9640 · Oxford AQA International A Level
9640/21
Paper 2
Economics · 2024 · Variant 1
Relative difficulty
Analysis source: Oxford AQA
Analysis aligned to the official syllabus and assessment design.
3.5 / 5
340
450 min
Exchange Rates & Monopoly Behavior
Cohort performance
Session statistics from official examination reports
Total marks
340
Duration
450 min
Session difficulty
3.5 / 5
Key examiner messages
Top priorities from the principal examiner before you revise
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units.
With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quantitative analysis.
While Section A multiple-choice questions offered a steady stream of accessible marks, the long-form essays in Section D tested candidates' depth of understanding, contextual application, and ability to build coherent economic arguments.
Question difficulty map
How candidates performed on each question in this series
No data available in official reports
Assessment objectives
Skill and AO weighting from official examiner commentary
Skill weighting
Shows the skill mix this paper tested most heavily.
Knowledge & Understanding
Weight: 5100%Application (AO2)
Weight: 360%Analysis (AO3)
Weight: 240%Evaluation (AO4)
Weight: 120%
Method marks watchlist
Where working, steps, or method marks were commonly lost
No data available in official reports
Recurring mistakes across years
Themes examiners flag in multiple recent sessions for this subject
No data available in official reports
Question choice intelligence
Mean scores and popularity for optional questions (HKDSE electives)
No data available in official reports
Level exemplars
What candidate scripts at each grade level looked like
No data available in official reports
Grade & admission context
How marks relate to grade thresholds and entry standards
Report type
Examiner report — national grade boundaries and question-level commentary
Level A*
Approx. 90% of maximum mark
Level A
Approx. 80% of maximum mark
Level B
Approx. 70% of maximum mark
Level C
Approx. 60% of maximum mark
Level D
Approx. 50% of maximum mark
Level E
Approx. 40% of maximum mark
Deep insights
What top candidates did
Techniques and approaches examiners rewarded in this series
No data available in official reports
Command word playbook
How to match each command word to the expected response style
Show formula, substitution, and unit; method marks need visible working.
Give reasons and link mechanism to outcome; each point needs a because/so chain.
Break into parts and explain how each contributes to the whole question focus.
Match the expected response style for “Assess” questions.
Present multiple perspectives with evidence; balance breadth and depth.
Match the expected response style for “Define” questions.
Time traps
Sections where candidates spent disproportionate time relative to marks
Min per mark: 1.4
Min per mark: 1.4
Min per mark: 1.3
Min per mark: 1.2
Syllabus traceability
Topics linked to questions and mark weighting in this session
Exchange rates (The balance of payments, exchange rates and financial markets)
34 marks this session
Monopoly and monopoly power (Perfect competition, imperfectly competitive markets and monopoly)
27 marks this session
Financial markets (The balance of payments, exchange rates and financial markets)
27 marks this session
The objectives of firms (The objectives of individuals and firms)
25 marks this session
The distribution of income and wealth within an economy (Poverty and inequality)
22 marks this session
MCQ trap analytics
Commonly chosen wrong options from examiner commentary
No data available in official reports
Topic heatmap across years
Mark concentration by topic and exam year for this subject
Mark intensity
The distribution of income and wealth within an economy (Poverty and inequality)
Trade (Globalisation and trade)
The balance of payments
Exchange rates (The balance of payments, exchange rates and financial markets)
Private goods, public goods and quasi-public goods
Merit and demerit goods
Monetary policy
Monopoly and monopoly power (Perfect competition, imperfectly competitive markets and monopoly)
Paper comparison
Marks and duration breakdown across papers in this session
EC01 - The Operation of Markets, Market Failure and the Role of Government: EC02 - The National Economy in a Global Environment: EC03 - The Economics of Business Behaviour and the Distribution of Income: EC04 - Economic Development and the Global Economy:
Marks you can still earn
Where valid approaches outside the mark scheme may still gain credit
No data available in official reports
Practise what examiners flagged
Target weak topics from this report inside the Revui app
Exchange rates (The balance of payments, exchange rates and financial markets)
34 marks this session
Practise in RevuiMonopoly and monopoly power (Perfect competition, imperfectly competitive markets and monopoly)
27 marks this session
Practise in RevuiFinancial markets (The balance of payments, exchange rates and financial markets)
27 marks this session
Practise in RevuiThe objectives of firms (The objectives of individuals and firms)
25 marks this session
Practise in RevuiThe distribution of income and wealth within an economy (Poverty and inequality)
22 marks this session
Practise in RevuiSelf-diagnostic checklist
Key actions before you sit this paper — copy and tick off as you revise
- 1Message
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units.
