Clarification details
Updated May 2015. This document has been updated to address new issues that have arisen from moderation.
The economic issues of inflation, international trade, economic growth and unemployment cannot be the focus of study for this standard. See the Conditions of Assessment for further information.
Quality and Quantity of student evidence
The quality and complexity of student evidence should reflect the appropriate level of the New Zealand Curriculum (NZC), i.e. evidence for NCEA Level 2 should reflect NZC level 7.
The depth of evidence required is indicated by the descriptors used in the standard, e.g. identify, define or describe concepts, explain, explain in detail, compare, contrast, integrate.
The quantity of evidence is indicated with singular or plural phrases.
The standard refers to ‘concepts and models’, indicating at least two of each are needed to explain and support the analysis of the contemporary economic issue. The standard provides information on the economic concepts and models in Explanatory Notes 4 and 5.
The phrase‘and/or’ is a quantitative indicator which is used in the standard to indicate, for example, that comparing or contrasting can be used in the analysis, therefore both may not be relevant in some cases, and one or the other would be sufficient.
Models as well as concepts are used to support explanations. Students need to make direct reference to each presented model by explaining each illustrated change, using the language of the model in the analysis to meet the requirements of the Achievement Criteria.
Collecting and using economic data/graphs is not required by the standard. However, students could use relevant economic information or data to support the analysis.
Analysing for Achievement involves students defining or describing economic concepts related to a current economic issue of special interest, which involves the allocation of scarce resources.
Using economic models, students explain the causes of (reasons for) the contemporary economic issue. Students also explain how or why the contemporary economic issue affects various groups in NZ society.
Analysing in depth for Merit involves students explaining the causes of (reasons for) the contemporary economic issue in detail (how and why) using economic concepts and models.
Students also need to explain in detail how and why the contemporary economic issue affects various groups in NZ society.
Analysing comprehensively for Excellence involves students comparing and/or contrasting the impacts on the economic issue arising from at least two different causes, integrating (fully linking) changes shown on economic models into the detailed explanation.
Additionally, the students compare and/or contrast the similar or different impacts experienced by various groups. These could be unequal, in a greater than or less than sense, as some groups may be affected more than other groups by changes in the contemporary economic issue.