Economics (2010) syllabus - Queensland Curriculum and ... · PDF fileDeveloping skills in information communications technol ... Economics Senior Syllabus 2010 3. ... Queensland Studies

Queensland Studies Authority

EconomicsSenior Syllabus 2010

Syllabus 2010

ensland (Queensland Studies Authority) 2010

ority uth Brisbane

PO Box 307Spring Hill QLD 4004 Australia

Phone: (07) 3864 0299 Fax: (07) 3221 2553 Email: [email protected] Website: www.qsa.qld.edu.au

ISBN: 978-1-920749-89-7

Economics Senior

© The State of Que

Queensland Studies Auth154 Melbourne Street So

Contents ........... 1

.1 .............. 2

........... 3

.............. 3

.............. 3

.............. 3

2.3 Synthesis and evaluation ........................................................................... 4

.............. 4

........... 6

.............. 6

.............. 6

.............. 6

.............. 7

3.5 Topics ........................................................................................................ 8

............ 14

14

. ......... 15

............ 15

............ 16

......... 18

............ 18

............ 21

............ 21

............ 21

............ 23

.6 ............ 28

29

............ 29

. ......... 33

.......... 34

8. Educational equity................................................................. 35

9. Resources .............................................................................. 36

10. Glossary ................................................................................. 38

1. Rationale .......................................................................1 Indigenous perspectives ..............................................................

2. General objectives .......................................................Introduction...........................................................................................

2.1 Knowledge and understanding ....................................................

2.2 Investigation.................................................................................

2.4 Attitudes and values.....................................................................

3. Course organisation.....................................................3.1 Time requirement.........................................................................

3.2 Course overview ..........................................................................

3.3 Core and electives .......................................................................

3.4 Planning a course of study...........................................................

3.6 Composite classes.......................................................................

3.7 Work program requirements ....................................................................

4 Learning experiences...................................................4.1 Learning experiences in Economics ............................................

4.2 The inquiry approach ...................................................................

5. Assessment ..................................................................5.1 Principles of exit assessment.......................................................

5.2 Planning an assessment program................................................

5.3 Special provisions ........................................................................

5.4 Authentication of student work.....................................................

5.5 Assessment techniques ...............................................................

5 Requirements for verification folio................................................

5.7 Exit standards ..........................................................................................

5.8 Determining exit levels of achievement........................................

6 Language education.....................................................

7. Quantitative concepts and skills................................

Queensland Studies Authority May 2010 | 1

1. Rationale

. omic problem” of

times tal and

Increasingly lisation impacts significantly on international, national and local levels.

core topic

t years, vironment in

forces that act upon our lives. This increased media focus ision making and

ng the ss and

conomic skills , senior students should gain the

understand ons at other levels

sses of inquiry of

, synthesise and evaluate economic data, gs on a range

ogy will help

nts who ly and as a group, in developing

a line of inquiry and devoting time to research. As a citizen, everyone has to make decisions on a wide variety of economic problems of personal, local, state, national and international significance. The study of Economics provides students with knowledge and skills that are relevant for living in present-day society, and are useful for a range of careers including those in government, commerce, industry, and education.

Economics is a study of how to use scarce resources in the best way possibleHouseholds, businesses and governments are confronted with “the econalternative uses of their limited resources. For this reason, Economics is somecommonly referred to as the science of choice. The social, political, environmeneconomic ramifications inherent in the process of choosing will be considered.the process of globaAn appreciation of the processes of globalisation is developed through the International economics.

The extensive media coverage of economic problems and events has, in recenhighlighted the need for increased community awareness of the economic enwhich we live and the economichas fostered a growing public perception of the impact of economic decthe relevance of studying economics.

This course of study stresses the desirability of having students understandisignificance of economic events as well as the implications of individual, businegovernment economic decision making. In emphasising the application of eand concepts to the problems facing Australian societyskills to make competent decisions at the personal level. They will also come toand, where possible to participate in, the making of economic decisiusing simple economic models such as the circular flow model.

This syllabus is predicated on an inquiry approach model. Through the procestudents develop economic literacy, i.e. economic knowledges and the skillscommunication required to comprehend, analyseuse economic reasoning, including cost/benefit analysis, and to report findinof increasingly complex economic issues and propose possible and preferred responses and policy options. Developing skills in information communications technolstudents to use the processes of inquiry more effectively.

Economics in Years 11 and 12 is a challenging and interesting subject for studeconsider themselves capable of working both independent

1.1 Indigenous perspective

2 | Economics Senior Syllabus 2010

s

raditions, trengthen

nt sections of syllabus identify content and skills that can be drawn upon to encourage engagement

s Strait Islander peoples live

rent segments :

n areas. r study can make comparisons of demographic and geographic features; health

conditions; education facilities; employment; income, expenditure; housing; and the effect of prejudice on economic opportunity and impact for Aboriginal and Torres Strait Islander peoples.

This syllabus recognises Aboriginal and Torres Strait Islander peoples, their thistories and experiences prior to colonisation through to the present time. To sstudent appreciation and understanding of the first peoples of the land, relevathe with:

Indigenous frameworks of knowledge and ways of learning

Indigenous contexts in which Aboriginal and Torre

Indigenous contributions to Australian society and culture.

In Economics there is opportunity to explore the nature of traditional and significant differences of Aboriginal and Torres Strait Islander economy compared to Western economy. The position of Aborigines and Torres Strait Islanders in the diffeof society from remote to settled Australia in which they live can be introduceddecentralised communities; urban and rural communities; and the major urbaFurthe


2. General objectives

Introduction

to teach and into four

he first eneral objectives. The fourth group of general

ough teaching

cteristics rounded and developed in another. The process of learning through each of

ication over a four-

neral objectives. The e same dimensions as the assessable general objectives.

jectives and dimensions for a course in this subject are:

erstanding

Investigation

2.1

t various es of

ntexts include: economic decisions or policies, economic data and information, c systems.

ic data and information. ic concepts and models in a variety of

tures of writing are used to communicate the products and processes of ation such as

and sentence construction.

ould be able to:

pts, principles and the structure and operation of

s, models, patterns, ities and differences in data and information

use appropriate conventions of communication.

2.2 Investigation

Investigation has two key elements, economic inquiry and analysis of economic information.

The general objectives for this subject are those that the school is requiredstudents have the opportunity to learn. The general objectives are groupeddimensions, i.e. the salient properties or characteristics of distinctive learning. Tthree dimensions are the assessable gobjectives, Attitudes and values, is not directly assessed as it is achieved thrand learning approaches offered to students.

Progress in aspects of any dimension at times may be dependent on the charaand skills foregthe dimensions must be developed in increasing complexity and sophistsemester course.

Schools must assess how well students have achieved the gestandards are described in th

The general ob

Knowledge and und

Synthesis and evaluation

Attitudes and values

Knowledge and understanding

Knowledge refers to recall and description of economic ideas and information alevels including local, national and global across a variety of contexts. Exampleconomic coeconomic problem or issues, economic opinions and viewpoints and economi

Understanding refers to the application and explanation of economThis includes the transfer and translation of economcontexts.

The technical feastudy and inquiry. These include using appropriate conventions of communicspelling, punctuation, grammar, and paragraph

By the conclusion of the course, students sh

describe economic terms, facts, conceeconomic models

apply and explain using examples, economic techniques, conceptsimilar

Economic inquiry refers to providing opportunities for students to explore aproblem where they select, organise and record data and information to deconomic inquiry processes, including focusing research questions, gatheringorganising data and information from a variety of primary and/or secondardetermining the


n economic emonstrate

and y sources, and

validity of data by checking information for completeness, relevance,

ic information refers to the examination and interpretation of economic

data for completeness, relevance, accuracy and bias to determine validity

analyse economic relationships through the interpretation of patterns, data and

2.3 is and evaluation

using criteria, of economic issues or problems.

he findings of an inquiry or response to stimulus tics that meet

ct economic understanding from viewpoints, economic ideas and decisions

ing implicit or explicit criteria, to draw conclusions

communicate information through sequencing subject matter to convey economic

2.4

portunities to clarify their rights and m.

dvantaged, as ness of

implications of economic decisions on all groups in society.

economics is a process playing a vital part in the determination of the and

develop a continuing and questioning interest in social, political and environmental aspects of the economic problem and a commitment to the application of economic principles in responding to personal economic problems and in exercising influence as a citizen and a voter

clarify their attitudes and values in relation to the implications of economic decisions in terms of social justice, environmental concerns, cultural factors and practical limitations

accuracy and bias.

