Examiner's Verdict on the June 2025 Series
The June 2025 Oxford AQA International AS Economics papers (EC01 and EC02) offered a highly balanced yet rigorous test of fundamental economic concepts. Across both papers, there was a clear premium on logical chains of reasoning (AO3) and the ability to formulate balanced evaluations (AO4). While the multiple-choice questions in Section A and the definitions/calculations in Section B offered highly accessible baseline marks, the high-tariff 12-mark analysis and 20-mark evaluation essays required a sophisticated structure to reach the top level.
Where the Marks Are Won or Lost
In Unit 1 (EC01), the heavy hitters were public and quasi-public goods, which commanded a massive 32 marks. High-scoring candidates clearly distinguished between the defining characteristics of pure public goods—namely, non-rivalry and non-excludability—and explained how real-world technological changes or congestion turn these into quasi-public goods. In Unit 2 (EC02), economic growth and investment took center stage. Candidates who could clearly illustrate short-run versus long-run growth using either an AD/AS or PPB diagram secured excellent marks in the 9-mark diagram question. Conversely, marks were frequently lost in calculations due to a failure to round to the specified decimal places or omission of units such as billions or currency symbols.
Common Pitfalls to Avoid
- Incorrect Diagram Setup: For the minimum price question (Unit 1, Q19), a common mistake was drawing the minimum price below the equilibrium price, or failing to highlight the exact area of government expenditure when buying up the excess supply \( (Q_1 \text{ to } Q_2) \).
- Confusing Core Terms: Many candidates struggled to define 'national debt' accurately, confusing the cumulative stock of debt with the annual budget deficit (a flow concept).
- Under-developed Evaluation: In the 20-mark essay, simply listing advantages and disadvantages of state provision without a structured final judgment resulted in candidates being capped in Level 3.
Strategic Study Tips
To master future assessments, focus on practicing calculations under timed conditions. Ensure you show all steps of your working, as examiners award partial credit for correct methodology even if a mathematical slip occurs at the end. Additionally, develop a strong bank of real-world examples (such as flood defences in India, Bangladesh, or Malaysia as highlighted in the extracts) to elevate your application marks.
Future Series Predictions
Given the heavy emphasis on pure public goods and fiscal indicators in this series, future papers are highly overdue for deep-dives into monopoly power, oligopoly market structures, and price discrimination in Unit 1. For Unit 2, expect a stronger focus on the transmission mechanisms of monetary policy and the macroeconomic impacts of exchange rate fluctuations, which were relatively under-tested in this sitting.