H1 Or H2 Econs: What Is The Difference Between Them?

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Congratulations J1s! You have successfully entered JC (hopefully your ideal one). Now that orientation is over, you have reached the next phase of your induction. Which subject should I choose? Should I even choose Economics? Let’s assume you have decided to take Econs. But should I pick H1 or H2 Econs? What is the main difference between them?

What is the H1 Economics Syllabus?

Note: Topics 1.1, 2.1 and 2.2 are covered in the first year (JC1). 3.1 is also briefly covered in the first year. The second year (JC2) covers mainly 3.1 and 3.2.

Examination/Assessment Format

Exam Details

• Type of Exam: 1 written paper
• Duration: 3 hours
• Format: Case Studies

Case Study Content

• There will be two compulsory case studies
• Candidates are required to answer 6-8 questions, with subparts
• 2-3 pages of economic data presented in text, numerical, or graphical form

Marks Breakdown

• 40% of the questions are for data response questions
• 60% of the questions are oriented towards higher-order questions

Theme 1: The Central Economic Problem

In Theme 1, H1 economics students will learn the fundamental causes behind economic decisions made by consumers, producers, and governments.

Learners will be presented with the concept of scarcity, and study how resource allocation can be viewed using economic models, such as the production possibility curve (PPC), and how governments can maximize profits, utility, and social welfare.

Content

1.1 Scarcity as the Central Economic Problem

• 1.1.1 Scarcity, choice and resource allocation

• 1.1.2 Rational decision-making process by economic agents

Key Concepts/Tools

• Scarcity, choice and opportunity cost

• Production possibility curve (PPC)

• Marginal cost, marginal benefit and marginalist principle

Theme 2: Markets

Theme 2 will help students comprehend how individuals in markets make decisions, as viewed through the price mechanism, and the interactions of demand and supply forces that produce market equilibrium. However, because the price mechanism may not always function efficiently, market failure can arise, which thereby requires government intervention.

Content

2.1 Price Mechanism and its Applications

• 2.1.1 Price mechanism and its functions

• 2.1.2 Interaction of demand and supply

• 2.1.3 Applications of demand and supply analysis to real-world markets

2.2 Market Failure

• 2.2.1 Efficiency and equity in relation to markets

• 2.2.2 Market failure and its causes

• 2.2.3 Government intervention in markets

Key Concepts/Tools

• Price mechanism

• Consumer sovereignty

• Ceteris paribus

• Demand and Supply

• Market equilibrium (price & quantity)

• Market disequilibrium (shortage & surplus)

• Price elasticity of demand and supply

• Consumer expenditure and producer revenue

• Taxes and subsidies

• Price controls

• Quantity controls

Theme 3: The National Economy

In Theme 3, students will analyse how governments conduct national policymaking to improve the standard of living.

Policy decisions are based on an examination of the factors that impact aggregate demand (AD) and aggregate supply (AS), which then determines the equilibrium level of the general price level and national output.

Additionally, students will identify what influences an economy’s standard of living, including GDP per capita. After understanding the country’s economic performance, governments will execute policies to attain certain macroeconomic goals, such as improved living standards and long-term economic growth.

Content

3.1 Introduction to Macroeconomics

• 3.1.1 Aggregate demand (AD) and aggregate supply (AS)

3.2 Macroeconomic Objectives and Policies

• 3.2.1 Standard of living and its indicators

• 3.2.2 Factors affecting standard of living

• 3.2.3 Macroeconomic policies to improve standard of living

Key Concepts/Tools

• Market failure

• Allocative efficiency

• Equity

• Deadweight loss

• Marginal private benefit and cost

• Marginal external benefit and cost

• Marginal social benefit and cost

• Social versus private (market) optimum

• Over-consumption and production

• Under-consumption and production

• Public goods

• Positive and negative externalities

• Merit and demerit goods

What is the H2 Economics Syllabus?

Note: Themes 1 & 2 are covered in the first year (JC1). The second year (JC2) covers mainly theme 3.