Analysis of economdata and information.

By the conclusion of the course, students should:

select and organise data and information from sources

examine

information.

Synthes

Synthesis refers to drawing on a variety of ideas and information to construct understanding.

Evaluation refers to appraisal,

Communication skills are used to present tusing genres, including appropriate referencing, formats, graphs and statisthe needs of context and audience.


constru

appraise economic ideas, us

meaning.

Attitudes and values

Attitudes refers to engaging students in opresponsibilities as a citizen and participant in an economic syste

Values refers to developing empathy with the socially and economically disawell as those responsible for making economic decisions and to developing awarethe ethical and responsible


engage in questions of values and contestable choices

appreciate thatsocial fabric locally, nationally and globally, and in Australia’s relationshipsconnections with the world.


riables:

s Strait Islander cultures

ound

bilities and learning difficulties

socioeconomic circumstances and poverty.

develop understandings of diversity framed by the following va

Aboriginal cultures and Torre

cultural and linguistic backgr

disa

gender

rural and remote location


3. Course organisation

3.1 Time requirement

nt for a urse of study

ver four semesters (220 hours).

3.2

ide opportunities for students to know and

hours)

elective topic must be studied per semester (between 12 and 20 hours)

um of four and maximum of six elective topics must be studied over four

stances of the hool.

s such as

land Rail

conomic objectives if the value of the Australian dollar

e. economic knowledge, concepts, models and nomic issues or problems not previously encountered, which are

not routine and require critical thinking

acknowledgement of the impact of globalisation on economic systems.

3.3 lectives

twelve ese are listed below:

The minimum number of hours of timetabled school time, including assessmecourse of study developed from this syllabus, is 55 hours per semester. A cowill usually be completed o

Course overview

A course of study in Economics needs to provunderstand core economic concepts through:

balance and integration of core and elective topics

one core topic must be studied each semester (between 25 and 35

at least one

minimsemesters

core and elective topics may be studied in any order to suit the circumsc

a range of real and hypothetical situations both identified and new:

Australia's relationships with global economies and economic institutionAsia

government decisions to privatise major institutions, e.g. Telstra, Queens

review of the Government’s ewere to appreciate to US$1.20.

an increasing complexity of challenge, i.skills are applied to eco

Core and e

There are four core topics and elective topics and th

Core topics — one each semester

1. Markets and models 3. Contemporary macro-economic management

2. Contemporary micro-economic issues 4. International economics


Elective topics — minimum of four and s maximum of six over four semester

1. Share market 7. Income and expenditure analysis

2. Personal economics 8. Population

3. Globalisation and trade 9. Environment

4. Industry and market concentration 10. Labour

5. Income and wealth distribution ms and development 11. Syste

6. Finance 12. School elective

School elective

Schools may develop their own elective topic. Schools doing so must submit their elective as part of their work program. The elective must set out the intended area of study, using

llabus (refer to elective topic 12: School elective). A d on the web.

3.4

achers should consider how the study of core and e topics will foreground the economic problem, use key economic models such as

velops research

s a process, a way of thinking and ts of: refining the economic problem to be investigated,

ions and

Research and communication

nication refers to the skills for participating in inquiry and presenting recording rocesses and

r a variety of purposes and audiences.

economic problem is fundamental to a course of study in erstand the economic problem in any depth a unit of work

or how to use scarce resources in the best way possible

a variety of contexts which include:

economic decisions or policies

economic data and information

economic problems or issues

economic opinions and viewpoints

the format of elective studies in the sysample school elective topic is provide

Planning a course of study

In the planning of a course of study, teelectivcircular flow and cost–benefit, and require students to use inquiry which deand communication skills.

Inquiry

Inquiry is central to learning in Economics. Inquiry iproblem solving and consisanalysing and synthesising data and information to evaluate and draw conclusreflecting on product and processes throughout the inquiry.

A suggested Inquiry approach can be found in Section 4.2.

Research and commuthe findings of inquiry. Research involves formulating tasks and gathering anddata and information. Communication involves conveying information on the pproducts of an inquiry fo

The Economic problem

The investigation of an identifiedEconomics. For students to undshould be designed around:

study of the economic problem


ms.

w model and the cost–benefit model form the basis for making.

for this wn where and

tes important and complex s of income between key sectors in an economy and can assist in

onal

cost–benefit analysis model can be used to assist individuals, firms or societies to decide whether to take action, if and only if the extra benefits from taking the action are at

at as the extra costs. The costs may be money costs but are often opportunity costs.

3.5 pics

The topics are presented on the following pages as core or elective. Following the topic number and title is a focus statement providing the rationale, and the key ideas for each topic.

economic syste

Key economic models

Throughout the course of study, students should understand and utilise economic models. In this syllabus, both the circular floeconomic analysis and decision

The circular flow of income model

The circular flow of income model is fundamental to economic understandingsyllabus. The basic model should be explained and students should be shohow each topic fits into the model.

The circular flow of income or circular flow model demonstrarelationships and flowexplaining and forecasting changes in the levels of economic activity.

The cost–benefit model

Economists use the cost–benefit principle as an abstract model of how an idealised ratiindividual would choose among competing alternatives. It is a fundamental tool used by economists to assist in making decisions.

The

least as gre

To


Core topics

1. Markets and models 2. Contemporary micro-economic issues

Core topic focus

Economics is concerned with the study ofEconomic models help simplify complex relati

sc

onships on a local, national and interna

lex. The best s from utilising the al economic

behaviour can result from using this model.

arcity.

tional

Economic decision making is compuse of scarce resources comecost–benefit model and ration

basis.

Key ideas

economics is the study of scarcity. It involves resources (e.g., time, money) ardecision making that takes place at indibusiness, national and international lev

the circular flow model and the importa

vidual, els nce of stralian

o em

are not, and therefore the decmake choices regarding how beresources

the cost–benefit model states thmakers should only take a particulaction if they expect benefits to begr

relationships between sectors in the Aueconomy, changes in the level of economic

ark

w (

ges, injections, P, CPI,

ution of keg. AdamJ.S. Mill,

an, Ben Bernanke).

e limited, wants ision maker must

st to use their

at decision ar course of equal to or

ts; application of ed in

ssible level of

s, decision makers should make the choice that maximises

should make the y cost (e.g.

economics

ls, companies t a rational

en if they are g. marginal

osts, economic surplus,

in the form of techniques to d benefits in

parison there are certain pitfalls that decision makers

routinely make (e.g. they fail to ignore sunk osts)

s and the evolution of micro-economic artya Sen, John Nash, Steven

im Harcourt).

activity not all nations approach the economic p

in the same way the price mechanism is a linking me

between sectors of the circular flowis fundamental to an understanding oeconomies like Australia attempt to

r bl

chanism model and

f how solve

eater than the expected costhis model allows limited resources to be usa way that achieves the highest posatisfaction

choosing between two alternative

economic problems (key terms arequantity, demand, supply, equilibrium, elasticity, extensions and contractions,

- price,

price d utility) ncept of

their economic surplus; i.e. theychoice that minimises their opportunitrational self-interest, optimisation, surplus)

the decisions made by individuaceiling, price floor, satisfaction, an

the cost benefit model and the coopportunity cost are fundamental tools ueconomic analysis and decision makingthe scarcity of resources

governments actively modify mintervening in the operation of the pri

sed in given

ets by

and governments often reflecevaluation of benefits and costs, evnot consciously aware of this (e.benefits, marginal c

ce e.g. factors of

opportunity costs) not all costs and benefits are mechanism and the circular flo

production, wages, rent, profit, interesavings, consumption, taxation, invexports, imports, leaka

st, income, estment,

money, however, economists haveassign dollar values to all costs anorder to facilitate a com

production, economic indicators, GDinequality, and unemployment)

key thinkers and the evol y costs, opportunity ceconomics theories (e.

