Economics - annotated exemplars level 1 AS90987 (Resource B)

Demonstrate understanding of a government choice where affected groups have different viewpoints (1.5)

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TKI Economics Assessment Resources

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Low Excellence

Commentary
Student response

Student 1 (PDF, 49KB)

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.

Comprehensive understanding is demonstrated by explaining why the government must make an economic decision in relation to reducing the budget deficit. The student has explained in detail how this decision is affected by limited means and scarce resources, and why this decision creates an opportunity cost (1).

The student identified options and a compromise from collected information, and identified a compromise option from an article (2).

The student covered the interviewees’ viewpoints, and incorporated information from the articles in the evaluation of the options, explaining the costs and benefits in terms of effectiveness, efficiency and equity (3).

The ranking of the options, and the recommendation, are consistent with the cost/benefit analysis, and consistent with the weightings applied to costs and benefits (4).

For a more secure Excellence, the student would widen the interviews to groups/individuals with different political viewpoints and ask the interviewees’ about possible compromises. This would achieve a more objective evaluation of costs and benefits and ranked options, and a justified recommendation based on weightings given to these costs and benefits.

High Merit

Commentary
Student response

Student 2 (PDF, 48KB)

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.

In-depth understanding is demonstrated by explaining why the government must make an economic decision in relation to reducing the budget deficit. The student has explained in detail how this decision is affected by limited means and scarcity, and why this decision creates an opportunity cost (5).

The student collected information, which included various articles and interviews, gathered different viewpoints, and identified options and a compromise from this information (6).

The student incorporated evidence from the collected information into their explanations of how and why some costs and benefits outweigh others, in terms of the factors of effectiveness, efficiency and equity (7). The student has also justified the recommendation by referring to the relative costs and benefits (8).

To reach Excellence, the weightings need to be explained in detail, for example, explaining how the main factors of effectiveness, efficiency and equity influenced the weightings given to costs and benefits, and why some factors were considered more important than others would be explained.

Low Merit

Commentary
Student response

Student 3 (PDF, 45KB)

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 explaining why the government must make an economic decision in relation to reducing the budget deficit, and explaining in detail how this decision is affected by limited means and scarcity (9).

The student has collected information, which included various articles and interviews, gathered different viewpoints, and identified options and a compromise from this information (10).

The student incorporated evidence from the collected information into explanations of how and why some costs and benefits outweigh others in terms of the factors of effectiveness, efficiency and equity (11).

The student has also justified the recommendation, implying that various benefits outweigh costs, and summed up the costs and benefits of each option in the recommendation (12).

For more secure Merit, the student would understand the main factors involved in making the economic decision. For example, correctly identifying the equity of identified costs and benefits when evaluating the options, and understanding the difference between effectiveness and efficiency (11). Additionally,why the economic decision creates an opportunity cost would be explained (9).

High Achieved

Commentary
Student response

Student 4 (PDF, 43KB)

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 explaining why the government must make an economic decision in relation to reducing the budget deficit, and has described how this decision is affected by limited means and scarcity (13).

The student collected information, which included various articles and interviews, gathered different viewpoints, and identified options and a compromise (14).

The costs and benefits were measured against the factors of efficiency, effectiveness, and equity in the evaluation of options (15), and the recommendation is consistent with the evaluation of the options (16).

To reach Merit, the student would explain in detail how the economic decision is affected by limited means and/or scarce resources.

The student would also be able to correctly identify whether the different costs and benefits were efficient, and/or effective, and/or equitable. Additionally, the student would explain in the recommendation how and why some costs and benefits are more significant than others.

Low Achieved

Commentary
Student response

Student 5 (PDF, 39KB)

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 that the government must make in relation to reducing the budget deficit (17). The student collected information, which included various articles and interviews, gathering different viewpoints.

The options were identified from the collected information (18) and the student has identified benefits and one cost of decreased business profit for ‘option 1’, and benefits and costs for ‘option 2’ (19). The recommendation has also been explained by comparing the two options, and is consistent with the evaluation of the two options (20).

For more secure Achieved, the reasons for the economic decision would also be described or explained. Additionally, other costs of ‘option 1’ would be identified, e.g. there would be a decreased demand for labour, and some firms would need to reduce staff numbers to stay in business, therefore increasing unemployment.

More of the relevant information from the interviews and articles collected from groups with differing viewpoints would be used, to reach a more objective evaluation of the two options and recommendation.

High Not Achieved

Commentary
Student response

Student 6 (PDF, 36KB)

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.

Understanding has been demonstrated by partially describing an economic decision the government must make in relation to reducing the budget deficit (21). The student collected information, which included various articles and interviews, gathering similar viewpoints, and has identified two options from the collected information (22).

The student has identified costs and benefits for the first option, and costs have been identified for the second option (23). The student has also provided a brief explanation for the recommendation.

To reach Achieved, more explanation is required in the recommendation (24). Additionally, the student needs to identify benefits for the second option, for example, with a sentence such as ‘increasing income tax increases government revenue, which would help reduce the budget deficit, and it’s arguably fairer and more efficient as all taxpayers share responsibility for reducing the deficit rather than a small group of New Zealanders’.

More objectivity is needed, as the student has identified, evaluated and recommended an option presented from one viewpoint, and the standard requires students to collect and examine different viewpoints of groups affected by the government choice.

 
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