In 2016, governments in some countries were concerned about inflation, whilst the governments of other countries were concerned about recession.

Mark scheme

Marking points from the official mark scheme (May/June 2018). The mark or mark type is shown in brackets.

1. Explanation of the causes of both terms and a consideration of how their causes may differ.
2. L4 (9-12 marks) For a sound explanation of two causes of recession and two causes of inflation and reference to how they may differ.
3. L3 (7-8 marks) For a competent explanation of two causes of one term and one cause of the other.
4. L2 (5-6 marks) For an explanation of one cause of each term or two causes of one term.
5. L1 (1-4 marks) For an answer which has some basic correct facts but includes irrelevancies. Errors of theory or omissions of analysis will be substantial.
6. A discussion of the role of monetary policy in correcting a recession and of alternative approaches.
7. L4 (9-13 marks) For a thorough discussion of monetary policy and at least one alternative. Maximum of 11, if no conclusion.
8. L3 (7-8 marks) An analysis of monetary policy and awareness of another policy.
9. L2 (5-6 marks) For an accurate though undeveloped explanation concentrating on only monetary policy.
10. L1 (1-4 marks) For an answer which shows some knowledge but does not indicate that the question has been fully grasped. The answer will have some correct facts but include irrelevancies. Errors of theory or omissions of analysis will be substantial.