Alfred Marshall, Smith, Karl

l key th

Marx, A an theory (e.g. AmGreensp

inker

Levitt, Gary Becker, T

Electives (possible links to this core topic)

Personal economics Share market Systems and development Finance Population Labour

Income and wealth distribution Personal economics Share market Systems and development Industry and market concentration


Core topics

3. Contemporary macro-economic management

4. International economics

Core topic focus

Economic activity fluctuates. Governmcentral banks have roles to play in ma

entsnagin

these fluctuations to meet their economic es.

by international

these flows to meet their economic objectives.

and g

The global economy is influenced financial flows. Governments attempt to manage

objectiv

Key ideas

governments establish and prioritnumber of economic objectives (e.g. inbalance, price stability, full employmeexternal balance, eco

ise a ternal

nt,

international sector (e.g. open ecoopportunity cost, specialisation, abscomparative and competitive advan

nomic grth

elations, Nati

indic, economic

ated by using various criteria key thinkers and the evolution of ke

d anke,

nson, Paul Krugman

nomy, olute, tage)

untry’s external n its domestic

ary source of of the world; the

eloped of income

ion possibilities, , free trade and

t account, ent account,

eficit current ic indicators

vide information to help p between the

rs of the economy te, foreign

nge rate, ation,

weighted nternational performance;

governments may seek to influence the exchange rate through regulation and intervention in the

d the evolution of key economics theories (e.g. David Ricardo, Michael Porter, Paul

glitz).

owth, , sustainable

s, are

changes in the prosperity of a cosector can have significant effects oeconomy

external trade relations are a primincome flows to and from the rest models and theories economists have dev

distribution of income and wealdevelopment) to achieve their goal ofimproving living standards

range of policies, subject to changing economic, political and social conditionimplemented to achieve these objectives

y policy, m,

onal

mpacts of

to explain trade (e.g. circular flowmodel; overseas sector, productfactor endowment, globalisationone-world dogmas)

the balance of payments (e.g. currenfinancial account, balance on curr

(e.g. macro-economic policy, monetarfiscal policy, micro-economic reforstructural reform, industrial rCompetition Policy, trade policy)

governments are conscious of the ieconomic issues and policy measuresvarious sections of the community

on

e.g. ators,

re identified cies

terms of trade, current account daccount surplus) and other economsuch as terms of trade, proderive and analyse the relationshidomestic and external secto

the exchange rate (e.g. exchange raexchange market, floating excha

patterns and trends in economic data (trade/business cycle, economicGDP, inflation, unemploymentgrowth, current account, trends) ato guide the implementation of poli

government management of thbe evalu

e economy can

y

appreciation, depreciation, devalurevaluation, foreign reserves, trade-index) reflects i

economics theories (e.g. John MaynarKeynes, Milton Friedman, Ben BernJoan Robi , Alan market Greenspan). key thinkers an

Krugman, Joseph Sti

Electives (possible links to this core topic)

Environment Globalisation and trade Finance Population Income and wealth distribution

Globalisation and trade Systems and development Finance Income and expenditure analysis


Elective topics

1. Share market 2. Personal economics

Focus

The share market plays a role in aggregatiportion of household savings for investment in the domestic and international business sector, the

ng

nce of ethical conduct of the share market.

nments consumers nomic rights,

obligations and responsibilities.

a In complex economic enviroshould be aware of their eco

importa

Key ideas

Household sector’s savings link to the domector requir

chnology Share market fundamental anal

estment and superannuation ent

Consumer protection and institutions

stic Budgeting and international business se

ds ing

investment fun Influence of te

ysis Income Price mechanism Ethical practices

Saving Inv Risk managem

Expenditure Taxation and welfare

3. Globalisation and trade 4. Industry and market concentration

Focus

Globalisation, trade issues, government policies rnational institutions create challenges,

sectors o

Industry competition and market structures determine economic efficiency. Producers,

ernments play a key role in this and intecosts and benefits, for all f the economy. consumers and gov

issue.

Key ideas

International specialisation

ation and free trade

Government policy Geopolitical evolution International institutions and forums facilitate

growth of international free trade

nciples anism

Types of firms and market structures Economies and diseconomies of scale Restrictive trade practices Government regulation and policy Economic institutions

Impact of technology Benefits and costs of globalis

Cost and revenue pri Price mech


Elective topics

5. Income and wealth distribution 6. Finance

Focus

Market outcomes are not always fair and governments intervene to alter income and w

ey flows in an y. It is influenced by markets, governments

and central banks. ealth

The financial sector facilitates all moneconom

distribution.

Key ideas

Poverty — absolute and relativ

e welfare

elfare policy

banks of Australia and monetary policy

ulation and deregulation World money markets

e Mo Taxation Statistical measurement

ocial justic Equity and s Government and non-government

institutions and agencies W

ney Liquidity Investment

non- Banks ande Bank Reserv

Reg

7. Income and expenditure analysis 8. Population

Focus

Economists use quantitative analysis when ity. Polic p

Economic activity is reliant on a nation’s human icy has a role to play in the

man capital. measuring economic activ

ysis. y rescriptions capital. Government pol

pment of this huemerge from such anal develo

Key ideas

Macro-economic models Macro-economic theory Multiplier Government policy — fiscal and monetary Micro-economic reform

c patterns and data rce

Ageing population Immigration Education and training Resource use Government policy

Demographi Labour fo


Elective topics

9. Environment 10. Labour

Focus

The environment is a finite resoanalysis plays an important ro

urce. Economle in the

ment of a sustainable future.

omic resource. The optimal way to price labour is contested.

ic Labour is a key econ

develop

Key ideas

Spaceship earth d non-renewable resoth

overnment intervention and policy

anism apital versus labour

employee organisations tions systems

Government intervention and policy

Renewable anic grow

urces C Econom Externalities Price mechanism Trade offs Intergenerational equity G

Price mech

Wage determination Efficiency Equity Employer and Workplace rela

11. Systems and development 12. School elective

Focus

Economies develop according to their endowment rces, values and ideologies.

Include a statement of intended learning linking the elective topic to the organisational framework of the

ent from the in the syllabus.

of resousyllabus. Must be significantly differelective and core topics described

Key ideas

Economic systems Development Measures of poverty

Social, cultural and environmental endowment Non-government organisations Transnational corporations Government policy Globalisation and geopolitical evolution

Between four and six key ideas relevant to the school-based elective should be derived to provide a framework of knowledge and understanding central to the study intended for this topic.

International relations

3.6 Composite classes


2 classes, combined campuses, or modes

e syllabus can support teaching and learning for composite classes by

the key

dent work on ppropriate occasions.

composite

intends to to both cohorts.

ld be placed at

assessment instruments need to cater for both year levels course. Even though tasks may be similar for both year levels, it is

12 students.

could cater for students who enter a course later than the rest of the class. dents entering

nt topics already covered in the

is not intended to be considered as a substitute for key terms and concepts or a topic — subsequent key terms and concepts or topics

nnel.

3.7

sessed, l characteristics

ents and must demonstrate that there will be sufficient scope and depth of student learning to meet the general objectives and the exit standards.

The requirements for on-line work program approval can be accessed on the Queensland Studies Authority’s website, www.qsa.qld.edu.au (select Years 10–12 > Years 11–12 subjects). This information should be consulted before writing a work program. The requirements for work program approval may be updated periodically.

This syllabus enables teachers to develop a course that caters for a variety of circumstances, such as combined Year 11 and 1of delivery involving periods of student-managed study.

The flexibility of thenabling teachers to:

structure learning experiences and assessment that allow students to access concepts and ideas suited to their needs in each year level

provide opportunities for multilevel group work, peer teaching and indepena

The following guidelines may prove helpful in designing a course of study for aclass:

The course of study could be written in a Year A/Year B format, if the schoolteach the same topics

A topic that will allow Year 11 students ease of entry into the course shouthe beginning of each year.

Learning experiences andthroughout the recommended that more extended and/or complex tasks be used with Year

Bridging study

A bridging studyThis may include students entering the first year of a composite class, or stua course significantly after its commencement. There may be other contexts in which a bridging study is used.

The bridging study:

might introduce key terms and concepts or supplemecourse

the study is intended to supplement any

is not expected to be included in a work program for approval.

Advice on designing a bridging study could be sought from relevant QSA perso

Work program requirements

A work program is the school’s plan of how the course will be delivered and asbased on the school’s interpretation of the syllabus. It allows for the speciaof the individual school and its students.

The school’s work program must meet all syllabus requirem


4. Learning experiences

with the syllabus.

r support ort

rning as general objectives. See the QSA website for examples of sample courses.

Further information can be found at <www.qsa.qld.edu.au> (select Years 10–12 > Years

4.1

l sciences, ntal and commercial studies, and humanities such as history. While students can

e versa, local and global

ics. This includes thinking like an economist, using tools such as cost benefit h as opportunity

uch as the circular flow of income and the sses and

ences provided in the course (refer to

xperiences

through a range of affective dimensions, such as developing es and the ability

uding

xtent of their

r definitions of

use technology where appropriate, including the gathering of information, analysis, presentation and communication

provide opportunities to communicate in a range of genres both written and non-written.

