AS-level Economics - PowerPoint Presentation

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AS-level Economics - PPT Presentation

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Slide1

AS-level EconomicsFeedback on Units 1

2013 Exam: The multiple choice section

Slide

Basic statistics

ECON1/1

Mean mark:

Standard deviation:

14.92

4.31

Three questions were answered correctly by fewer than 40% of the candidates. The most difficult questions were 19 (31.52%), 21 (33.26%) and 25 (37.35%).Slide3

The multiple choice papers

Slide

Question 19 - The statistics

product has a price elasticity of demand of

– 0.5

. If the price of this product increases

by 10

%, then total revenue

will

rise

by more than 10

%. (17.12%)

rise

by less than 10

%. (31.53%)

The

answer (a.k.a. the key)

fall

by more than 10

%. (11.29%)

fall

by less than 10

%. (39.68%)

the price rises by 10% and the quantity sold falls by 5%, revenue will increase but by less than 10%Slide4

Answer and statistics

Slide

Question 21

The

table below indicates the average price of clothing in price index number form.

Year Price

Index

2008 100

2009 105

2010 120

2011 110

2012 125

Which one of the following can be deduced from the data above?

The

price of clothing rose throughout the whole period 2008 to 2012

(22.87%)

Compared

with 2012, the price of clothing was 20% cheaper in 2008

(33.15%)

Revenue

from the sale of clothing fell in 2011

(25.41%)

Between

2010 and 2011, the price of clothing fell by 10

(18.26%)

The key is B: The change is 25 which is 20% of 125

Making a mistake when calculating the % change from index numbers is a common error and needs to be

taughtSlide5

The definitions

Slide

To achieve the full 5 marks for their answers to the definition questions, parts [01] and [05], they are required to provide an accurate and complete definition.

Part marks can be achieved if the candidate provides:

A partial definition

A definition which is not totally accurate but shows some understanding

A relevant example, or possibly a diagram, that shows some understanding but is clearly not a ‘definition’ of the termSlide6

ECON2 definitions exam statistics

Slide

Summary – Extract from the Principal Examiner’s Report

When

answering Questions 01 and 05, most students demonstrated some knowledge of the

terms but

in each case, the definitions were often either incomplete or inaccurate in some respect.

For example

, some of those who answered Context 1 were unable to provide a satisfactory

definition of

‘income’ and many of those who attempted Context 2 did not provide an adequate definition

of the

term ‘current account of the balance of payments

’.

The table below indicates how the marks were spread for each of these questions:

Mark

Part 01

Part 05

21.9%

11.7%

7.1%

28.9%

34.6%

47.2%

16.1%

2.5%

1.5%

17.7%

8.1%Slide7

ECON1 Context 2 definition

Slide

Define

the term ‘productive

efficiency

’ (

Extract E

, line 12).

Look at the mark scheme for this question

Note that the mark scheme includes a number of different definitions of the term, each of which is worth 5 marks

In this case, although it is possible to provide a stand-alone definition of efficiency, it was not sensible to define ‘productive’ and ‘efficiency’ separately.

Have a look at Exemplars 5, 6 and 7

How many marks would you award to each of these Exemplars?Slide8

ECON1 Context 2 definition: Exemplars

Slide

ECON1 Context 2 definition

Slide

Define the term ‘productive efficiency’ (

Extract E

, line 12).

Exemplar 5

was awarded

0 marks – confusion between productive and allocative efficiency

Exemplar 6

was awarded

5 marks – this is an accurate definition

Exemplar

was awarded

4 marks – this is a partial definition, it doesn’t quite ‘nail it’Slide10

Data Interpretation Questions – Key Issues

Slide

Students

did not follow the instructions in the question

, for example, they

did not compare the correct data series

Some students just gave a

feature of one data series

and didn’t make a valid comparison between the data series identified in the question.

A similar common error was to

make comparisons within

a single

data series instead between the two data series identified in the question

. For example, on ECON2 Part [02], comparing the highest index of real GDP with the lowest index of real

GDP.

Their

comparisons did not relate to the whole data period. Each question asked for

significant

comparisons ‘

over the period shown

’.

