EconIQ

Every feature, built around your marking scheme

One workspace that marksthe way your academy does.

Upload schemes, practise real questions, get answers marked point by point, and watch weak topics surface — for students and teachers, all in one connected app.

What's Inside

Every feature your academy actually uses.

Student workflow and teacher workflow in one account. Each feature below is a real part of the app.

Core AI1 / 9

Marking Scheme AI

Your academy's marking scheme becomes the engine. Upload it once and the AI understands every section, AO and mark point.

  • Paste markdown or upload scheme images (PNG, JPG, WEBP)
  • Auto-split into A01, A02 & A03
  • Scheme preserved verbatim, word for word
  • Question bank built straight from it
econ-iq.academy — marking scheme AI

Marking Scheme Studio

Write or paste your scheme, then watch the AI read it out.

Marking Scheme Images

Upload one or more images - AI will extract the marking scheme from each sequentially.

scheme-page-1.png Ready
scheme-page-2.png Ready

Marking Scheme

Write or paste the marking scheme in markdown, or use the image upload above for AI extraction.

Markdown supportedAI Fix
## AO1 Knowledge and understanding
- Subsidy: a government grant that lowers the price of a good or service
- A subsidy shifts the supply curve right, raising quantity and lowering price
- Consumers and producers both gain, but the budget must fund it

## AO2 Analysis
- Annotate a correct diagram: supply shifts down by the amount of the subsidy
- Price falls by less than the subsidy if demand is inelastic
- Gains split between consumers and producers depend on elasticities

## AO3 Evaluation
- Consider the size of the external benefit to justify the cost
- Note opportunity cost of public funds and the risk of deadweight loss
- Compare subsidies against direct provision or regulation
Student Practice2 / 9

Practice Sessions

Real Cambridge questions on a countdown, answered in a structured markdown editor with the A01/A02/A03 template — timed like the real paper. Photograph a handwritten answer and OCR drops it straight into your answer sheet to be marked just like typed work.

  • Countdown timer with the paper's time
  • Markdown editor with A01/A02/A03 headings
  • Hints when a student is stuck
  • Up to six handwritten images per attempt
  • Per-image OCR transcription status
  • Transcribed text fills the AO sections
  • Images stay attached for context
econ-iq.academy — practice session
15:00
Hints
  • Hint 1: Weigh efficiency against equity — then reach one final judgement.
  • Hint 2: Consider who actually benefits: producers, consumers, or both.

Evaluate the economic case for and against government subsidies on essential food items in a developing economy. [20]

or
Your Brainstorm128 words
## AO1 KNOWLEDGE AND UNDERSTANDING
- Subsidy: a government grant that lowers the price of merit goods
- Price and output effects in competitive markets
- The distinction between subsidies, taxes and direct provision

## AO2 ANALYSIS
- Subsidy shifts supply right, price falls and quantity rises
- Incidence depends on price elasticities of demand and supply
- Producers gain, consumers gain, budget must finance it

## AO3 EVALUATION
- Size of the externality and the risk of deadweight loss
- Opportunity cost of public money and time lags
- Effectiveness versus targeted transfers and regulation
Markdown supported128/9000 chars
AI Feedback3 / 9

AI Marking & Grading

Submit and get a score with a per-AO breakdown and an examiner replay of every awarded and missed point.

  • Mascot score card with per-AO marks
  • Examiner replay of every earned point
  • A01, A02 & A03 scored separately
  • Missed points quoted back with the fix
econ-iq.academy — marking result
AI MARKING & GRADINGMarket Failure & Gov Intervention
examined point by point
Developing10/20 · 50%

Q: Evaluate the view that government subsidies are the most effective policy for correcting the market failure caused by positive externalities from education. [20]

Overall Score10/20
A014/6A023/8A033/6
A01Assessment objective

Knowledge & Understanding

What you know and how accurately you explain it.

4/6

marks

quotednote ref

A positive externality occurs when the production or consumption of a good or service benefits a third party who is not involved in the market transaction. Education is a merit good with positive externalities: a more educated workforce raises productivity and growth, lowers crime and reduces welfare spending, so the social benefit exceeds the private benefit. Consumers only compare private costs and benefits, so the free market under-produces education. A subsidy is a government payment to producers that lowers their costs, shifting the supply curve rightwards, increasing output and lowering price towards the socially optimal level.

Definition of the market failure2/2

“benefits a third party who is not involved in the market tra…

Merit good + external benefits2/2

“social benefit exceeds the private benefit…

Concrete example of the external benefit0/2

MISSING — add this.

Mark breakdown— criterion by criterion
Definition of the market failure2/2

Accurate externality definition with the third-party effect named and the under-production conclusion drawn.

Merit good + external benefits2/2

Education correctly identified as a merit good; the social-beyond-private-benefit step is the exact checkpoint.

Concrete example of the external benefit0/2

Productivity, crime and welfare savings are listed but never shaped into a single worked example the scheme can reward.

Examiner's notes

Accurate definition of the positive externality and the merit-good case. The phrase "social benefit exceeds the private benefit" is exactly the checkpoint the scheme looks for. The external effects are listed but not anchored to a concrete example, which costs the last knowledge mark.

1 / 7
AO1 · Knowledge & Understanding
Every AO marked against your scheme — replay, chains and the official mark scheme in one board.
AI Feedback4 / 9

Revision Notebook

A bound notebook per topic, built from the marks you keep losing. Every page is one exact point to fix — hand-selected by the AI from your real attempts.

  • One notebook per topic, built from your lost marks
  • Sticker index of open tasks, straight off the cover
  • Rewrite the exact point, then the AI checks your try
  • Recurring tasks are flagged and re-tested
  • Diagram tasks with photo upload and an AI tutor

Market Failure & Gov Intervention

Externalities, taxes and subsidies

REVISION NOTEBOOK
INDEX
To do (7)not yet resolved1 / 2

(Tip: sketch answers on paper — there's space to upload a diagram on the pages that ask for one.)

