OCR A Level Economics Paper 2 Mark Scheme

Download the official OCR A Level Economics H460/02 Macroeconomics mark scheme for the June 2025 examination series. This examiner-authentic OCR PDF contains complete marking guidance, level descriptors, examiner commentary, indicative content, diagram guidance and official OCR assessment criteria for the Macroeconomics paper.

The mark scheme provides detailed examiner guidance for inflation, unemployment, exchange rates, taxation, development economics, international trade, macroeconomic policy and evaluative essay writing. Students can study exactly how OCR awards marks for data-response analysis, economic diagrams, chains of reasoning, supported judgement and extended-response macroeconomics essays.

Section A guidance focuses heavily on Bolivia’s economy, including export tariffs, lithium extraction, current-account balances, fixed exchange rates, inflation control, foreign-exchange reserves, budget deficits, national debt and progressive taxation. OCR explains how candidates should analyse relationships between inflation and current-account balances, calculate import-price indices and evaluate the effectiveness of Bolivia’s fixed exchange-rate system.

The mark scheme includes extensive discussion of macroeconomic policy conflicts, particularly the relationship between low inflation and full employment. OCR provides examiner guidance for analysing contractionary monetary policy, interest-rate increases, aggregate demand and aggregate supply, Phillips Curve theory, cost-push inflation and long-run macroeconomic equilibrium.

Development-economics sections focus on income inequality, Human Development Index (HDI) analysis and the economic impact of uneven income distribution. OCR explains how governments may use redistribution, healthcare, education spending and welfare programmes to improve development indicators while evaluating the limitations of HDI as a measure of living standards.

International-trade sections include detailed guidance for evaluating trade restrictions on BRICS countries, including tariffs, quotas, WTO rules, trade diversion, protectionism, retaliation risks and global competitiveness. OCR demonstrates how candidates should construct balanced evaluative arguments using tariff diagrams, AD/AS analysis and international-trade theory.

The document also contains complete Level 1 to Level 5 descriptors for AO1 knowledge, AO2 application, AO3 analysis and AO4 evaluation. OCR outlines official marking principles including contradictory responses, own-figure rule procedures, annotation systems, benefit-of-doubt guidance and extended-response assessment methods used during live marking.

Suggested diagrams throughout the mark scheme include AD/AS analysis, Phillips Curve models, Lorenz Curves, tariff diagrams, Keynesian AS diagrams and redistribution models. OCR rewards well-integrated diagrams, clear chains of reasoning and supported evaluative judgement across all extended-response economics answers.

This OCR H460/02 June 2025 mark scheme is essential for self-marking, essay planning, macroeconomic revision and understanding examiner expectations for high-band OCR Economics responses. Perfect for students preparing for the 2026 OCR examination series, teachers designing mock assessments and tutors supporting OCR Economics revision. Pair it with the matching OCR H460/02 June 2025 question paper for complete examiner-guided preparation and OCR-standard assessment practice. Fully compatible with desktop, tablet and mobile PDF viewing.

This document is designed for OCR A Level Economics students preparing for the 2026 examination series, especially candidates studying macroeconomics, exchange rates, inflation, unemployment, development economics and international trade. It is particularly useful for learners aiming to improve evaluative essay writing, diagram integration, chains of reasoning and understanding of OCR examiner expectations.

It is also highly valuable for teachers, tutors, revision-course providers and independent learners who require official OCR marking guidance, level descriptors and assessment criteria for classroom teaching, mock examinations, essay feedback and targeted OCR Economics revision.