Supplementary material to support non-specialist teachers with clear explanations, resources and examples can be found on the QSA website.

Learning experiences in Economics should be devised to provide students opportunity to achieve the general objectives and the exit requirements of the

Learning experiences in Economics should be increasingly complex and sophisticated as students progress through the course. Initially it would be expected that teacheand scaffolding is evident, and through Year 12, students should have less teacher suppand be able to demonstrate greater independent learning skills. Opportunities should alsobe presented for collaborative learning with peers.

Learning experiences are activities and/or tasks that contribute to student leaoutlined in the

11–12 subjects).

Learning experiences in Economics

Economics is related to many other disciplines, such as the social and politicaenvironmeapply their understanding of these disciplines to the study of Economics and victhere are also many opportunities to study and learn about cross-cultural,perspectives.

This syllabus is designed to help students to learn and practise skills specific to the study of economanalysis to assist with decision making, and employing key concepts succosts and utility. Applying economic models sprice mechanism can assist students to understand complex economic procesystems.

Inquiry underpins the range of learning experiSection 4.2 for an example of an inquiry approach).

To enable students to achieve the general objectives of the course, learning ewill:

be related to a wide range of contemporary issues

provide opportunities opinions, values, awareness of ethical and moral implications of choicto empathise with, and to respect the opinions and values of others, inclindigenous communities

provide opportunities for students to develop and demonstrate the full ehigher order thinking skills

create opportunities for the critical use of qualitative and quantitative data from a diversity of sources, both primary and secondary (refer to glossary foprimary and secondary sources)

4.2 The inquiry approa


ch

changing, n inquiring mind. The inquiry approach

he teaching and learning of the subject.

s

ntions, and that they select. (Advice for teachers regarding the

tations and references in student work is provided in Sections 5.4 and 5.5).

am on page 17.

. Inquiry is e above steps.

rn to earlier steps, either to monitor progress ation. Such but also to the

formation acquired and emphasis should be f an inquiry

ollected by others, the of this data

and avoid making unsupported generalisations.

Evaluation and synthesis must be supported by the processing of data and evidence. According to the nature of the task, the student may wish to make further recommendations, take action on the conclusions reached or suggest follow-up research.

As Economics is a dynamic discipline and the knowledge base is constantly there should be a nurturing of skills that develop ashould underpin t

The inquiries should:

foster an awareness of Australia’s relationships with the global economies and economic institutions, in particular Asia, through contemporary case studie

ensure that student work is authenticated, conforming to referencing convebeing critical of the sources authentication of prepared tasks and use of ci

See the Economics inquiry process diagr

4.2.1 Using inquiry in Economics

The inquiry approach is to be embedded in the teaching and learning activitiesnot restricted to research projects and does not have to encompass all of thThe inquiry approach is not linear.

Inquiry involves a recursive and reflective retuor to adapt and adjust the questions or hypothesis in relation to new informmetacognitive reflection applies not only to the conclusions of the researchconduct of the inquiry itself.

Inquiry requires careful analysis of the inplaced on increasing student awareness of ways in which the application oprocess may serve to determine outcomes. In analysing data cstudent should be aware of variables that can affect the collection and validity

Economics inquiry proc


ess

now abouth

What do I need to know? What is my central question/argument?

SE or secondary

rces can I use? nformation is

on relevant to the question(s)?

What other information do I need?

SISE support/do not

y answer? t criteria will I use to

e question? What weighting will I place

on each of the criteria? Are new questions/

concepts models raised?

EVALUATE How do I match the

criteria to the evidence? Does the evidence match

the criteria?

What is my main point? What is my audience and

what genre will I use? What is my

decision/conclusion?

New learning

riticathinking/re

throughout the process

lution been found? How does it connect to the central

question/argument? What else is important? Do I need to rephrase the central

question? What have I learnt that can inform

future learning?

DEFINE

(Refine or frame) What do I want to k the topic?

e topic? How do I know the ivalid

ANALY What primary and/

resou

and reliable? How is the informati

What do I already know about t

SYNTHEl What parts

support mflecting

Whaanswer th

C

PRODUCE

REFLECT Has a so


5. Assessment

s 11 and 12 it and ongoing collection of information about student learning

bject are out which

rds describe the

senior Authority subjects are to:

programs of teaching and learning

l as they are

ments of

in each Authority subject to be recorded in t may contribute to

ation

serve as the base data for tertiary entrance purposes

ups of students are achieving for school

5.1

nt.

the four-semester course of study requires

h a process of continuous assessment.

and not necessarily a

achievement levels are devised from student achievement in all areas identified in

ievement is in the significant aspects of the course of

Selective updating of a student’s profile of achievement is undertaken over the course of study.

Exit assessment is devised to provide the fullest and latest information on a student’s achievement in the course of study.

While most students will exit a course of study after four semesters, some will exit after one, two or three semesters.

Assessment is an integral part of the teaching and learning process. For Yearis the purposeful, systematicoutlined in the senior syllabuses.

In Queensland, assessment is standards-based. The standards for each sudescribed in dimensions, which identify the valued features of the subject abevidence of student learning is collected and assessed. The standacharacteristics of student work.

The major purposes of assessment in

promote, assist and improve learning

inform

advise students about their own progress to help them achieve as welable

give information to parents and teachers about the progress and achieveindividual students to help them achieve as well as they are able

provide comparable levels of achievementstudent learning accounts. The comparable levels of achievementhe award of a Queensland Certificate of Educ

provide information about how well groauthorities and the State Education and Training Minister.

Principles of exit assessment

All the principles of exit assessment must be used when planning an assessment program and must be applied when making decisions about exit levels of achieveme

A standards-based assessment program forapplication of the following interdependent principles.

Information is gathered throug

Balance of assessment is a balance over the course of study balance over a semester or between semesters.

Exitthe syllabus as being mandatory.

Assessment of a student’s achstudy identified in the syllabus and the school’s work program.

Continuous assessm


ent

exit from a course of study must be based

ent using ts administered at suitable intervals over the developmental four-

g and

ment about their

e other five of exit assessment operate: balance, mandatory aspects of the syllabus, t aspects of the course, selective updating, and fullest and latest information.

hievement made at exit from a course of study must be based

ce within a

student achievements of all the times using a variety of assessment

ditions over the developmental four-semester

out student achievement made at exit from a course of study must be based

esis and

two core topics must be studied and assessed in Year 12

er course of ts, the exit standards for the dimensions stated in

Judgments about student achievement made at exit from a course of study must be based on significant aspects of the course of study.

Significant aspects are those areas described in the school’s work program that have been selected from the choices permitted by the syllabus to meet local needs.

The significant aspects must be consistent with the general objectives of the syllabus and complement the developmental nature of learning in the course over four semesters.

Judgments about student achievement made aton an assessment program of continuous assessment.

Continuous assessment involves gathering information on student achievemassessment instrumensemester course of study.

In continuous assessment, all assessment instruments have a formative purpose. The major purpose of formative assessment is to improve teaching and student learninachievement.

When students exit the course of study, teachers make a summative judglevels of achievement in accordance with the standards matrix.

The process of continuous assessment provides the framework in which thprinciplessignifican

Balance

Judgments about student acon a balance of assessments over the course of study.

Balance of assessments is a balance over the course of study and not a balansemester or between semesters.

Balance of assessment means judgments aboutassessable general objectives are made a number of techniques and a range of assessment concourse.

See also Section 5.6 Requirements for verification folio.

Mandatory aspects of the syllabus

Judgments abon mandatory aspects of the syllabus.

The mandatory aspects are:

the general objectives of knowledge and understanding, investigation, synthevaluation and

the electives as selected by the school.

To ensure that the judgment of student achievement at exit from a four-semeststudy is based on the mandatory aspecthe standards matrix (refer to Section 5.8.1) must be used.

Significant aspects of the course of study

Selective updati


ng

nt made at exit from a course of study must be

re of the course of study and works

rmation

y updated (not

Schools may apply the principle of selective updating to the whole subject group or to

A school develops an assessment program so that, in accordance with the developmental e, later assessment information based on the same groups of objectives

ation). The be representative of the student’s achievements over the

ents, o the syllabus requirements and the school’s approved

ded

st be based

e range of

period in which achievement of the general objectives is assessed.

As the assessment program is developmental, fullest and latest information will most likely come from Year 12 for those students who complete four semesters of the course.

The fullest and latest assessment data on mandatory and significant aspects of the course of study is recorded on a student profile.

