Survey on the New Academic Structure for - hkedcity.net334.edb.hkedcity.net/doc/eng/schoolsurvey_medium_term2/Q_Econ_E… · New Academic Structure Medium-term Review ... stakeholders

ECONOMICS Page 1 of 16

Continual Renewal from Strength to Strength

New Academic Structure Medium-term Review and Beyond

Subject-level

Purpose and Design of the Questionnaire

The purpose of this questionnaire is to solicit views of the subject panel heads and teachers on the initial recommendations

at the subject level, as part of the New Academic Structure (NAS) Medium-term Review ongoing consultation (with this

School Survey ending on 6 January 2015). In parallel, a designated website will be in operation from 24 November

2014 to 28 February 2015 to receive views and comments on NAS from a wider range of stakeholders, as well as

through different sources and channels. The feedback collected will be consolidated, in conjunction with the feedback

collected from other stakeholders and sources, to inform deliberations at the Joint Curriculum Development Council–Hong

Kong Examinations and Assessment Authority Public Examinations Board (CDC–PEB) meeting on the last batch of

recommendations to be announced in July 2015. Subject panel heads and teachers are advised to exchange their

views, and may also make reference to the School Leaders Questionnaire, before responding to the questions. Your

views are welcome even if your school does not offer this subject. This questionnaire is designed to encompass the major

principles, current implementation issues, considerations and recommendations without overloading the respondents. The

items are by no means exhaustive, and views on those that are not included can be collected through other channels, e.g.

written submissions, briefings, forums and interviews. Subject panel heads and teachers are also welcome to express their views under ‘Other comments’ in this questionnaire.

Background

In 2000, the Government accepted the Education Commission's proposal to reform the education system of Hong Kong to

enable our students to succeed in the knowledge-based, constantly changing and increasingly globalised world. The

Learning to Learn reform was then launched in 2001/02 first in basic education, followed by the reform of senior secondary

education under the NAS in 2009/10. Building on the overall aims for whole-person development and life-long learning

in the basic education curriculum, the senior secondary curriculum continues to pursue the seven learning goals for our

students:

1.To be biliterate and trilingual with adequate proficiency

2.To acquire a broad knowledge base, and be able to understand contemporary issues that may impact on daily life at personal,

community, national and global levels

3.To be informed and responsible citizens with a sense of global and national identity

4.To respect pluralism of cultures and views, and be critical, reflective and independent thinkers

5.To acquire information technology and other skills as necessary for being life-long learners

6.To understand their own career/academic aspirations and develop positive attitudes towards work and learning

7.To lead a healthy life-style with active participation in aesthetic and physical activities

Owing to the changes and developments, e.g. economic, scientific, technological, since the last decade around the world, the curriculum renewal of Learning to Learn 2.0 is conceived with a view to keeping our school education abreast of the times so that our students will remain globally competitive in the future. Such renewal has commenced first in primary education and will lead up to junior secondary and senior secondary education. The Basic Education Curriculum Guide (Primary 1 – 6) in the context of Learning to Learn 2.0 can be found at the Education Bureau (EDB) website https://cd.edb.gov.hk/becg/.

Guiding Principles

Following the completion of the Short-term Review in April 2013 and announcement of 1st batch of recommendations of the

Medium-term Review in April 2014, the NAS Medium-term Review continues to adopt a student-centred approach and the

guiding principles below:

Gear all curricula towards achieving the overall learning goals for secondary education;

Keep abreast of the latest changes in the disciplines of knowledge, economic, social and technological contexts, etc. with

regular international benchmarking and recognition;

Strike a balance between breadth and depth in knowledge, skills, positive values and attitudes in school curricula appropriate

to secondary education and interface with further studies;

Cater for student diversity and build on strengths (e.g. personal effort, subject interest, teaching method, and curriculum

content are recognised by students as most important factors for success in senior secondary education);

Consider factors and concerns regarding implementation (e.g. workload of teachers and students, support to teachers);

Align assessment with curriculum aims, learning objectives, curriculum design and expected learning outcomes; and

Engage different stakeholders and consider the feedback collected from different sources to inform deliberations in relevant

Economics


CDC and Hong Kong Examinations and Assessment Authority (HKEAA) committees.

