Level 7 economics
Indicators
Indicators are examples of the behaviours and capabilities that a teacher might expect to observe in a student who is achieving at the appropriate level. Teachers may wish to add further examples of their own.
Context elaborations
Context elaborations are possible contexts for learning, with a suggestion of how they might be used with the focus achievement objective.
The listed context elaborations are examples only. Teachers can select and use entirely different contexts in response to local situation, community relevance, and students’ interests and needs.
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Achievement objective 7.1
Students will gain knowledge, skills, and experience to:
- understand how economic concepts and models provide a means of analysing contemporary New Zealand issues.
Indicators
Note: The links in the bullet points below connect to a definition of each term and a further unpacking of it into a list of concept indicators.
- Uses economic concepts and models to analyse contemporary economic issues by comparing and contrasting the differing causes of these issues and their differing impacts on New Zealand society. Contemporary economic issues include:
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Achievement objective 7.2
Students will gain knowledge, skills, and experience to:
- understand how government policies and contemporary issues interact.
Note: The links in the bullet points below connect to a definition of each term and a further unpacking of it into a list of concept indicators.
- Uses
economic indicators (statistics) to identify interrelationships between contemporary economic issues and uses this knowledge to make a justified forecast related to a contemporary economic issue, for example, whether the Governor of the Reserve Bank should raise the OCR.
- Analyses how
government intervention(s) to achieve specific economic objectives for one contemporary economic issue impact(s) on other contemporary economic issues, for example, how policies designed to improve the balance on goods and services affect inflation and employment.
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Context elaborations for achievement objectives 7.1 and 7.2
Choose a single rich context from contemporary economic issues as the focus for a year long programme; for example: How can New Zealand close the income gap with Australia?
Possible context – Where did it all go wrong?
- As an introduction to the year's work, students conduct a brief survey of New Zealand’s economic history, possibly focusing on the period 1970–1990.
- Students (working individually or in small groups) could research important people and events during the focus period, for example, Rogernomics, the Reserve Bank of New Zealand Act 1987, and so on, sharing their findings with the class.
- Class data show presentations could be linked up to form a timeline of economic events.
Possible contexts – What is economic growth? How can we close the gap?
- These contexts would focus on the causes of economic growth, and could include a case study focused on why international trade is so important for New Zealand, with the possible theme of “Punching above our weight in international markets”.
- Students could study the effects of economic growth, including investigating unemployment (“What is my best chance for getting a job in the future?”) or inequality (“Not everyone wins when market forces are applied”).
Possible context – advising government
- End the year with students taking the role of economic advisors to government.
- At the close of this context, each student submits a report including policy recommendations on how to close the gap between Australia and New Zealand.
- The student reports should also show how their policy suggestions would minimise negative impacts on other economic issues.
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Assessment for qualifications
At the time of publication the NCEA achievement standards were in development to align them with The New Zealand Curriculum. Please ensure that you are using the correct version of the standards by going to the
NZQA website.
Aligned level 1 achievement standards were registered for use in 2011 and level 2 for use in 2012; level 3 will be registered for use in 2013.
Achievement standards
The following achievement standards relate to level 7 achievement objectives.
Achievement objective 7.1 can be assessed using the following achievement standards:
- AS91222 Economics 2.1 Analyse inflation using economic concepts and models. External, 4 credits.
- AS91223 Economics 2.2 Analyse international trade using economic concepts and models. External, 4 credits.
- AS91224 Economics 2.3 Analyse economic growth using economic concepts and models. External, 4 credits.
- AS91225 Economics 2.4 Analyse unemployment using economic concepts and models. Internal, 4 credits.
- AS91226 Economics 2.5 Analyse statistical data relating to two contemporary economic issues. Internal, 4 credits.
- AS91228 Economics 2.7 Analyse a contemporary economic issue of special interest using economic concepts and models. Internal, 4 credits.
Achievement objective 7.2 can be assessed using the following achievement standards:
- AS91227 Economics 2.6 Analyse how government policies and contemporary economic issues interact. Internal, 6 credits.
- AS91228 Economics 2.7 Analyse a contemporary economic issue of special interest using economic concepts and models. Internal, 4 credits.
Last updated August 18, 2015
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