New Zealand Scholarship Economics

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Economics assessment specification

Scholarship Performance Standard (93402) Economics
Method of assessment Written examination
For year 2021

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.

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:

  • the production possibility curve
  • the supply and demand model for 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)
  • the Lorenz curve
  • the 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:

  • the production possibility curve
  • the circular flow model
  • the aggregate demand and aggregate supply model
  • the multiplier effect
  • the 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

Candidates should have a ruler and a 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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