Return of Questionnaires

For each subject, schools are expected to return ONE questionnaire only. The panel head should consolidate all views on

this questionnaire and return it to the Principal/coordinator, who will collect all relevant Subject Level Questionnaires

and return them together with the School Leaders Questionnaire by hand using the self-addressed envelope enclosed, to

the Council and Secondary Section of the EDB (Room 1302, 13/F, Wu Chung House, 213 Queen’s Road East, Wanchai,

Hong Kong) on or before 6 January 2015. For general enquiries, please contact Ms. Stephanie LAW at 2892 6381. For

enquiries on implementation, and future development in the medium-term and beyond, please contact Ms. WONG Kam-fung

at 2892 6513. All information provided will be kept strictly confidential and will only be used for the purpose of the NAS Review. No information on individual schools/teachers will be revealed.

Structure of the Questionnaires

As the senior secondary curriculum is built upon the basic education curriculum, the NAS Review should be contextualised

within the 6-year whole-school secondary curriculum. Each questionnaire consists of:

Updates on the implementation of curriculum and assessment at the junior and senior secondary levels and the interface

between the two; and

Recommendations on curriculum and assessment for the medium-term and beyond.


School Name: _________________________________________________ School Number:

Name of Contact Person: ______________________________ (Tel) _________________

ECONOMICS

Background

The NAS medium-term review is conducted by the EDB, CDC and HKEAA to address issues that require a longer time and a more

holistic process of review and consultation.

In response to the feedbacks of various stakeholders received from the short-term review of the Economics Curriculum and

Assessment and focus groups etc., we would like to collect views of teachers on the following proposed recommendations:

(i) updating relevant curriculum contents to align with the revised practices adopted by the Census and Statistics Department,

HKSAR (C&SD); and

(ii) not implementing SBA, a compulsory data-response question will be set in the public examination to address certain learning

outcomes originally covered by the SBA.

There is a briefing session to explain the proposed recommendations and to collect feedback. Please refer to the Training

Calendar System for details.

Views collected from this questionnaire, together with views collected from the School Leaders Questionnaire, and other views

collected through focus group meetings, briefing sessions, liaison meetings, written submissions etc. from all relevant stakeholders,

will be consolidated to inform deliberations on the recommendations for the medium-term and beyond, and to map out plans and

strategies for the development of the subject in a holistic manner.

Please blacken the appropriate circle. State your comments and provide information in the

space provided when necessary.

1. Background Information: Please indicate the provision of this subject in your school:

○This subject is offered in the 2014/15 school year and/or was offered in previous school year(s)

○This subject has not been offered


(A) Implementation of Curriculum and Assessment

2. Do you agree that the following measures are effective in preparing junior secondary students to study this subject at the

senior secondary level in your school?

Interface Measure Strongly

agree

Agree Disagree Strongly

disagree

N/A

(A) Curriculum planning for vertical (6-year) continuity ○ ○ ○ ○ ○

(B) Providing a solid knowledge base for junior secondary students

to study this subject at the senior secondary level ○ ○ ○ ○ ○

(C) Enabling junior secondary students to master the relevant generic

skills (e.g. creativity, communication skills) to study this subject

at the senior secondary level

○ ○ ○ ○ ○

(D) Nurturing positive values and attitudes in students to enable them

to study this subject at the senior secondary level ○ ○ ○ ○ ○

(E) Adopting suitable assessment and reporting methods at the junior

secondary level by making reference to assessment practices at

the senior secondary level (e.g. School-based Assessment (SBA))

in this subject

○ ○ ○ ○ ○

.

3. Do you agree that the curriculum of this subject contributes to students’ achievement of the seven learning goals of senior

secondary education in your school?