Many students did not include the

units of measurement

or quoted the wrong unitsSlide11

ECON1 Context 1 Data Interpretation Part [02]

Slide

Using

Extract A

, identify

two

significant points of comparison between the number

of students

on full-time courses and those on part-time courses over the period shown

(

8 marks)

Look at Extract A on the ECON1 question paper

Look at the relevant part of the mark scheme,

Pages 8 & 9

Have a look at Exemplars

8, 9 & 10

How many marks would you award to each of these Exemplars

?Slide12

ECON1 Context 1 Data Interpretation Part [02]: Exemplars

Slide

ECON1 Context 1 Data Interpretation Part [02]

Slide

Using

Extract A

, identify

two

significant points of comparison between the number

of students

on full-time courses and those on part-time courses over the period shown

(

8 marks)

The

main problem

with the responses to this question was that many candidates did not compare ‘full-time and part-time’ students. For example, they might, incorrectly, have compared the number of undergraduate students with the number of postgraduate students.

This error is illustrated by Exemplar 8 which wasn’t awarded any marks.

Exemplar 9 was awarded

4 marks

– one significant comparisons but inaccurate data

(3 marks)

& a second comparison that doesn’t compare ‘over the period shown’

(1 mark)

Exemplar 10

was awarded

marks

– two significant comparisons

with supporting data, but the units are wrong!!!!Slide14

Data Interpretation - Guidance for students

Slide

If students want to be confident of achieving high marks for these questions, they should:

Use

a separate paragraph for each feature/comparison

State the point made at the start of the

paragraph

Features/comparisons should relate to the whole data series

Use

figures to support the point

Make sure that your figures do

support

the point

Make sure that your figures are accurate

Make sure that you quote the units of measurement correctly

If a comparison is required, supporting figures must be quoted from each data seriesSlide15

Parts [03] and [07] – Some Key Issues

Slide

Introductory definitions:

Many students didn’t include relevant definitions in their answers

Some students include random definitions that aren’t related to the question. Marks are only awarded for relevant definitions.

Definitions were sometimes inaccurate,

it is not correct to define unemployment as ‘those who are not working’.

Use of diagrams:

Diagrams are often labelled incorrectly

Not all students make use of the diagrams they have drawn; they should be referred to in the text and used to support the written explanation

Diagrams be relevant, i.e. they must help to answer the questionSlide16

ECON1 - Part [03] - First

example

Slide

With the help of an appropriate diagram, explain the view of education as

a ‘…

service which markets tend to under-provide’ (

Extract C

, line 18

Look

at the relevant part of the mark scheme,

i.e. Pages 10, 11 & 12

Have a look at

Exemplar 13

How

many marks would you award

to this Exemplar?Slide17

ECON1 - Part [03] - First

example

Slide

ECON1 - Part [03] - Second example

Slide

With the help of an appropriate diagram, explain the view of education as

a ‘…

service which markets tend to under-provide’ (

Extract C

, line 18

Read Exemplar 14

How

many marks would you award to

this Exemplar?Slide19

ECON1 - Part [03] - Second example

Slide

ECON1 - Part [03] – The marks

Slide

With the help of an appropriate diagram, explain the view of education as

a ‘…

service which markets tend to under-provide’ (

Extract C

, line 18

Exemplar 13 was awarded 7 marks

Exemplar

was awarded

12 marks

Look at the commentary for each response

Copies of these commentaries are in the Post-event HandbookSlide21

The 25 mark questions

Slide

Introduction

Students’ answers are marked using a Levels of Response Mark Scheme

Students are assessed on the

overall quality

of their answer, taking into account their ability to demonstrate

four

skills: knowledge and understanding, application, analysis and evaluation.

This is the only part of the exam in which evaluation is assessed and, to conform to the weighting of the assessment objectives, students who do not include any evaluation in their answers cannot be awarded more than 13 marks.

However, sound analysis is the key to a good answer.

nless the analysis is sound, the evaluation is invariably weak and unsupported.

The examiner uses the Levels

of Response Mark

Scheme and, when awarding the mark, selects

the best fit

for student’s answerSlide22

What qualities characterise an A grade response?

