Economics - annotated exemplars level 2 AS91226

Analyse statistical data relating to two contemporary economic issues (2.5)

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This annotated exemplar is intended for teacher use only. The student work shown does not always represent a complete sample of what is required. Selected extracts are used, focused on the grade boundaries, in order to assist assessors to make judgements at the national standard.

Low Excellence

Commentary
Student work extract

Student 1 (PDF, 325KB)

For Excellence, the student needs to analyse statistical data comprehensively relating to two contemporary economic issues.

This involves making a justified forecast for one contemporary economic issue, using extrapolated statistical data from both of the contemporary economic issues.

The student has extrapolated statistical data about the New Zealand economy, and made a forecast that the economy is heading into a recession in the second half of 2013 (1).

The student has explained in detail how and why the extrapolated data supports the forecast of a recession, using the language of the AS/AD model e.g. AD, AS, PL and Y to support the justification, and to link it to the economic issues of inflation and unemployment (2). 

For a more secure Excellence, the student could add additional information from the analysis to support and fully link the justification back to both economic issues.

For example, the student could note there appears to be an inverse relationship between the inflation and unemployment rates (Dec. 10 to Dec. 13), suggesting that when the rate of inflation slows down, there will also be increasing unemployment. Additionally, the student could use the AS/AD model to help explain this inter-relationship (3).

High Merit

Commentary
Student work extract

Student 2 (PDF, 284KB)

For Merit, the student needs to analyse statistical data in depth relating to two contemporary economic issues.

This involves:

  • providing detailed explanations of relationships in statistical data for each of the two contemporary economic issues
  • providing detailed explanations of the inter-relationships between statistical data for these two contemporary economic issues using economic concepts and/or models.

The student has provided an in-depth analysis of statistical data about the New Zealand economy, relating to inflation and unemployment. Further, the student has extrapolated the statistical data, and made a forecast (4) which approaches Excellence.

The student has analysed and provided a detailed explanation of how and why the extrapolated data supports the forecast of a downturn. Additionally, the student has used the AS/AD model to support the explanations (5).

To reach Excellence, the student could provide more explanation of the extrapolated unemployment rate, using economic concepts and/or models (6), and explain in detail the links to both economic issues. For example, adding the changes to PL when using the AS/AD model would support the justification and link the explanation back to inflation.

Low Merit

Commentary
Student work extract

Student 3 (PDF, 56KB)

For Merit, the student needs to analyse statistical data in depth relating to two contemporary economic issues.

This involves:

  • providing detailed explanations of relationships in statistical data for each of the two contemporary economic issues
  • providing detailed explanations of the inter-relationships between statistical data for these two contemporary economic issues using economic concepts and/or models.

The student has analysed statistical data about the New Zealand economy in depth. Using the data, economic concepts and models, the student has explained trends and relationships for inflation and unemployment in detail (7).

The student has explained in detail the inter-relationship between the inflation rate and unemployment rate, and has briefly explained an inter-relationship between the exchange rate and the participation rate, using the AS/AD model (8).

For a more secure Merit, the student could include unemployment statistical data to support a detailed explanation of the second inter-relationship.

For example, the student could note that as AD decreases this affects the participation rate and the percentage change in the number of people employed, supported by the trends in the unemployment data (graphs 3 and 4).

High Achieved

Commentary
Student work extract

Student 4 (PDF, 494KB)

For Achieved, the student needs to analyse statistical data relating to two contemporary economic issues.

This involves:

  • processing and presenting statistical data for two contemporary economic issues to show trends.
  • providing explanations of relationships in statistical data for each of the two contemporary economic issues using economic concepts and/or models
  • provide explanations of inter-relationships between statistical data for these two contemporary economic issues using economic concepts and/or models.

The student has analysed statistical data about the New Zealand economy. Statistical data for inflation and unemployment has been processed and presented to show trends (9).

The student has explained some of the trends and relationships shown in the data in detail, using relevant figures and dates and the AS/AD and Labour Market models (10).

The student has explained the inter-relationship between the inflation rate and the unemployment rate, using the AS/AD model (11).

The student has explained a second inter-relationship between the exchange rate and the percentage change in the number of people employed, using specific data and the AS/AD model (12).

To reach Merit, the student could explain the inter-relationships in more detail, using other relevant inflation and unemployment data from the analysis.

Low Achieved

Commentary
Student work extract

Student 5 (PDF, 487KB)

For Achieved, the student needs to analyse statistical data relating to two contemporary economic issues.

This involves:

  • processing and presenting statistical data for two contemporary economic issues to show trends.
  • providing explanations of relationships in statistical data for each of the two contemporary economic issues using economic concepts and/or models
  • provide explanations of inter-relationships between statistical data for these two contemporary economic issues using economic concepts and/or models.

The student has analysed statistical data about the New Zealand economy. Statistical data for inflation and unemployment has been processed and presented to show trends (13).

The student has explained the trends using relevant figures and dates, and explained some of the relationships shown in the inflation and unemployment data, using the AS/AD and Labour Market models (14).

The student has explained the inter-relationship between the inflation rate and the unemployment rate, using trends shown in the data and the AS/AD model (15).

The student has provided partial evidence in the analysis of another inter-relationship explanation (16).

For a more secure Achieved, the student could provide more explanation (how or why) of the inflation relationship (17), and the inter-relationships, using relevant inflation and unemployment data from the analysis.

High Not Achieved

Commentary
Student work extract

Student 6 (PDF, 560KB)

For Achieved, the student needs to analyse statistical data relating to two contemporary economic issues.

This involves:

  • processing and presenting statistical data for two contemporary economic issues to show trends.
  • providing explanations of relationships in statistical data for each of the two contemporary economic issues using economic concepts and/or models
  • provide explanations of inter-relationships between statistical data for these two contemporary economic issues using economic concepts and/or models.

This student has worked with statistical data about the New Zealand economy. Statistical data for inflation and unemployment has been processed and presented to show trends, and the student has explained the trends using relevant figures and dates (18).

The student partially explained some of the relationships shown in the inflation and unemployment data, using the AS/AD and Labour Market models (19).

The student has identified the trends for the inter-relationship between the inflation rate and the unemployment rate (20).

To reach Achieved, the student could use ‘increase’ and ‘decrease’ more accurately in the explanations (21). The student could explain two inter-relationships by expanding on the information from the analysis, using relevant data and economic concepts and/or models.

 
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