Learning Goal Strongly

agree


disagree

N/A

(A) To be biliterate and trilingual with adequate proficiency ○ ○ ○ ○ ○

(B) To acquire a broad knowledge base, and be able to understand

contemporary issues that may impact on daily life at personal,

community, national and global levels

○ ○ ○ ○ ○

(C) To be informed and responsible citizens with a sense of global

and national identity ○ ○ ○ ○ ○

(D) To respect pluralism of cultures and views, and be critical,

reflective and independent thinkers ○ ○ ○ ○ ○

(E) To acquire information technology and other generic skills as

necessary for being life-long learners ○ ○ ○ ○ ○

(F) To understand their own career/academic aspirations and develop

positive attitudes towards work and learning ○ ○ ○ ○ ○

(G) To lead a healthy lifestyle with active participation in aesthetic

and physical activities ○ ○ ○ ○ ○

.

Not

Applicable


4. Do you agree that students achieved the curriculum aims of this subject upon completion of their secondary education in

your school?

Curriculum Aim Strongly

agree Agree Disagree

Strongly

disagree N/A

(A) Develop an interest in exploring human behaviour and social

issues through an economic perspective ○ ○ ○ ○ ○

(B) Understand the world in which they live through mastery of

basic economic knowledge ○ ○ ○ ○ ○

(C) Enhance their general intellectual capacity for life-long learning,

through developing their capacities in economic analysis, so that

they possess the skills necessary for reasoning about issues and

making rational choices

○ ○ ○ ○ ○

(D) Participate as informed and responsible citizens in the

decision-making processes of a modern democratic society

5. Building on the school curriculum offered in basic education curriculum, do you agree that the following strategies are

implemented effectively through this senior secondary subject in your school?

Strategy Strongly

agree


disagree

N/A

(A) Moral and civic education (including the seven priority values

and attitudes, e.g. perseverance, respect for others) ○ ○ ○ ○ ○

(B) Reading to learn (e.g. reading across the curriculum) ○ ○ ○ ○ ○

(C) Project learning (e.g. investigative and design projects) ○ ○ ○ ○ ○

(D) Information technology for interactive learning (e.g. e-learning

and mobile learning) ○ ○ ○ ○ ○

(E) Assessment for learning ○ ○ ○ ○ ○


6. Do the following factors have positive or negative effects on the implementation of the subject curriculum in your school?

Factor

Strong

positive

effect

Positive

effect

Negative

effect

Strong

negative

effect

N/A

System/School Factor

(A) Lesson time allocated by school to this subject ○ ○ ○ ○ ○

(B) Requirements of public examination ○ ○ ○ ○ ○

(C) Workload of SBA ○ ○ ○ ○ ○

(D) Leadership of the school management ○ ○ ○ ○ ○

(E) Availability of learning and teaching resources ○ ○ ○ ○ ○

Teacher Factor

(F) Curriculum planning across the junior secondary and senior

secondary levels ○ ○ ○ ○ ○

(G) Curriculum adaptation to cater for learner diversity ○ ○ ○ ○ ○

(H) Adopting different pedagogies to cater for learner diversity ○ ○ ○ ○ ○

(I) Implementation of assessment for learning ○ ○ ○ ○ ○

(J) Collaboration among teachers of this subject ○ ○ ○ ○ ○

(K) Collaboration among teachers across subjects/ Key Learning

Areas ○ ○ ○ ○ ○

(L) Professional capacity of teachers ○ ○ ○ ○ ○

Student Factor

(M) Motivation of students (including personal interests) ○ ○ ○ ○ ○

(N) Knowledge foundation of students developed at the junior

secondary level ○ ○ ○ ○ ○

(O) Peer influence ○ ○ ○ ○ ○

(P) Parental involvement ○ ○ ○ ○ ○

.

7. Other comments:


(B) Recommendations for the Medium-term and Beyond

This section collects views of subject panel heads and teachers on the recommendations for future development of the senior

secondary curriculum and assessment. Some of the recommendations are proposed to be implemented with a specific time frame

while others serve to set the direction for future exploration and discussion. The time frame for each recommendation is clearly

indicated in the respective items.

Curriculum

(Teaching at S4 in the 2015/16 school year, leading to the 2018 HKDSE Examination)

The C&SD revised some practices in compiling the GDP statistics in 2012. The resulting inconsistencies in the terms adopted in

the Economics Curriculum and Assessment Guide (S4-S6) and C&SD may affect the use of local authentic data in the learning,

teaching and assessment in Economics. To address this issue, the CDC-HKEAA Committee on Economics proposed the following

for teachers’ comments.