Judgments about student achievemeselectively updated throughout the course.

Selective updating is related to the developmental natuin conjunction with the principle of fullest and latest information.

As subject matter is treated at increasing levels of complexity, assessment infogathered at earlier stages of the course may no longer be representative of student achievement. Therefore, the information should be selectively and continuallaveraged) to accurately represent student achievement.

individual students.

Whole subject group

nature of the coursreplaces earlier assessment information.

Individual students

A school determines the assessment folio for verification or exit (post-verificstudent’s assessment folio mustcourse of study. The assessment folio does not have to be the same for all studhowever the folio must conform twork program.

Selective updating must not involve students reworking and resubmitting previously graresponses to assessment instruments.

Fullest and latest information

Judgments about student achievement made at exit from a course of study muon the fullest and latest information available.

“Fullest” refers to information about student achievement gathered across thgeneral objectives.

“Latest” refers to information about student achievement gathered from the most recent

5.2 Planning an assessment prog


ram

s section, schools must nning a standards-based assessment program:

2)

ee Section 5.5)

5.5)

n folio requirements, that is, the range and mix of assessment instruments dards of achievement (see

opportunities iliar with the assessment techniques that will be used to make summative

judgments.

und at <www.qsa.qld.edu.au> (select Years 10–12 > Years 11–12 subjects).

5.3

ular students licy on Special Provisions for School-based

from ance). This at schools may

for students, it is important that schools plan of an assessment program and not at the

alternative

5.4

and genuine re that students’ work is their own,

ic resources or when they are preparing

ating student work for learning and “authenticating”). This

statement provides information about various methods teachers can use to monitor that students’ work is their own. Particular methods outlined include:

student planning production of drafts and final responses

teachers seeing plans and drafts of student work

maintaining documentation of the development of responses

To achieve the purposes of assessment listed at the beginning of thiconsider the following when pla

general objectives (see Section

learning experiences (see Section 4)

principles of exit assessment (see Section 5.1)

variety in assessment techniques over the four-semester course (s

conditions in which assessment instruments are undertaken (see Section

verificationecessary to reach valid judgments of student stanSection 5.6)

post-verification assessment (see Section 5.6)

exit standards (see Section 5.7).

In keeping with the principle of continuous assessment, students should haveto become fam

Further information can be fo

Special provisions

Guidance about the nature and appropriateness of special provisions for particmay be found in the Authority’s PoAssessments in Authority and Authority-registered subjects (2009), available<www.qsa.qld.edu.au> (select Years 10–12 > Moderation and quality assurstatement provides guidance on responsibilities, principles and strategies thneed to consider in their school settings.

To enable special provisions to be effective and implement strategies in the early stagespoint of deciding levels of achievement. The special provisions might involveteaching approaches, assessment plans and learning experiences.

Authentication of student work

It is essential that judgments of student achievement are made on accurate student assessment responses. Teachers should ensuparticularly where students have access to electroncollaborative tasks.

The QSA information statement Strategies for authenticassessment is available from <www.qsa.qld.edu.au> (search on


e consistent accepted conventions of in-text citation and referencing, where appropriate.

e on drafting (written, multimodal or spoken

hat they may ocess.

eedback their work. The

ards should be used to help students identify the areas they need ols should consider the aspect of increasing independence when fting policies.

esponse that is nearly good enough to submit for assessment — it is likely to be the student’s second or third attempt at the task. Prior to submitting a draft, students

ine or to discuss their approach to the task with

be improved advised: to

e stronger arranging the

dicate some textual errors and indicate l editing. They may not correct or edit all the textual

written feedback on drafts submitted by the the draft; often teachers provide a summary of their feedback and advice to

Table 1: Su

students acknowledging resources used.

Teachers must ensure students us

5.4.1 Advicinstruments)

The purpose of viewing student drafts is to provide them with feedback so timprove their response. Drafting is a consultation process, not a marking prTeachers should not award a notional result or level of achievement. Drafting fshould ask the student to reflect on strategies they might use to refineinstrument-specific standto review. Schoconstructing dra

What is a draft?

A draft is a r

may be required to submit a written outltheir teacher.

What sort of feedback will be provided?

In providing feedback, teachers indicate aspects of the response that need toor developed in order to meet the dimension/standard. Students are often consider other aspects of their response; to provide more factual detail; to providlinks to the physical activity; to give priority to the most important points by resequence and structure of ideas. Teachers may inthat the draft requires more carefuerrors in a draft. Teachers may provide somedue date forthe whole class.

ggested drafting strategy

Instruments Year 11 Year 12

Written teacher consultation allowed outline submitted maximum of two drafts submitted

teacher consultation allowed one draft or outline submitted

Multimodal or spoken

teacher consultation allowed maximum of two drafts submitted verbal feedback provided

teacher consultation allowed one draft or outline submitted verbal feedback provided

5.5 Assessment technique


s

he judgment of general objectives and

ment

rmed criteria. Therefore, the criteria for an assessment instrument are drawn from the .1 Standards

ent out the quality

n assessment instrument. It lists the properties or characteristics for each

in a group or team, instruments must be designed work of individual students and not apply a

t and processes to all individuals.

es in Economics include:

supervised written assessment

research assessment

The techniques and associated conditions of assessment most suited to tstudent achievement in this subject are described below. Thedimensions to which each technique is best suited are also indicated.

For each dimension, standards are described. These standards descriptors are used to determine the properties or characteristics to be assessed by individual assessinstruments. The properties or characteristics for each instrument determined by a school are tesyllabus standards descriptors for relevant dimensions (see Section 5.8matrix).

Schools decide the instruments to be used for assessment. For each assessminstrument, schools develop a criteria sheet: a tool for making judgments abof student responses to aused to assess student achievements. Students must be given a criteria sheetassessment instrument.

Where students undertake assessment so that teachers can validly assess the judgment of the group produc

Assessment techniqu

5.5.1 Supervised writ


ten Supervised written assessment

Purpose:

This technique is used to assess student responses that are produced independently, under supervision eframe. There is no question of student authorship in this technique.

on a computer*) responses and is conducted gle or multiple items.

sions will be assessed though this instrument?

onditions.

n unseen prior

ose of ent. Unseen

estions usly been exposed to or have

be succinct enough to allow students large in number they

n

d seen or unseen supplied sources/stimuli

as this will better te the full range of standards

es

ret or analyse primary or secondary data, statistics, to apply algorithms or demonstrate mathematical calculations

paragraph responses gs not included in word count)

written in full sentences, a piece of prose that may have one or several paragraphs 50–250 words

multiple choice, single word, true/false, definitions or sentence answers useful for diagnostic and formative purposes often used for testing content knowledge difficult to construct questions that will elicit meaningful higher order cognition responses

and in a set tim

Brief description:

An instrument in this technique includes written (by hand or . Instruments may include sinunder supervised conditions

What dimen

Knowledge and understanding Investigation Synthesis and evaluation (should not be considered for short response)

Specific guidance to the techniques or items that should be used. May include some c

A supervised written instrument could be constructed using one or more items. The items might be iresponse to stimulus materials, which may be seen or unseen, or questions which should beto the administration of the assessment. When using seen questions, schools must ensure the purpthis technique is maintained. These conditions must be explained on the assessment instrummeans that the students have not previously seen the material or question. Unseen materials or qushould not be copied from information or texts that students have previodirectly used in class. When stimulus materials are used they shouldsu ficient time to engage with them. If the stimulus materials are lengthy, complex or

administration of the assessment. f

may need to be shared with students prior to the

Types of items that could be included in a supervised written assessment:

Extended written response — essays (persuasive, analytical, argumentative) require sustained analysis, synthesis and evaluation to fully answer a problem or questio generally follows analytical exposition format/genre responds to an seen or unseen question or statement an 400–800 words if an extended piece of writing is chosen, it is best if it is the only assessment item,

allow students to demonstra may include the genre of editorial opinion or economic analyst commentari

ther (includes practical exercises and calculations) short response — o students are required to construct, use, interp

graphs, tables or diagrams; and/orand problem solving

may include 50–250 words (applies to the prose, diagrams and workin

short response — prose where further explanation can be done in a sentence ideas are maintained, developed, justified


1 Year 12 Year 1

Recommended time: 1–1½ hours red

s

pen book or notes allowed, these st be clearly outline

lies to pro e, diagrded in the

Extended written response

e: 1½ –2 hours e required

here are used the

is maintained. ich general te.

ay be open book or notes allowed, these ns must be clearly outlined on the

s (applies to prose, diagrams ot included in the word count)

Extended written response

600–800 words.

