The Cambridge IGCSE Business syllabus, code 0264, covers exams in 2027, 2028 and 2029. It replaces Business Studies 0450, which is examined for the last time in November 2026. It has six topics, 29 sub-topics and two written papers. There is no coursework. This page sets out what is in it, how it is examined and what has changed from 0450, so you can plan the course without working through the full PDF first. The official syllabus on the Cambridge International website is always the final authority.
Every sub-topic below links to a ready-made lesson for it. The full list, unit by unit, is on the Cambridge IGCSE Business 0264 lessons page.
Which years this syllabus covers
One syllabus document covers all three exam years: 2027, 2028 and 2029. Exams run in the June and November series, with a March series in India. The current document is version 2, published in March 2025. The only change from version 1 is that the formulas for total cost and margin of safety were updated. Cambridge states that textbooks endorsed for exams from 2027 are suitable.
Cambridge IGCSE (9-1) Business 0774 covers the same content and is graded 9 to 1 instead of A* to G. A candidate cannot take 0264 in the same exam series as 0774 or Cambridge O Level Business 7081.
The six topics
That is 29 sub-topics. Our 28 lessons follow them one for one, except that 6.3 and 6.4 are taught together in one lesson on environmental and ethical issues. Lesson 1.1 is also available as a free sample.
The two papers
| Paper | Length | Marks | Weighting | Format |
|---|---|---|---|---|
| 1 Short Answer and Data Response | 1 h 30 min | 80 | 50% | Four compulsory questions mixing short answers and structured data responses. Each question uses stimulus material, which may include tables, graphs and images. |
| 2 Case Study | 1 h 30 min | 80 | 50% | Four compulsory questions on one case study, given as an insert with appendices of data such as tables, graphs, newspaper extracts and advertisements. |
All candidates take both papers. Both are based on all the subject content, and both test all four assessment objectives. Grades run A* to G.
Assessment objectives and weightings
There are four objectives: AO1 knowledge and understanding, AO2 application, AO3 analysis and AO4 evaluation. The approximate weightings, in per cent, are:
| Assessment objective | Whole IGCSE | Paper 1 | Paper 2 |
|---|---|---|---|
| AO1 Knowledge and understanding | 35 | 40 | 30 |
| AO2 Application | 30 | 30 | 30 |
| AO3 Analysis | 22 | 20 | 25 |
| AO4 Evaluation | 13 | 10 | 15 |
Knowledge and application carry 65 per cent of the qualification. Evaluation carries only 13 per cent overall, but it rises from 10 per cent on Paper 1 to 15 per cent on Paper 2. AO4 asks students to make justified decisions and recommendations, and the syllabus asks for exactly that in many sub-topics: recommend and justify a type of business organisation, a leadership style, a pricing method, a source of finance or a location for a given situation. Those decisions are worth practising from the first term, not left for revision.
The same comparison for 9609, and what the weightings mean for teaching, is in Assessment objectives in Cambridge Business 9609 and 0264.
Command words
The syllabus lists eight: calculate, consider, define, explain, identify, justify, outline and state. The command word tells students how much to write and which skill the marks are for, so it is worth teaching them by name.
What students calculate, and what they do not
The syllabus includes a list of formulas and ratios: market share, labour productivity, variable, total and average cost, contribution per unit, break-even output, margin of safety, revenue, gross profit, profit, working capital, profit margin, gross profit margin, return on capital employed, the current ratio and the acid test ratio.
Students complete or amend a simple cash flow forecast and break-even chart, and make simple calculations from a statement of profit or loss and a statement of financial position. They are not assessed on constructing a cash flow forecast, a statement of profit or loss or a statement of financial position, and they are not assessed on exchange rate calculations.
Teaching time
Cambridge designs IGCSE syllabuses around about 130 guided learning hours. No previous study of business is expected. For a week-by-week plan, see the 0264 scheme of work and pacing guide.
What changed from 0450
Cambridge lists these changes in the syllabus:
- Two new sub-topics in operations management: 4.2 Technology and production of goods and services and 4.3 Sustainable production of goods and services.
- Digital methods of communication added to topic 2, People in business.
- Content reorganised, with some topics reduced and some content removed, terminology updated, a short introduction for each topic, and the list of formulas and ratios added.
- AO2 application now carries more weight, and AO1, AO3 and AO4 carry less. Cambridge says the objectives test the same knowledge and skills as before.
- Paper 1 questions now have four parts instead of five, with a different mark breakdown.
- On Paper 2, every part (a) question is now applied, and the mark scheme wording has changed, although the marking criteria are largely the same.
Specimen papers, past papers and examiner reports
Cambridge publishes specimen papers, mark schemes, specimen paper answers, example candidate responses, past papers and principal examiner reports on the School Support Hub. Your exams officer can give you a login. Because 0264 is first examined in 2027, the specimen papers are the only 0264 papers so far. 0450 past papers still cover much of the content, but not 4.2 or 4.3, and Paper 1 questions in them have five parts rather than four.
Lessons for every sub-topic
Each lesson is an editable PowerPoint built to the 0264 wording, with a video case study and discussion questions, learning checks, an exit ticket and a teacher answer key with model answers. Buy one lesson to try, a unit at a time, or the whole course.
- Unit 1, five lessons
- Unit 2, four lessons
- Unit 3, four lessons
- Unit 4, six lessons
- Unit 5, five lessons
- Unit 6, four lessons
- 0264 Complete Bundle, all 28 lessons
Every lesson is also listed on its own, with a preview, on the 0264 lessons page.