8. Under Topic F (Measurement of Economic Performance),

the subtopic “Gross Domestic Product-GDP at current and constant market prices” would be

revised to “Gross Domestic Product-nominal GDP and real GDP”.

○ Agree

○ Disagree

○ No opinion

Other comments: ___________________________________________________________________________________

_________________________________________________________________________________________________

Remark: The C&SD has adopted the method of chain volume measures to compile the data of real GDP. Teachers are

advised to introduce the concept of chain volume measures of GDP to students to enhance their skill of interpreting local

authentic data. Students are NOT expected to grasp the respective compilation method.

9. Under Topic F (Measurement of Economic Performance),

the subtopic “GNP as GDP plus net income from abroad” would be

revised to “GNI as GDP plus net income from abroad” (Note: GNI = Gross National Income)

○ Agree

○ Disagree

○ No opinion

Other comments: ___________________________________________________________________________________

_________________________________________________________________________________________________

Remark: The C&SD has adopted the term “net external primary income flows” to represent “net income from abroad”.

Teachers are advised to introduce the term “net external primary income flows” to students to enhance their understanding

of the local authentic data.


Public Assessment: School-based Assessment (SBA) and Public Examination

Original Plan of SBA after the Short-term Review: In the NAS short-term review, the SBA of Economics was streamlined and

deferred to 2019 HKDSE Examination. Students are required to submit two news commentaries/essays and each task accounts for

7.5% of the total subject mark.

Revised Plan proposed in the Medium-term Review:

Not implementing SBA, a compulsory data-response question (similar to the format of the sample question in Annex 1) will be set

in Paper 2 Section B to address certain learning outcomes originally covered by the SBA. The arrangement of the public

examination would be revised as follows:

Item Existing arrangement New arrangement

(i) Weighting of the total subject marks Paper 1: 25%

Paper 2: 60%

SBA: 15%

Paper 1: 30%

Paper 2: 70%

(ii) Examination time of Paper 2 2.25 hours 2.5 hours

(iii) The maximum mark of Sections A, B and C in

Paper 2

A: 50 marks

B: 54 marks

C: 16 marks

A: 44 marks

B: 60 marks

C: 16 marks

For details, please refer to the proposed Assessment Framework in Annex 2.

Rationale: Some skills assessed in the SBA of this subject overlap with the IES of Liberal Studies, while other skills to be assessed

can be incorporated into the written paper Section 2B by setting questions with the element of news commentary/policy evaluation.

The proposed revised plan has similar backwash effect as the SBA, that is, to encourage learning and teaching of economic inquiry

which requires students to apply concepts/theories in an integrated manner.

Schools are being consulted regarding the SBA implementation plan for the deferred subjects. Details are provided in the School

Leaders Questionnaire. Panel heads should confer with the principal and relevant teachers, and indicate their views in question 7.2

of the School Leaders Questionnaire.

10. Regarding the implementation of SBA in this subject, which of the following options do your prefer?

○ Original Plan: Implementing the streamlined SBA

○ Revised Plan: Not implementing SBA, a compulsory data-response question (as stated above) will be set in

Paper 2 Section B.

○ No opinion

Other comments (including views on details of the Revised Plan): ____________________________________________

_________________________________________________________________________________________________


11. Suggestions for the future development of the curriculum of this subject:

12. Suggestions for the future development of the public assessment of this subject:

– The End –

Thank you very much!


Hong Kong Diploma of Secondary Education Examination

Economics

Sample Question

Total marks: 26 marks

Recommended time: 45 minutes

The housing problem has long become one of the most concerned socio-economic problems in Hong Kong. The drastic increase in

property and rental prices is the major concern.

Source A: Extracted from the 2014 Policy Address about housing

… The public has also reached a consensus gradually on the measures proposed by the government to increase land supply. The

Government has adopted a two-legged approach to increasing the supply, while at the same time reducing external, investment and

speculative demands…

Source B: The following table summarizes the additional stamp duties imposed on the transaction of residential flats.