Perusal times may be requi *Schools must ensure that where

computers/word processors are upurpose of this instrument is mainta

ed the ined.

Perusal times may b *Schools must ensure that w

computers/word processorspurpose of this instrument

Teachers should consider which geobjectives are most appropriate.

May be o

neral Teachers should consider whobjectives are most appropria

Mconditions mu d on the conditioassessment

Short responses unseen Stimuli/questions

50–250 words (apps not inclu

s am Stimuli/que

s 50–250 wordrkings nand working word count) and wo

seen or unseen question 400–600 words.

seen or unseen question

Recommended tim

assessment Short responses

stions unseen

What must teachers do when planning for a supervised assessment? What information must be provided to students about this technique?

Teachers should construct questions that are unambiguous. Teachers should format the assessment to allow for ease of reading and responding.

ted.

Teachers should provide students with learning experiences that support the types of items included in the assessment.

Teachers should teach the appropriate language and communication skills and strategies. Teachers should inform the students and indicate on the assessment what dimensions will be

assessed.

Teachers must consider the language needs of the students. Teachers should ensure the questions allow the full range of standards to be demonstra Teachers should consider the instrument conditions in relation to the requirements of the

question/stimulus. Teachers should determine appropriate use of stimulus materials and students notes.

5.5.2 Research assessm


ent Research assessment

Purpose:

This technique is used to assess the research abilities of students and the outcomes of the application of

practices include locating and using information that . It may include

onomic problem, a variety of modes. Regardless of the

must be adhered to. These assessments e.

de:

dary data/information ata from a variety of sources

nd analysis of data/information — examining relevance, validity and value n

arch conclusions with justifications

t evaluation.

nclude:

r arch assignment

arch

ns.

s. Whatever he research process.

sponses may also be presented as spoken or multimodal responses. Teachers that the full range of general objectives and standards is possible when using spoken or

ts or supporting documentation, such as visual evidence where applicable, any other documentation, including the instrument specific standards marked and

y the teacher, will be required to substantiate decisions, but the student spoken or multimodal he focus for assessment decisions. Some techniques will require students to present to an

audience (e.g. speech), while others may be presented through the use of technology. Spoken and multimodal techniques include:

interview speech PowerPoint presentations video evidence debate seminar

that research.

Brief description:

This instrument is based on research practices. These goes beyond the data that students have been given and the knowledge they currently havethe generation of primary data and/or the use of secondary data.

The research process is iterative. It is based on the exploration of a research purpose (ecquestion or issue). A research assessment may be presented inmode of presentation research conventions (e.g. referencing)occur over a period of time and use in class and often students’ own tim

Most research assessments will follow an inquiry approach and inclu

the establishment of a research question or economic problem the generation and/or collection of primary and/or secon student independent collection of information/d the sorting a synthesis of data/informatio development of rese

it may also include:

tion of a product crea a post produc

Research responses i

tical exposition Analy Essay Magazine article Pape Rese

Report Research report Experimental investigation Project

Folio Journal

Product design rese Other Action research — integrated task

What dimensions will be assessed through this instrument?

Knowledge and understanding Investigation Synthesis and evaluation

Specific guidance to the techniques that should be used. May include some conditio

Some research techniques may be presented using other modes or combination of moderesearch technique is used it is necessary that the students are able to demonstrate t

essment reResearch ass must ensure

multimodal techniques. Scripnotes, palm cards, annotated bresponse is t


response may be te tables of data, diagrams and flowcharts. The response

ent or informative text.

al article

ypothesis y be in

various sources including case study or outcomes. A report will normally be presented with section headings. It will often

hs or diagrams and the analysis of statistical data.

rts and achievements riety of information, ideas and working

cesses. It should contain decisions ma asons or justifications for these (e.g. in a training journal, justifications provided based on data for program modifications). Evidence of research,

Possible types of research assessments:

Analytical exposition: Students provide a response to a specific question or issue. The supported by references or where appropriacould be a persuasive argum

The response could be: economic journ feature article persuasive essay argumentative essay speech, presentation, seminar

Report: In the report, the student would make some form of decision regarding the question, hor issue under investigation and support the decision with logical argument. The report ma

servations made and conclusions drawn fromresponse to obstudies or experimental include tables, grap

The response could be: research report primary data report

Folio: This is a purposeful collection of work that helps to define the student’s effoin a specified area. The folio can be used to document a vapro de and re

including the collection and sorting of data, must be included.

Year 11 Year 12

Analytical exposition, essay, 800– 3–4 minutes for spoken and supporting

1000 ord sition, essay, 1 4–5 minutes for spoken and supp

w s Analytical expo

documentation 3–5 minutes multimodal presentation a

supporting documentation

ns)

000–1500 words orting

esentation and supporting documentation

ata analysis, discussion, recommendations and conclusions)

ysis,

nd documentation

5–7 minutes multimodal pr

Report, 800–1000 words (data analysis, discussion, recommendations and conclusio

Report, 1000–1500 words (d

Folio, 800–1000 words (data analysis, Folio, 1000–1500 words (data analdiscussion and conclusions) discussion and conclusions)

What must teachers do when planning for a research assessment? What informatprovided to students about research assessments?

ion must be

Teachers provide the focus for the research or works in conjunction with the student to Teachers must allow class time for students to be able to effectively undertake each comp

research assessment. However, independent student time will be required to complete the task.

develop one. onent of the

trategies are servation

dents are work. Feedback

opment of student

for the first ess and skills a series of

uced from Year 11 to Year 12 to allow the student to better demonstrate independence in the research process. When a research assessment technique is revisited (most likely in Year 12), the scaffolding should be reduced and could be a series of generic questions.

Teachers should provide students with learning experiences in the use of appropriate communication strategies, including the generic requirements for presenting research (e.g. research report structures, referencing conventions).

Teachers should inform the students and indicate on the assessment what dimensions will be assessed and inform students about the instrument-specific standards.

Teachers must implement strategies to ensure authentication of student work. Some sannotated notes in response to issues that emerged during research, drafting, teacher obsheets, research checklists, referencing, and reference lists.

Teachers must consult, negotiate and provide feedback before and during the time the stuworking on the research assessment to provide ethical guidance and to monitor studentand assistance should be provided judiciously, gradually being reduced with the develexperience and confidence.

Teachers must provide scaffolding. When research assessment technique is undertakentime, the scaffolding should help students complete the assessment by modelling the procrequired. However, the scaffolding provided should not specify or lead the student throughsteps dictating a solution. Scaffolding should be red

5.6 Requirements for verification


folio

uments on r semesters

in the range and mix of assessment techniques for making

nt instruments

udent responses for:

sed at least three times

ust be a short response — prose

performance on those tasks

nts as outlined in 5.5 for each assessment instrument

and verification submissions schools should

t

ment information gathered after verification in making judgments urth

t t least dimensions 2 and 3.

rd student achievement over the four-semester ofile include:

assessment instruments in each semester

standard achieved in each dimension for each instrument

instruments used for summative judgments

interim level of achievement at monitoring and verification.

A verification folio is a collection of a student’s responses to assessment instrwhich the level of achievement is based. For students who are to exit with fouof credit, each folio must contasummative judgments stated below.

Student verification folios for Economics must contain:

a minimum of four and a maximum of six assessme

Each sample student folio must contain st

each dimension asses

one research assessment

must be written

two supervised written assessments

one m

one must be extended written response in response to stimulus with an unseen question

student profile, which is a summary of the student’s included in the folio.

Verification submissions must also contain:

a copy of the school’s approved work program

assessment instrument requireme

For information about preparing monitoringrefer to <www.qsa.qld.edu.au> (select Years 10–12 > Moderation > Forms andprocedures).

5.6.1 Post-verification assessmen

Schools must use assessabout exit Levels of Achievement for those students who are completing the fosemester of the course of study. For this syllabus students are to demonstrate achievemenin an instrument assessing a

5.6.2 Student profile

The purpose of the student profile is to recocourse of study. Key elements on the pr

semester units/themes/topics

5.7 Exit standards


nt at exit as the

ribe how well students es and are stated in the standards matrix.

ge and understanding

Each dimension must be assessed in each semester, and each dimension is to make an chievement.

5.8

he school is required to award each student an t from one of the five levels:

nt (VHA)

xit the course after four semesters. For these students, judgments

idence of achievement in relation to all general ndards.

bout exit

e student’s ns that it is not

e met every descriptor for a particular standard in each dimension.