Examination/Assessment Format

Exam Details

• Type of Exam: 2 written papers

• Duration: 2.5 hours for each paper

• Format: Case Studies (Paper 1), Essays (Paper 2)

Case Study Content (40%)

• There will be two compulsory case studies.

• Candidates are required to answer 6-7 questions, with subparts

• 2-3 pages of economic data presented in text, numerical, or graphical form

Essay Content (60%)

• There will be 6 essay questions.

• Candidates are required to answer 3 essay questions: 1 from Section A, 1 from Section B, and 1 from either Section A/B

• Section A: Microeconomics questions — each question carries 25 marks

• Section B: Macroeconomics questions — each question carries 25 marks

Theme 1: The Central Economic Problem

In Theme 1, H2 economics students will learn the fundamental causes behind economic decisions made by consumers, producers, and governments. They will be presented with the concept of scarcity, and study how resource allocation can be viewed using economic models, such as the production possibility curve (PPC), and how governments can maximize profits, utility, and social welfare.

Content

1.1 Scarcity as the Central Economic Problem

• 1.1.1 Scarcity, choice and resource allocation

• 1.1.2 Decision-Making Process of Economic Agents

Key Concepts/Tools

• Scarcity, choice and opportunity cost

• Production possibility curve (PPC)

• Marginal cost, marginal benefit and marginalist principle

Theme 2: Markets

Theme 2 will provide students with insights into real-world economic issues and the understanding of microeconomic concepts for Singapore and the global economy. In particular, this theme will focus on how individuals in markets make decisions, economic strategies adopted by firms to reach their objectives, market failure, and government intervention.

Content

2.1 Price Mechanism and its Applications

• 2.1.1 Price mechanism and its functions

• 2.1.2 Demand and Supply Analysis and its Applications

• 2.1.3 Government Intervention in Markets

Key Concepts/Tools

• Price mechanism

• Ceteris paribus

• Consumer sovereignty

• Ceteris paribus

• Demand and Supply

• Market equilibrium (price & quantity)

• Market disequilibrium (shortage & surplus)

• Price elasticity of demand and supply

• Income elasticity of demand

• Cross elasticity of demand

• Consumer expenditure and producer revenue

• Consumer surplus and producer surplus

• Taxes and subsidies

• Price controls

• Quantity control

2.2 Firms and Decisions

• 2.2.1 Objectives of Firms

• 2.2.2 Cost and Revenue

• 2.2.3 Firms’ Decisions and Strategies

Key Concepts/Tools

• Profit maximisation condition

• Revenue maximisation, profit satisficing, market share dominance

• Total cost, average cost, marginal cost

• Total revenue, average revenue, marginal revenue

• Internal and external economies and diseconomies of scale

• Third-degree price discrimination

• Shut-down condition

• Product differentiation

• Barriers to entry

• Competition versus collusion

• Efficiency

• Consumer welfare

2.2 Microeconomic Objectives and Policies

• 2.2.1 Governments’ Microeconomic Objectives

• 2.2.2 Market Failure and its Causes

• 2.2.3 Microeconomic Policies

Key Concepts/Tools

• Allocative efficiency

• Equity

• Market failure

• Deadweight loss

• Marginal private benefit and cost

• Marginal external benefit and cost

• Marginal social benefit and cost

• Social versus private (market) optimum

• Public goods

• Positive and negative externalities

• Information failure

• Market dominance

• Factor immobility

Theme 3: The National and International Economy

In Theme 3, students will explore the complexities of economic decision-making at the national and international levels. They will grapple with resource scarcity and trade-offs through the use of concepts, theories, and principles from Themes 1 and 2.

