New Zealand Scholarship Economics

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Economics assessment specification

Scholarship Performance Standard (93402) Economics
Mode of assessment Written examination
For year 2020

Format of the assessment

The examination will consist of 3 questions, all of which should be attempted.

Questions may relate to either micro-economic theory or macro-economic theory. 

Resource materials, designed to assist candidates in developing their answers, will be provided for each question.

All 3 questions will require candidates to produce an essay that communicates a sophisticated economic analysis in a contemporary New Zealand context effectively. This may involve abstraction, synthesis, generalisations, conclusions, and evaluation. Candidates will also be expected to demonstrate an awareness of economics in a broader context and independent thought, with answers that are economically literate, incorporating appropriate economic language, concepts (including models and graphs) and conventions.

Special notes

Guidance on the key aspects that should be covered will be provided in the instructions for each essay question.  

The curriculum examined will include the Economics achievement objectives up to and including Level 8 of the New Zealand Curriculum (i.e. including L1–L3 NCEA Economics achievement standards).

The micro-economic models assessed will be selected from:

  • production possibility curve
  • the supply and demand model for the goods and / or service markets
  • elasticity concepts
  • resource markets (e.g. labour market)
  • internationally traded goods markets
  • the cost and revenue model for a perfectly competitive firm / market and a monopoly (including natural monopoly)
  • Lorenz curve
  • marginal social cost / marginal social benefit model.

Policies assessed may include any used to correct for market failure.

The macro-economic models assessed will be selected from:

  • circular flow model
  • the aggregate demand and aggregate supply model
  • multiplier effect
  • foreign exchange model
  • the business cycle.

Macro-economic policies assessed may include:

  • monetary policy
  • fiscal policy
  • supply side policies
  • government regulation
  • international trade policies.

Equipment to bring

Ruler, standard calculator.

Economics resources

The links listed below are for resources to help teachers and students understand what is required for success in New Zealand Scholarship.

Performance standard

Exam materials (question books, resource books, reports, schedules, etc)

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