When standards have been determined in each of the dimensions for this subject, the following table is used to award exit levels of achievement, where A represents the highest standard and E the lowest. The table indicates the minimum combination of standards across the dimensions for each level.

The purpose of standards is to make judgments about student levels of achievemefrom a course of study. The standards are described in the same dimensionsassessable general objectives of the syllabus. The standards deschave achieved the general objectiv

The following dimensions must be used:

Dimension 1: Knowled

Dimension 2: Investigation

Dimension 3: Synthesis and evaluation

equal contribution to the determination of exit levels of a

Determining exit levels of achievement

When students exit the course of study, texit level of achievemen

Very High Achieveme

High Achievement (HA)

Sound Achievement (SA)

Limited Achievement (LA)

Very Limited Achievement (VLA).

Exit levels of achievement are summative judgments made when students eof study. For most students this will be are based on exit folios providing evobjectives of the syllabus and the sta

All the principles of exit assessment must be applied when making decisions alevels of achievement.

5.8.1 Determining a standard

The standard awarded is an on-balance judgment about how the qualities of thwork match the standards descriptors overall in each dimension. This meanecessary for the student to hav


t

A Standard A in any two dimensions and no less than a B in the remaining dimension

Awarding exit levels of achievemen

VH

HA imension Standard B in any two dimensions and no less than a C in the remaining d

SA and no less than a D in the remaining dimension Standard C in any two dimensions

LA o dimensions At least Standard D in any tw

VLA Standard E in the three dimensions

Some students will exit after one, two or three semesters. For these students, are based on folios providing evidence of a

judgments chievement in relation to the general objectives

scriptors related to

www.qsa.qld.edu.au> (select Years 10–12 > Moderation and quality assurance > Forms and procedures (scroll to Additional guidelines and procedures).)

of the syllabus covered to that point in time. The particular standards dethose objectives are used to make the judgment.

Further information can be found at <

Standards matrix Dimension A B C D E

The student work has the following characteristics:

thorough and accurate description of economic facts, concepts, principthe structure and operatieconomic mode

termles

oar

as

tion fact

ples nd op

ic modenom

o

of e, co

deng c

al desomic terms, facts, p s

udent work has the ng characteristics:

tement of economic terms, facts or concepts s,

nd f

y

rk hfollowing characteri

accurate descripeconomic terms,concepts, princithe structure aof econom

, an oiet

variety of ecocontexts

ls in a vof economic contexts

The student wo s the s

The studentic :

of s, and eration

t wfollowing chara

description terms, factsprinciples an

ls in a ic

structure and economic mod

rk has the The stucteristics:

conomic ncepts,

followin

partiecon

d the operation of els

conce

t work has the r

The ha acteristics:

cription of

stfollowi

sta

t or principles

systematic application thorough explanation, links and using exampeconomic techniques, concep s, mod

and mal

rne

detailing

nce

ifmati

on, usies of ec

s, ls, patterns, rities annces i

ormation

tial applecon mi

p

tatement of economic techniques, concepts,

ls or information kin

es of

s, s in similarities and d

in data and infor

g application and

explanation, usexamples of ecotechniques, conmodels, patterns, t els, patte

similarities and differencdata and information

ed

ic ,

applicatiexampltechniqumode

ompts

ferences on

similadiffereinf

ng simple onomic

par

e concepts,

d n data and

conceinformation

ication of so c techniques,

ts, models or mode

Kn

ow

led

ge

and

un

der

stan

din

g

ide range of approp

ic

nt use of a range of appropriat co ventions

on

use of appropriaconventi s of

t

frequent laappropriate conventions

mm

uent lapses in appropriate conventions of communication that impedes understanding

sustained control of a wriate ommunconventions of c ation of communic

consistee ati

n te

onica

icommun on of co

pses in freq

unication

The student work has thefollowing characteristics

disc

:

erning selection, thorouand coherent organisatdata and information frcomprehensive varietysources

gh of a

selection and corganisation ofinformation froof sources

ionmof

haacteristics:

oher dam a

o

nd n f

ng char

ati

work has the ng characteristics:

on of data or mation

o

The student work following char

s th

ent ta and variety

selection aorganisatioinformation

e The student wfollowing char

rk

of data and rom sources

followi

selectiorganisinforma

has the acteristics:

The student work has the acteristics:

on and tion of data or on

The student followi

selectiinfor

thorough examination ofor completeness, relevaccuracy and bias to determine validity

f dance

natietenesuracy

ermine val

n ess, nd b

ne valid

or co r ance

imentary examination of data

ata ,

detailed examidata for complrelevance, accbias to det

on of s, and idity

examinatiocompletenaccuracy adetermi

of data for relevance, ias to ity

simple edata frelev

xamination of mpleteness o

rud

Inve

stig

atio

n

analysis of complex economic relationships through the reasoned interpretation of patterns, data and information

analysis of economic relationships through the interpretation of patterns, data and information

analysis of economic relationships through the identification of patterns, data and information

identification of economic relationships from economic data or information

statement of economic relationships



e :

of ic ide

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statement of economic erstanding using ded viewpoints, omic ideas or ons

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discerning use of a comprehensive varietviewpoints, economand decisions to concomplex and substanti

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understanding st

economic understandi

The student wofollowing chara

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s the ics:

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variety of economic idecisions t

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rk has the teristics:

The stufollowinc

w oints, and

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wa

consund

t work has the aracteristics:

The folloh

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ng relevant subject matter to enhance economic meaning

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communication of aspects of economic meaning using provided subject matter

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6. Language education

ies to use the riate to their own subject areas. Their responsibility entails

in the various forms (such inar presentations)

e of language.

d therefore not only with equipping students g them

nres:

es, film, cartoons ions technologies.

nships.

r own.

eachers of Economics should tive communication through

oping student abilities to:

and hear

can be used to exercise power

ns, er feature articles, reports, public speeches) and genres (e.g. argumentative,

ventions related to grammar, spelling, punctuation and layout

use conventions applicable to maps, diagrams, graphs, statistics and acknowledging sources.

Students should be assessed using instruments that are familiar in textual features and complexity of language.

It is the responsibility of all teachers to develop and monitor student abilitforms of language appropdeveloping the following skills:

ability in the selection and sequencing of information required as reports, essays, interviews and sem

the use of technical terms and their definitions

the use of correct grammar, spelling, punctuation and layout.

Assessment in all subjects needs to take into consideration appropriate us

Language education in Economics is concernewith the skills to communicate effectively in suitable genres but also with helpindevelop a critical awareness of language use.

Economics requires students to understand and use language in a variety of gespoken, written, visual, diagrammatic and mathematical. This language may be located in a range of texts including books, journals, newsprint, reports, laws, speechand presentations of various types of media and information communicatEach language setting has its own conventions and its own vocabulary to which students need to be sensitised. Language can also be used to establish power relatioStudents should therefore be involved in learning experiences that require them to comprehend and analyse these genres as well as compose responses of thei

As the learning of language is a developmental process, tplan for the development of the skills necessary for effecEconomics in the senior school. This responsibility entails devel

understand what they read, view

use language effectively when writing, creating and speaking

be critically aware of the way language

use economic terminology accurately

use the conventions of particular text types (e.g. essays, seminar presentationewspapanalytical, persuasive and expository writing)

use language con


7. Quantitative concepts and skills

pends on the development

erms underpinning the areas of number, space,

aic forms, diagrams,

ther.

and other topics. Topics in Economics may provide a basis

, such as to r to

arn through the strategies and approaches to tasks which are appropriate to

imulate their erating

other mathematical concepts and skills, mists also use

ckages to plications are

The distinctive nature of economics may require that new mathematical concepts be introduced and new skills developed for some students. All students need opportunities to practise the quantitative skills and understandings they have developed previously. Within suitable learning contexts and experiences, opportunities are to be provided for the revision, maintenance, and extension of such skills and understandings.

Success in dealing with issues and situations in life and work deand integration of a range of abilities, such as being able to:

comprehend basic concepts and tprobability and statistics, measurement

extract, convert or translate information given in numerical or algebrmaps, graphs or tables

calculate, apply procedures including mathematical formulae and equations

use calculators and computers

use skills or apply concepts from one problem or one subject domain to ano

Economics may focus on the development and application of numericalmathematical concepts and skills in somefor the general development of such quantitative skills or have a distinct aimprepare students to deal with the quantitative demands of their personal lives oparticipate in a specific workplace environment.

