Mark Scheme

Level 1 – candidate identifies few issues. Doesn’t apply economic concepts well. Lacks analysis and evaluation. Fails to link issues. Limited understanding of phillips curve and inflation / unemployment. 0-6 marks

Level 2 – candidate recognises a few issues and has a limited application of economic concepts. Basic links between issues. Basic understanding of inflation and unemployment and some understanding of the relationships shown in the phillips curve . 7-12 marks

Level 3 – Identifies a few issues. Applies economic concepts and ideas to the question. Limited evaluation. Links issues and concepts. Understands difference between long run and short term phillips curve. 13-20 marks

Level 4 – Identify several issues. Inter relates issues economic issues. Talks in economic language and shows a good level of evaluation as to validity of the phillips curve.. 21-26 marks

Level 5 – Shows extensive use of economic vocabulary and thought. Arguments are well formed and information is synthesised. Excellent evaluation of the question with thorough and valid arguments -presented and analysed. 27-30 marks