Student Home5 / 9

Learning Roadmap

A gamified unit-by-unit roadmap showing locked, current and completed topics, with live stats on top.

  • Zigzag topic path with locked/current/done
  • Unit header with your average score
  • Celebration star on newly completed topics
  • Reward gift once the whole unit is done
econ-iq.academy — student dashboard

Microeconomic Foundations

Introductory microeconomic concepts and market analysis

76%

Overall average

Utility Theory
Oligopoly
Monopoly
Perfect competition
Objectives of firms
Market Failure & Gov Intervention
Progress6 / 9

Analytics & AI Reports

Trend lines, an AO radar and topic strength charts — plus an AI-written report of what's improving and what needs work.

  • 30-day score trend and accuracy stats
  • Performance radar by AO
  • Strengths & weaknesses per topic
  • AI report with improving/declining cards
econ-iq.academy — analytics

Analytics

Track your strengths and areas for improvement

67%

Overall Accuracy

45

Questions Answered

77%

Best: Inflation · Steady

44%

Needs work: Oligopoly · Slipping

71/ 100

Exam Readiness

Nearly there

15 of 19 curriculum topics attempted.

Accuracy67%
Coverage79%
AO Balance69%
4 topics to explore

Performance by Skill

Average across each assessment objective

AO1 · Knowledge81%
AO2 · Analysis63%
AO3 · Evaluation63%

Score Trend

Last 30 days

Avg 60%

Strengths & Weaknesses by Topic

Average score across every topic you've practised

Excellent5Good6Average4
ExcellentMonopoly(monopolistic competion + natural monopoly)
87%3 tries
ExcellentGlobalisation
83%2 tries
ExcellentPolicies to correct disequillibrium in BOP and Current account
100%2 tries
ExcellentObjectives of firms
100%1 try
GoodInflation
77%3 tries
GoodFiscal Policy
75%2 tries
GoodExchange rates
71%4 tries
GoodMonetary Policy
70%4 tries
GoodUtility Theory(ordinal + cardinal)
69%7 tries
GoodMarket Failure & Gov Intervention
60%11 tries
AverageEconomic growth
59%5 tries
AverageEconomic Development
58%9 tries
AverageThe circular flow of income
50%1 try
AverageOligopoly
44%4 tries
ExcellentEmployment(unemployment too)
100%1 try
Teacher Tools7 / 9

Question Bank & Scheme Studio

Teachers manage the whole question bank and author marking schemes in markdown, with an AI fix for grading standards.

  • Filterable, paginated question bank
  • Topic, year, season and marks badges
  • Markdown scheme editor with live preview
  • One-click AI Fix for grading standards
econ-iq.academy — question bank

Question Bank

Manage and organize your economics questions.

Filters Create New Question
Search questions...
Market Failure & Gov Intervention
May June2024Paper 41Q2

Discuss whether subsidies are the most effective policy to improve allocative efficiency in food markets where governments intervene heavily.

20 Marks
Oligopoly
Oct Nov2023Paper 42Q3

Explain, with the aid of a diagram, how a change in ownership might improve the productive efficiency of a firm.

12 Marks
Monopoly
May June2025Paper 43Q4Challenge

Evaluate the view that a monopoly is always against the public interest.

25 Marks
Showing 1 to 3 of 28
1 / 10
Teacher Tools8 / 9

Curriculum & Topic Access

Organise the syllabus into a visual roadmap and decide which topics students can unlock next.

  • Unit-by-unit topic roadmap
  • Add, edit and reorder topics
  • Lock and unlock topics per unit
  • Drill into a topic's questions
econ-iq.academy — curriculum

Curriculum

Microeconomic Foundations

Introductory microeconomic concepts and market analysis

Utility Theory
Oligopoly
Monopoly
Perfect competition
Objectives of firms
Market Failure & Gov Intervention
Admin9 / 9

Members & Batches

Manage your full roster — students, teachers and admins — with auto-generated credentials, retry controls and exam batches.

  • Searchable, filterable member table
  • Auto-generated credentials, one-click copy
  • Per-student retry-limit control
  • Batch students by exam series and year
econ-iq.academy — members

Student Directory

Manage your classroom and track individual progress.

All Batches
All Scores
Apply Filters

Overrides retry limit for all students in this academy.

5
BatchStudent NameEmailAttemptsAvg ScoreRetryLevelStatus
May/June 2027 MocksOBOlivia Bennettolivia.b@demo.academy1482%5ASActive
May/June 2027 MocksLCLiam Carterliam.c@demo.academy991%3A2Active
Oct/Nov 2025 SessionZAZara Ahmedzara.a@demo.academy661%5BothActive
Oct/Nov 2025 SessionNBNoah Bakernoah.b@demo.academy458%3A2Disabled
FAQ

Questions academies ask.

What can I use for free?

Register your academy and upload one marking scheme for free. You can add questions and let your first students practise and get marked before deciding to upgrade.

Which exam levels are supported?

EconIQ is built for Cambridge A2 Level Economics. Question banks, marking and analytics all follow your academy's A2 scheme.

Can it mark handwritten answers?

Yes. Students can type an answer or upload a photo of handwritten work — the OCR reads it and it gets marked against the same scheme.

How is it different from asking ChatGPT to mark?

EconIQ marks against your exact marking scheme, point by point. It knows your curriculum and tracks every missed mark into a weak topic — ChatGPT does none of that.

Get Started Today

Upload one scheme. From that day on, every answer gets marked.

Register your academy today. In minutes your students can be getting real feedback against your marking scheme.