Students should be encouraged to develop their understanding and to leincorporation of mathematicaleconomics. Similarly, students should be presented with experiences that stmathematical interest and hone those quantitative skills that contribute to opsuccessfully in senior schooling.

Economists use a variety of numerical andespecially those relating to graphs and tables, statistics and maps. Econoinformation communication technologies including databases and software pamanipulate and represent economic data and concepts. Examples of these apthe tasks associated with economic forecasting.


8. Educational equity

ork programs from this syllabus, schools

eets their needs le and

dents to equitable

eachers should emale students;

tudents from h-speaking backgrounds; students with disabilities; students with gifts and

economic

ons and eeds and

riences and

rage the yles.

nd terials

xperiences of

to be st ways

ariety of ckgrounds to

standards stated in this ensions and standards should be applied in the same way to all students.

uthorities, ing resources useful for devising an inclusive work program:

t Quality and Equity, available from

Training Products

cedures

atholic schools in Queensland, available from <www.qcec.qld.catholic.edu.au>.

QSA 2009, Policy on Special Provisions for School-based Assessments in Authority and Authority-registered subjects; and 2006, QSA Equity Statement, available from <www.qsa.qld.edu.au>.

QSCC 2001, Equity considerations for the development of curriculum and test material, available from <www.qsa.qld.edu.au>.

Equity means fair treatment of all. In developing wshould incorporate the following concepts of equity.

All young people in Queensland have a right to gain an education that mand prepares them for active participation in creating a socially just, equitabdemocratic global society. Schools need to provide opportunities for all studemonstrate what they know and can do. All students, therefore, should haveaccess to educational programs and human and physical resources. Tensure that particular needs of the following groups of students are met: fmale students; Aboriginal students; Torres Strait Islander students; snon-Englistalents; geographically isolated students; and students from low sociobackgrounds.

Subject matter chosen should include, whenever possible, the contributiexperiences of all groups of people. Learning contexts and community naspirations should also be considered. In choosing appropriate learning expeteachers can introduce and reinforce non-racist, non-sexist, culturally sensitive unprejudiced attitudes and behaviour. Learning experiences should encouparticipation of students with disabilities and accommodate different learning st

Resource materials used should recognise and value the contributions of both females amales to society and include social experiences of both genders. Resource mashould also reflect cultural diversity within the community and draw from the ethe range of cultural groups in the community.

To allow students to demonstrate achievement, barriers to equal opportunity need identified, investigated and removed. This may involve being proactive in finding the beto meet the diverse range of learning and assessment needs of students. The vassessment techniques in the work program should allow students of all bademonstrate their knowledge and skills related to the dimensions andsyllabus. Syllabus dim

Teachers should consider equity policies of individual schools and schooling aand may find the follow

ACACA 1995, Guidelines for Assessmen<www.acaca.org.au>.

ANTA 2004, A guide to equity and the AQTF, available from AustralianLtd <www.atpl.net.au>.

EQ 2005, Inclusive education statement; and 2005, Education Policy and ProRegister: Inclusive education, available from <http://education.qld.gov.au/strategic/eppr>.

QCEC 2009, Inclusive practices in C

http://education.qld.gov.au/strategic/eppr/

http://www.qcec.qld.catholic.edu.au/

http://www.qsa.qld.edu.au/


9. Resources

rces of available. Book suppliers provide information regarding

s.

ed to enhance a course in Economics and clude:

u>

COSS: <www.acoss.org.au>

.actu.org.au>

www.afr.com.au>

.gov.au>

.com.au>

ov.au>

eachers Association: <www.qeta.com.au>

www.rba.gov.au>

irs and Trade: <www.dfat.gov.au>

Outlook updates: <www.anz.com.au>

egular pages, columns and features about Economics. Local a source of useful data. The compilation of news files on particular

ge base of students and provide a valuable source of material for developing assessment instruments.

Australian Economic Indicators Reserve Bank of Australia

Reserve Bank Bulletin

The Australian newspaper

The Financial Review newspaper

Text and reference books

A wide variety of textbooks and resource materials that could be used as souinformation about Economics are current publication

Worldwide web

Many interactive and static websites can be usoften include useful resources. Some particularly useful sites in

Australian Bureau of Statistics: <www.abs.gov.a

Australian Council of Social Service — A

Australian Council of Trade Unions: <www

Australian Financial Review: <

Commonwealth Government: <www.aph

Austrade: <www.austrade.gov.au>

Australian Stock Exchange: <www.asx

International Monetary Fund: <www.imf.org>

OECD: <www.oecd.org>

Queensland Government: <www.qld.g

Queensland Economics T

Reserve Bank of Australia — RBA: <

Australian Treasury: <www.treasury.gov.au>

United Nations: <www.un.org>

World Trade Organisation: <www.wto.org>

Dept of Foreign Affa

ANZ Bank for Economic

Learning Place — VSS students: <http://elearn.eq.edu.au>

BIS Economic Outlook: <www.bis.com.au/reports/economic_outlook>

Newspaper reports

Many newspapers carry rnewspapers can also be topics can broaden the knowled

http://www.actu.org.au/

http://www.aph.gov.au/

http://www.asx.com.au/

http://www.oecd.org/

http://www.qld.gov.au/

http://www.qeta.com.au/

http://www.rba.gov.au/

http://www.treasury.gov.au/

http://elearn.eq.edu.au/

http://www.bis.com.au/reports/economic_outlook

Periodica


ls

de current, relevant information. Journals and periodicals y include:

azine

vide assistance with identifying and locating other

variety of topics Ms may be

access to information ational

ibutors are able to supply updated resource lists.

orners” “Landline” often contain suitable

l, advice, resources ssist in constructing and implementing a course in Economics. Some of

these include:

Queensland Economics Teachers’ Association Inc, PO Box 254, Red Hill 4059. <www.qeta.com.au>

Journals and periodicals provirelevant to Economics ma

The Economist mag

The New Internationalist

School librarians should be able to prouseful periodicals.

Electronic media and learning technology

A wide range of videos, DVDs and television recordings are available on arelated to Economics. A variety of computer software programs and CD-ROuseful for a course in Economics, both as learning tools, to gain presented in a variety of forms and to assist students in gaining ICT skills. Educprogram distr

Television programs such as “Dateline”, “Four Ccourse items.

Organisations and community resources

A variety of government and community organisations provide personneand information to a


10. Glossary

e text and (written,

xts, ferencing), vocabulary, spelling, punctuation,

sentence construction.

term economic information or information is used throughout the syllabus the encompas minology, and principles, data and inquiry

Conventions of communication

The rules that govern the way we write and speak, suitable to the purpose of ththe audience it is intended for (e.g. formal or informal language). Includes modespoken, visual, multimodal), genre (accepted patterns and conventions for presenting tee.g. the format for a written report, including regrammar, cohesion, Economic information

When theterm processes.

ses economic ter facts, concepts

Term Syllabus context Interpretation

accurate y free from error

accurate description careful and precise use, relativel

analysis mic inform and examine constituent onships

analysis of econo ation dissecting to ascertainparts and/or their relati

appraisal eas u evaluate: appraise economic idimplicit or explicit criteria

sing evaluation, judgment, review; assigning merit according to criteria

coherent organisation of data logical, rational, connection of ideas

complex construct complex meaning ore than one part that may be interrelated, s mmultifaceted

comprehensive nts, econom nstrates a range that ding, meaning or

significance

variety of viewpoi ic a broad coverage, demoideas and decisions will promote understan

criteria appraise economic ideimplicit or explicit criteri

as ua

haracteristic by which something is judged or appraised

sing property, dimension or c

detailed quality descriptor usstandard at exit

ed for a sive B meticulous and comprehen

discerning poinnd decisions

and astute choices use of a variety of vieweconomic ideas a

ts, making thoughtful

explanation ing king links

ndable by giving detail, presenting a meaning with clarity, precision,

depth of explanation usexamples and ma

to make understa

completeness

explicit ng clear, overt, open, unequivocal appraise economic ideas usiimplicit or explicit criteria

implicit appraise economic ideas uimplicit or explicit criteria

sing understood, implied, inherent

systematic application of economic techniques, concepts, models, patterns, similarities and differences in data and information

methodical, orderly, regular, efficient

thorough quality descriptor used for an A standard at exit

methodical and detailed, including important information and discarding superfluous

Queensland Studies Authority154 Melbourne Street South BrisbanePO Box 307 Spring Hill QLD 4004 AustraliaT +61 7 3864 0299F +61 7 3221 2553

www.qsa.qld.edu.au

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