Content

3.1 Introduction to Macroeconomics

• 3.1.1 Circular Flow of Income

• 3.1.2 Aggregate demand (AD) and aggregate supply (AS)

Key Concepts/Tools

• Circular flow of income

• Aggregate demand

• Determinants of C, I, G and (X – M)

• Aggregate supply

• Determinants of aggregate supply

• National output

• General price level

• Multiplier effect

3.2 Macroeconomic Objectives and Policies

• 3.2.1 Standard of Living and Macroeconomics Indicators

• 3.2.2 Macroeconomic Issues

• 3.2.3 Macroeconomic Policies

Key Concepts/Tools

• Standard of living

• Economic growth

• Full employment and unemployment

• Price stability

• Nominal and real concepts

• Balance of trade surplus and deficit

• Short-term capital flows

• Long-term capital flows

• Discretionary fiscal policy

• Government budget surplus and deficit

• Monetary policy

• Supply-side policies

3.2 Globalisation and the International Economy

• 3.2.1 Globalisation, International Trade and Economic Co-operation

Key Concepts/Tools

• Globalisation

• Free trade

• Protectionism

• International and regional economic co-operation

What is the Difference Between H1 and H2 Econs?

Content

Evidently, H1 has much less content than H2. To exemplify, Market Structure, a topic where students get to learn the behaviour of firms (such as price wars between SingTel and Stahub), is not in the H1 Syllabus. 

A rough estimation of the difference in content is that H1 is approximately 60% of that of H2.

Difficulty

H1 and H2 Econs have different emphases. H1 Econs mainly focus on case studies while H2 Econs mainly focus on essays (60% of total marks). That being said, both H1 and H2 Econs have case studies and the exam difficulties are the same. The skill sets required for both levels are equally rigorous.

While there is a difference in difficulty level, it does not mean that taking H1 is all that bad! This difference has led to a generation of some misconceptions about H1 Econs, which we have debunked over here!

(Latest Update!) H1 Subjects in 2026

MOE announced in 2023 that the weightage of H1 content subjects (including H1 Econs) will change in 2026.

Infographic: Anam Musta’ein

Under this new system that starts in 2026,

• H1 content subjects will still account for 10 points

• However, it will only be included if it improves the candidate’s score for university admissions

• For students who take four H2 subjects, their lowest-scoring subject is considered an H1 subject

With these changes, it means if you perform poorly in any of your H2 subjects, scoring well for your H1 subject, such as H1 Econs, will act as a safety net and help to boost your university admission score.

So what should you pick? 

In all honesty, I would still advocate H2 Econs. But why?

Interesting

• Topics covered in H2 and not in H1 will ultimately give you a more coherent picture of Economics in real life! For example, you get to understand Econs in the eyes of a consumer, firm, and government.

Meaningful

• Economics is a meaningful social science that can be used to explain many issues in the world. Almost every policy in Singapore is governed by Economics! Wouldn’t it be better if you could understand better how policies are formed in Singapore with H2 Econs (more content)?

• In fact, this is the only subject that is still applicable in your adulthood no matter what job you pursue i.e you can use Economics to explain your house mortgages, your rising bus fare etc.

So, have you made your choice? Will it be H1 or H2 Econs?

Want to Build Your Confidence In H1/H2 Economics? Enrol in Our A Level Economics Tuition Today!

Get Prepared!

We condition you to ace your A Levels through our weekly timed practices. There will also be a month-end lecture test to condition you properly for the year-end national exams.

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Frequently Asked Questions

What is A Level Economics About?

A Level Economics introduces students to economic reasoning and economic analysis. It is a demanding subject which requires individuals to think critically about topics such as economic growth, inflation, and unemployment, as well as local issues and recent economic trends.

Through these various topics, students gain insight into the economic decisions of the government and strategies for economic development. This subject helps develop important skills for those interested in business or finance, equipping them to take on more economic management roles in their future professional careers.

Is A Level Economics Hard?

Economics in JC has a steep learning curve as it is a subject not covered in secondary school, unlike math and science. The new requirement of drawing diagrams makes it a lot harder for students to know when and how to use a diagram in their explanation.

Although most students find economics concepts easy to understand, they also often find it hard to apply concepts in exam situations, resulting in their answers being unrefined or ‘not answering the question’.

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