Type People liable Additional tax charged Date of

implementation

Special

stamp

duty

(SSD)

Any individual who

transfers any

residential flat within

36 months after

purchase

(i) 20% of the value of the flat if the property

has been held for 6 months or less;

(ii) 15% if the property has been held for more

than six months but for 12 months or less;

(iii) 10% if the property has been held for more

than 12 months but for 36 months or less.

2012 October 27

Buyer’s

stamp

duty

(BSD)

The buyer who is not

a Hong Kong

permanent resident

15 % of the value of the flat 2012 October 27

Double

stamp

duty

(DSD)

The buyer (*except

Hong Kong residents

who do not own any

residential flats at the

time of purchase)

(i) For the flat valued below HKD 2 million,

the stamp duty is raised from HKD 200 to

$1.5% of the value of the flat.

(ii) For other flats, the rate of stamp duties is

doubled.

2013 February 23

Annex 1


Source C: A diagram showing the change of CCI* (Centa-City Index), an index reflecting the overall price change for second-hand

residential flats

*CCI

Introduction of the

additional stamp duties


Source D: A quick survey on views about the huge street protest of over 20,000 property agents against the additional stamp duties

Ms Ng: The agents should not protest. The

higher the flat price, the fewer people could

buy flats. Then there will be no transaction in

the property market. The agents will suffer in

the end.

Mr Wong: It is a pity that the

property agents have extremely bad

business. But the flat price may

continue to roar if the additional

stamp duties are cancelled.

Mr Lam: The additional

stamp duties are of no

use in reducing the flat

price or helping people

to buy their own flats.

Instead, there are

undesirable effects.


Questions

a) With reference to Source A, use a supply-demand diagram to illustrate the government’s approach to reducing the prices of

residential flats. (3 marks)

b) With reference to Source B, explain how buyer’s stamp duty (BSD) would affect “external demand” for residential flats. (3

marks)

c) A property agent claimed, “the special stamp duty (SSD) reduces both the demand for and the supply of the second-hand

residential flats.” With reference to Source B, give reasons to support the above claim. (4 marks)

d) Use a supply-demand diagram to illustrate how the additional stamp duties would affect the price of second-hand residential flats

as shown in Source C. (3 marks)

e) “The SSD will NOT result in a drop in Hong Kong’s GDP.” With reference to Source D, determine whether the statement is true

or not and justify your answer. (3 marks)

f) Explain whether the introduction of additional stamp duties would necessarily increase the revenue of stamp duties. (2 marks)

g) With reference to the sources and your own economics knowledge, discuss whether the government should continue the policies

mentioned in the sources to stablize the price of residential flats. (8 marks)


Suggested answers:

a) - D shifts to the left (1 mark)

- S shifts to the right (1 mark)

- Correct position of original P and new P (1 mark)

b) BSD increases the cost of buying flat (1 mark) for foreigners (1 mark) so the “external demand” for residential flats drops

(1 mark).

c) Reason for reducing demand: SSD reduces the potential capital gain for property investors/ increase the risk of capital loss/ short

term investors (speculators) will be switching away from buying residential flat. (2 marks)

Reason for reducing supply: some flat owners are less willing to put their flats for sale as once they buy a new flat, the newly

purchased flat will be subjected to SSD. (2 marks)

d) D shifts to the left (1 mark), S shifts to the left (1 marks), P does not change much. (1 mark)

e) False, (1 marks) as the value added of the property agencies and other property related business will drop (2 marks).

f) The revenue may not increase (1 mark) as the property transaction will drop after the imposition of additional stamp duties

(1 mark)

g) It should be aware that candidates may take a different approach, which, if appropriate, should be rewarded.

7-8 marks:

Shows an accurate understanding of economic concepts and theories.

Presents an in-depth analysis/application with reference to the source/data.

Supports synthesis/evaluation by appropriate theories and evidence.

Uses language that expresses ideas clearly and fluently.

Presents well-organised and coherent arguments.

4-6 marks:

Shows a fair understanding of economic concepts and theories.

Presents an analysis/application in moderate level with reference to the source/data.

Attempts to evaluate/syntheses with some support of theories and evidence.