- 2Message
With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quantitative analysis.
- 3Message
While Section A multiple-choice questions offered a steady stream of accessible marks, the long-form essays in Section D tested candidates' depth of understanding, contextual application, and ability to build coherent economic arguments.
Teacher briefing pack
One-page session summary for tutors and classroom review
2024 2024
Economics
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units. With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quanti
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units.
With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quantitative analysis.
While Section A multiple-choice questions offered a steady stream of accessible marks, the long-form essays in Section D tested candidates' depth of understanding, contextual application, and ability to build coherent economic arguments.
- Total marks
- 340
- Duration
- 450 min
- Session difficulty
- 3.5 / 5
Session analysis
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units. With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quantitative analysis. While Section A multiple-choice questions offered a steady stream of accessible marks, the long-form essays in Section D tested candidates' depth of understanding, contextual application, and ability to build coherent economic arguments.
Updated Jun 12, 2026
Paper breakdown
EC01 - The Operation of Markets, Market Failure and the Role of Government: EC02 - The National Economy in a Global Environment: EC03 - The Economics of Business Behaviour and the Distribution of Income: EC04 - Economic Development and the Global Economy:
Top chapters
Exam structure insights
Marks by chapter
See where the marks were concentrated so revision time goes to the highest-value topics.
Mark accessibility
Estimate which marks were basic, mid-level, or high-difficulty.
68% within easy or medium reach
Command word frequency
Spot common command words so answers match the expected response style.
Question type mix
Compare the mark share of each paper section and question type.
Long-Response Essays & Evaluations
140·6·41%
Medium-Response Analysis
106·14·31%
Multiple Choice Questions
50·50·15%
Calculations and Definitions
44·15·13%
Study ROI
Bigger bubbles recur more often; higher bubbles carry more marks, helping you rank revision priorities.
Difficulty trend
Compare difficulty across recent years.
Time vs marks
Compare marks with suggested time allocation to plan exam pacing.
Section A (Multiple
0.83 m/minSection B (Definiti
0.73 m/minSection C (Data res
0.76 m/minSection D (Long-Res
0.74 m/minTotal marks
340
Total time
450 min
Avg pace
0.76
Next-year prediction
Topics worth watching next year, with the reason shown directly below each bar.
Market Failure and Public Goods
95%95%
The Balance of Payments and the J-Curve
90%90%
Labour Market and Collective Bargaining
85%85%
Paper analysis
The January 2024 Oxford AQA International AS/A-Level Economics series presented a comprehensive, highly structured assessment across all four units. With a difficulty index of 3.5 stars, the papers maintained a standard of rigorous conceptual testing combined with detailed quantitative analysis. While Section A multiple-choice questions offered a steady stream of accessible marks, the long-form essays in Section D tested candidates' depth of understanding, contextual application, and ability to build coherent economic arguments.
Examiner notes & key calculations
- Quantitative Precision: In calculations such as the Terms of Trade change (Unit 4) or Price Elasticity of Demand (Unit 1), many candidates lost simple marks due to incorrect rounding or omitting the negative sign for PED. Always specify calculations to the requested decimal places (e.g., two decimal places for PED).
- Diagrammatic Inaccuracies: In negative supply-side shock diagrams (Unit 2), students frequently failed to show the contraction of aggregate demand following the leftward shift of the SRAS curve, leading to incomplete analysis.
- Vague Evaluation: On 25-mark questions, examiners noted that weaker responses relied on generic lists of points. High-scoring candidates used real-world country examples (such as Brazil and El Salvador Gini comparisons) to substantiate their arguments.
Analysis is paraphrased for study purposes. Always verify against the official examiner report and mark scheme.