the curriculum shape is the Decision-Making Approach in Economics which guides disciplinary thinking in A-Level Economics. This approach emphasises Sound Reasoning and Decision-Making, which are components under the 21CC domain of Critical and Inventive Thinking. It enables students to better analyse and evaluate how different economic agents make decisions based on the fundamental disciplinary concepts of scarcity, choice and opportunity costs.

The middle ring of the curriculum shape highlights that students learn knowledge, skills and values through inquiry of domestic, regional and global economic issues. By applying the Decision-Making Approach in Economics, students will be able to better analyse and understand the implications of policy decisions arising from these issues.

The outer ring shows the Knowledge, Skills and Values learnt through the curriculum. The Knowledge segment signifies that students will learn economic concepts, theories and principles, as well as tools of economic analysis. The Skills segment represents inquiry, data and information, and economic analysis and evaluation skills that students will develop. The Values segment highlights the values of responsibility, resilience and empathy that students will develop through the learning of Economics. Focusing on these skills and values will allow the Economics Curriculum to support the development of MOE’s 21CC.

Decision-Making Approach in Economics

In the light of the Central Economic Problem of scarcity, decision-making is fundamental. Scarcity leads to the inevitability of choice and trade-offs. In the context of A-Level Economics, decision-making is framed as a process where students analyse how decisions are made from the perspectives of different economic agents (consumers, producers, governments), adjusting for dynamic changes where relevant. Students will consider the benefits, costs, constraints, perspectives and other necessary information, while recognising the impact of the intended and unintended consequences arising from the decisions made and the corresponding trade-offs. Students will also recognise that decision-making by economic agents can have multifaceted implications, where decisions made by an economic agent can have an impact on other economic agents.


The syllabus is intended to provide the basis for a broad understanding of economics, within half the curriculum time of the H2 Economics syllabus. Specifically, the syllabus aims to develop in candidates:

  1. An understanding of fundamental economic concepts, theories and principles, and of the tools and methods of analysis used by economists
  2. The ability to use the tools and methods of economic reasoning to explain and analyse economic issues, and to evaluate perspectives and decisions of economic agents
  3. The habit of reading critically, from a variety of sources, to gain information about the changing economic activities and policies at the national and international levels; and
  4. The ability to use evidence in making well-reasoned economic arguments to arrive at rational and considered decisions.


Candidates are expected to:

AO1: Knowledge and Understanding

  • Demonstrate knowledge and understanding of economic concepts, theories and principles.

AO2: Interpretation and Evaluation of Information

  • Interpret economic information presented in textual, numerical or graphical form.
  • Make valid inferences based on the information presented and its limitations.

AO3: Application and Analysis

  • Apply relevant economic concepts, theories and principles to analyse contemporary issues, perspectives and policy choices.
  • Apply relevant economic concepts, theories and principles to analyse contemporary issues, perspectives and policy choices.

AO4: Evaluation

  • Evaluate critically contemporary issues, perspectives and policy choices.
  • Recognise unstated assumptions and evaluate their relevance.
  • Synthesise economic arguments to arrive at well-reasoned judgements and decisions


The assessment comprises one compulsory written examination paper: Paper 1 (Case Studies).

Specification grid

H1 Economics Description Overall Marks (Weighting) Duration
Paper 1 There will be two compulsory case studies. 80 marks 3 hours
Case Studies Candidates are required to answer all questions for each case study. Each case study carries 40 marks and constitutes 50% of the total marks. About 16 marks of each set of case study questions will be for data response questions, and about 24 marks will be for higher-order questions. (100%)  

For Paper 1, questions testing AO1 + AO2 + AO3 will comprise about 40% of the marks and questions testing AO1 + AO2 + AO3 + AO4 will comprise about 60% of the marks.


The syllabus content comprises three core themes:

As an introduction to the study of Economics, candidates should have an awareness of the nature of Economics as a social science (as compared to the natural sciences) and the differences between positive and normative economics, microeconomics and macroeconomics.

Theme 1: The Central Economic Problem

Theme 1 introduces candidates to the Central Economic Problem of unlimited wants and limited resources.

Theme 1.1 Scarcity as the Central Economic Problem

Theme 1.1 Scarcity as the Central Economic Problem (continued)

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Theme 2: Markets

In Theme 2, candidates examine how markets deal with the Central Economic Problem and how decisions are made by economic agents in markets.

Theme 2.1 Price Mechanism and its Applications

Theme 2.2 Microeconomic Objectives and Policies

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Theme 3: The National Economy

Theme 3 provides candidates with an overview of the workings and linkages of the national and international economy.

Theme 3.1 Introduction to Macroeconomic Analysis

Theme 3.2 Macroeconomic Objectives and Policies

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Source: https://www.seab.gov.sg/docs/default-source/national-examinations/syllabus/alevel/2023syllabus/8843_y23_sy.pdf

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