Uses language that conveys a clear message.

Presents arguments in an organised way.

1-3 marks

Shows a weak understanding of economic concepts and theories.

Presents little analysis/application.

Shows limited language ability.

Presents inconsistent arguments.

0 mark

The work by a candidate fails to meet the minimum requirement of the assessment standard.


Answers may include the following:

The analysis of the overall housing policy, such as

The two-legged approach by the government can address the housing problem both in short term (by reducing the demand of flats)

and long term (by increasing the supply of flat).

Government should build more public housing/increase the supply of land for residential flat instead of disturbing the private

housing market.

Reducing demand by stamp duties has more instant impact on the flat price than rising supply, which is constrained by elasticity of

supply (institutional/political factors)

Increasing stamp duties is not effective to reduce the flat prices (refer to source C)

The analysis of individual policies affecting housing demand/supply, such as

Government uses the DSD to reduce the “speculative demand” for residential flat.

BSD is imposed to curb the increasing demand for residential flat from non-residents by increasing their cost of buying.

SSD is for discouraging the residents from buying more than one flat, thus reducing the “investment demand”.

Increasing DSD reduces both the demand for and supply of residential flats, thus it may not result in a drop in price.

The effects of the policies on different stakeholders, such as

Increasing flat price (caused by the increasing demand) may increase the wealth of the flat-holders and induce consumption and GDP

growth so it is debatable if government should intervene in the market.

The quantity transacted in property market is largely reduced and GDP will be adversely affected as the valued added of property

related industry will drop.

The property agents may suffer a lower income.

Asset-inflation will worsen the income inequality.

Any reasonable discussion that makes supported judgments/conclusions concerning the possible effects on the economy/ different

stakeholders.

Students are expected to draw a conclusion supported by their arguments made in discussion.

(Note: Students may use some answers from part (a) to (f) in answering (g) as long as their arguments are organized and logically

consistent with their stand.)


PROPOSED 2019 HKDSE ECONOMICS ASSESSMENT FRAMEWORK

INTRODUCTION

The public assessment of this subject is based on the Economics Curriculum and Assessment Guide (Secondary 4─6)

jointly prepared by the Curriculum Development Council and the Hong Kong Examinations and Assessment Authority.

Candidates have to refer to the Guide for the knowledge, understanding, skills etc they are required to demonstrate in the

assessment.

ASSESSMENT OBJECTIVES

The objectives of this assessment are to evaluate students’ abilities and achievements in the following :

1. to know and understand fundamental economic concepts and theories;

2. to apply such concepts and theories to explain real world situations, especially the Hong Kong economy;

3. to understand and interpret economic information presented in various forms;

4. to acquire the basic tools of economic analysis;

5. to analyze economic issues;

6. to evaluate arguments, proposals and policies from different perspectives and make informed judgments; and

7. to present ideas clearly, and in a well-reasoned manner, illustrating answers with diagrams and examples.

MODE OF ASSESSMENT

The following table outlines the various components of the public assessment of Economics in 2019 HKDSE:

Component Weighting Duration

Public

Examination

Paper 1 Multiple-choice questions will be set on the compulsory

part of the curriculum. All questions are compulsory. 30% 1 hour

Paper 2 Section A: Short questions will be set on the

compulsory part of the curriculum. All questions are

compulsory.

26%

2 hours 30

minutes

Section B: Structured/essay-type/data-response

questions will be set on the compulsory part of the

curriculum. All questions are compulsory.

35%

Section C: Structured/essay-type questions will be set

on the elective parts of the curriculum. Candidates are

only required to attempt the questions from one of the

two elective parts.

9%

PUBLIC EXAMINATION

The written examination of Economics will contain questions testing candidates’ knowledge and analytic ability in the

fundamental and selected areas of economics, and those testing higher order thinking skills. Candidates should be able

to apply their knowledge of economic analysis to practical problems and illustrate general principles with relevant

examples.

Annex 2

Documents

Survey on the New Academic Structure for - hkedcity.net334.edb.hkedcity.net/doc/eng/schoolsurvey_medium_term2/Q_Econ_E… · New Academic Structure Medium-term Review ... stakeholders