This is difficult because the mark required to achieve an A grade also depends upon the mark achieved elsewhere on the paper. However, if we assume that a typical A grade student is likely to:

achieve around 20

marks for multiple choice at least 20 marks for the first 3 parts of the data response question

they are likely to have to achieve a low Level 4 on the 25 mark question.The skills students are required to demonstrate to achieve Level 4 are summarised as either:Good analysis but limited evaluation orReasonable analysis and reasonable evaluation

Slide

What qualities characterise a typical mid-L4 response?

The student will demonstrate good knowledge and understanding of relevant economic concepts and theories throughout their answer

but

there may be the occasional errorThe answer will be well-focused on the question set and economic principles will be applied appropriatelyThe answer will have a clear, logical structure

There is likely to be at some appropriate use of diagrams to support the written analysisSome use will be made of the ExtractsMost, if not all, of the analysis will be sound and there will be extended analysis of some of the issues raised by the questionThere will be some supported evaluationThere is likely to be some attempt at a conclusion but it may be fairly superficial or possibly repetitive

Slide

Application

There are two elements to this:

Relevant application of economic theory to the question

An answer that is poorly focused is not demonstrating ‘application’ effectivelyUse of data to support the answer, for example, they might

make use of the data in the Extractsuse their own knowledge of recent developments in the UK economy or other facts relating to the question

Slide

A complete answer to part 08 of ECON1

Before moving on to look at the skill of analysis, we are going to have a look at a student’s complete answer to ECON1 part 08

Using the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.

Read Exemplar 19Look at the commentary on this answer below;

Slide

Analysis

Look at the 3 exemplars for the analysis section of their answers;

Ask yourself

in what ways is the analysis demonstrated in Example 2 better than in Example 1.Ask yourself in what ways is the analysis demonstrated in Example 3 better than in Example 2.

Slide 44

Analysis

Look at the 3 exemplars for the analysis section of their answers;

Ask yourself

in what ways is the analysis demonstrated in Example 2 better than in Example 1.Ask yourself in what ways is the analysis demonstrated in Example 3 better than in Example 2.

Slide 44

Analysis

Look at the 3 exemplars for the analysis section of their answers;

Ask yourself

in what ways is the analysis demonstrated in Example 2 better than in Example 1.Ask yourself in what ways is the analysis demonstrated in Example 3 better than in Example 2.

Slide 44

Evaluation - Conclusions

ECON1 Context 1 Part [08]

Using the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.Candidates find it hard to write good conclusion, even many of the better candidates finish with a single sentence or just repeat arguments that they have already presented

Look at the exemplars; each one is better than the last

Slide

Evaluation - Conclusions

ECON1 Context 1 Part [08]

Using the information in the data and your own economic knowledge, evaluate

Look at the exemplars; each one is better than the last

Slide

Evaluation - Conclusions

ECON1 Context 1 Part [08]

Using the information in the data and your own economic knowledge, evaluate

Look at the exemplars; each one is better than the last

Slide

An answer to ECON1 Context 1 Part [08]

Using

the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.

Look at Exemplar 34This answer was awarded the full 25 marks, i.e. top of Level 5What are the strengths of this answer?Are there any weaknesses?Now look at the commentary opposite;

Slide

An answer to ECON1 Context 1 Part [08]

Using

the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.

Look at Exemplar 34This answer was awarded the full 25 marks, i.e. top of Level 5What are the strengths of this answer?Are there any weaknesses?Now look at the commentary opposite;

Slide

An answer to ECON1 Context 1 Part [08]

Using

the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.

Look at Exemplar 34This answer was awarded the full 25 marks, i.e. top of Level 5What are the strengths of this answer?Are there any weaknesses?Now look at the commentary opposite;

Slide

An answer to ECON1 Context 1 Part [08]

Using

the information in the data and your own economic knowledge, evaluate

the economic case for and against governments attempting to influence how mobile phones are manufactured and used.

Look at Exemplar 34This answer was awarded the full 25 marks, i.e. top of Level 5What are the strengths of this answer?Are there any weaknesses?Now look at the commentary opposite;

Slide

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