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TKI Economics Assessment Resources

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For Excellence, the student needs to demonstrate a comprehensive understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• providing a detailed explanation of how the economic decision is affected by limited means and/or scarce resources
• identifying options and compromises by collecting information from groups with differing viewpoints
• ranking options by weighting different costs and benefits
• justifying a recommendation by providing detailed explanations of the weightings given to different costs and benefits.

The student has demonstrated comprehensive understanding by identifying scarce resources, explaining how limited money and the goals of the Board of Trustees (BOT) may affect an economic decision about an unrestricted donation from licensing trusts, and why this economic decision would create an opportunity cost (1).

The student collected information, gathering different viewpoints from interviews. Options and compromises were identified (2), the main factors used as weightings applied to identified costs and benefits were explained (3).

The benefits were explained in terms of the identified main factors. Costs of the options have also been identified and described (4).

The ranking and recommendation is consistent with the quantitative scale used and explained in (3) as to how the weightings were developed. The recommendation explainswhy these weightings were used, and the influence of the compromises was explained (5).

For a more secure Excellence, the student would explain the costs in more depth, understanding that some costs may be more significant than (outweigh) any short term benefit. One example of this has been provided (5).

For Merit, the student needs to demonstrate an in-depth understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• providing a detailed explanation of how the economic decision is affected by limited means and/or scarce resources
• identifying options and compromises by collecting information from groups with differing viewpoints
• ranking options on the basis of the costs and benefits
• justifying a recommendation by referring to the relative costs and benefits.

The student has demonstrated an in-depth understanding by identifying scarce resources, explaining how limited income and the goals of the BOT may affect an economic decision about an unrestricted donation from licensing trusts, and why this economic decision would create an opportunity cost (6).

Additionally, the student collected information, gathering different viewpoints from interviews, and the student has also identified options and compromises from this information (7). The student also applied the main factors involved in making the economic decision to costs and benefits (8).

The costs and benefits of the options were evaluated and ranked on the basis of the weightings given to the different costs and benefits (9). The recommendation has been justified by referring to the relative costs and benefits, and is consistent with the evaluation of the options (10).

To reach Excellence, the weightings need to be explained in detail, for example, how the main factors influenced the weightings in terms of the numerical scale, and why some factors were considered more important than others would be explained.

For Merit, the student needs to demonstrate an in-depth understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• providing a detailed explanation of how the economic decision is affected by limited means and/or scarce resources
• identifying options and compromises by collecting information from groups with differing viewpoints
• ranking options on the basis of the costs and benefits
• justifying a recommendation by referring to the relative costs and benefits.

The student has demonstrated an in-depth understanding by identifying scarce resources, and explaining how limited income and the goals of the BOT may affect an economic decision about an unrestricted donation from licensing trusts (11).

The student has collected information, gathering different viewpoints from interviews, and the student has also identified options and compromises from this information (12). The main factors involved in making the economic decision were identified from student resource material (13).

The student has also identified some costs and benefits of both options (14). The influence of the compromises has been considered when making the final recommendation, and the recommendation has been justified by looking at the relative costs and benefits (15).

A more secure Merit would be attained if the costs and benefits were explained in more depth in terms of how or why, rather than listed as statements. Additionally, the student would be able to explain why making an economic decision creates an opportunity cost.

For Merit, the student needs to demonstrate an in-depth understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• providing a detailed explanation of how the economic decision is affected by limited means and/or scarce resources
• identifying options and compromises by collecting information from groups with differing viewpoints
• ranking options on the basis of the costs and benefits
• justifying a recommendation by referring to the relative costs and benefits.

The student has demonstrated an in-depth understanding by identifying scarce resources, and explaining how limited income and the goals of the BOT may affect an economic decision about an unrestricted donation from licensing trusts (11).

The student has collected information, gathering different viewpoints from interviews, and the student has also identified options and compromises from this information (12). The main factors involved in making the economic decision were identified from student resource material (13).

The student has also identified some costs and benefits of both options (14). The influence of the compromises has been considered when making the final recommendation, and the recommendation has been justified by looking at the relative costs and benefits (15).

A more secure Merit would be attained if the costs and benefits were explained in more depth in terms of how or why, rather than listed as statements. Additionally, the student would be able to explain why making an economic decision creates an opportunity cost.

For Achieved, the student needs to demonstrate understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• describing or providing an explanation of the economic decision the government must make
• identifying options by collecting information from groups with differing viewpoints
• identifying the costs and benefits of options
• providing an explanation of a recommendation on the option the government should choose.

The student has demonstrated understanding by describing an economic decision about an unrestricted donation from licensing trusts (20). The main factors involved in making the economic decision were identified by the student (21).

Additionally, the student identified options and compromises from collected information, and has explained some benefits and costs of the options (22). The student has ranked the options, and a recommendation has been described (23).

A more secure Achieved would be attained by identifying more costs and benefits of the options, and the recommendation would be consistent with an objective evaluation of the options against the main factors.

For example, equality was described as a main factor; however equity was not identified or described as a main factor but was used as a reason for the recommendation.

For Achieved, the student needs to demonstrate understanding of a government choice where affected groups have different viewpoints.

This would typically involve:

• describing or providing an explanation of the economic decision the government must make
• identifying options by collecting information from groups with differing viewpoints
• identifying the costs and benefits of options
• providing an explanation of a recommendation on the option the government should choose.

The student has demonstrated understanding by partially describing an economic decision about an unrestricted donation from licensing trusts (24), and has identified the main factors involved in making the economic decision from student resource material (24).

Additionally, the student identified options from collected information, and has identified some costs and benefits of the options (25). The options have been ranked and the recommendation is consistent with the ranking (26).

To reach Achieved, the student would identify and explain more relevant costs and benefits. Additionally, the student would provide a recommendation that is consistent with the evaluation of the options, which can therefore be explained avoiding subjective statements.