AQA A Level Economics Paper 2 2025 Mark Scheme Pdf

Download the official AQA A-Level Economics Paper 2 mark scheme for the June 2025 exam (7136/2). This **final version (v1.0)** contains full answers, examiner guidance, and detailed level-based marking criteria used during standardisation.

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## **Section A: Context 1 – Exchange Rates (Norwegian Krone)**

- **Q01 (page 5): Calculation**
- NOK fell from **0.161 → 0.122**
- Percentage change = **–24.2% (depreciation)**

- **Q02 (page 6): Data explanation**
- Singapore outperforms:
- GDP growth: **2.7% (highest)**
- Inflation: **3.3% (lowest)**
- Current account: **17.6% of GDP (highest)**
- Indicates benefits of **managed exchange rate policy**

- **Q03 (pages 7–8): Diagram explanation (9 marks)**
- Appreciation → cheaper imports → **lower cost-push inflation**
- Appreciation → reduced exports & AD → **lower demand-pull inflation**
- Expected diagrams:
- **SRAS shifts right** OR
- **AD shifts left**

- **Q04 (page 9): 25-mark essay**
- Managed exchange rate advantages:
- Stability, reduced volatility
- Encourages FDI
- Helps achieve macro objectives
- Disadvantages:
- Loss of monetary policy independence
- Requires large foreign reserves
- Risk of government failure
- Evaluation compares with **free-floating systems**

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## **Section A: Context 2 – BRICS+ Growth**

- **Q05 (page 10): Calculation**
- Japan GDP growth ≈ **86.0%**
- USA GDP growth ≈ **161.9%**
- Difference = **75.9 percentage points**

- **Q06 (page 11): Data explanation**
- Ethiopia develops faster than Japan:
- GDP growth: **+900% vs +86%**
- Life expectancy: **+30.9% vs +3.9%**
- Education: **+110.6% vs +3.3%**

- **Q07 (pages 12–13): Diagram explanation (9 marks)**
- Increased FDI →
- Higher **AD and LRAS**
- More firms and output
- Higher **demand for labour** → lower unemployment
- Diagrams include AD/AS or labour market shifts

- **Q08 (page 14): 25-mark essay**
- Benefits of BRICS+ growth for G7:
- Export opportunities
- Cheaper imports & outsourcing
- Investment opportunities
- Drawbacks:
- Job losses
- Increased competition
- Environmental costs
- Evaluation considers **globalisation vs protectionism**

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## **Section B: Essays**

### **15-Mark Questions (Analysis)**

- **Q09 (page 16): National debt**
- Causes:
- Higher government spending
- Lower tax revenue (recession)
- Economic shocks
- Rising debt interest costs

- **Q11 (page 18): Supply-side policies**
- Increase productivity & efficiency
- Shift LRAS right → reduce inflationary pressure
- Includes education, infrastructure, tax reforms

- **Q13 (page 20): Limitations of GDP**
- Ignores inequality, environment, quality of life
- Excludes informal economy
- Requires PPP adjustments

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### **25-Mark Essays (Evaluation Focus)**

- **Q10 (page 17): Direct vs indirect taxes**
- Direct taxes:
- More equitable but may reduce incentives
- Indirect taxes:
- Useful for behaviour change but regressive
- Evaluation depends on **economic context**

- **Q12 (page 19): Low inflation**
- Benefits:
- Stability, competitiveness, planning certainty
- Drawbacks:
- Risk of deflation
- Weak demand
- Evaluation depends on **causes of low inflation**

- **Q14 (page 21): Development strategies**
- Interventionist:
- Infrastructure, education, industrial policy
- Free-market:
- Trade liberalisation, deregulation
- Evaluation considers **country-specific factors**

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## **Examiner Guidance (pages 3–4 & 15)**

- Uses **level-of-response marking (Levels 1–5)** for essays
- Top-band (21–25 marks) requires:
- Strong, logical analysis
- Contextual application
- **Well-supported evaluation + clear judgement**

For example, the **grid on page 4** shows Level 5 answers must include *“well-focused analysis and supported evaluation throughout with a clear conclusion.”*

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## **Why This Mark Scheme Matters**
- Shows **exact answers + accepted methods**
- Reveals how examiners award marks
- Improves **essay structure and evaluation skills**
- Essential for achieving **A/A*** in A-Level Economics

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Fully updated for the 2025/2026 academic year and optimised for instant download on markscheme.net.

This mark scheme is designed for Year 13 students preparing for AQA A-Level Economics exams, particularly Paper 2 (macroeconomics and the global economy).

Teachers and tutors use this resource for accurate marking, feedback, and modelling high-level answers. It is also ideal for independent learners aiming to maximise marks and understand examiner expectations.