National Moderator's Reports

March 2019

Show: Economics Homepage
Download PDF: Economics National Moderator's Report (PDF, 29KB)

The following report gives feedback to assist assessors with general issues and trends that have been identified during external moderation of the internal Economics standards in 2018.

It does not clarify specific standards but provides further insights from moderation material viewed throughout the year.


Volume of Evidence Produced

Back to contents

Some students produce an excessive volume of evidence. Students are not required to submit evidence beyond the criteria of the standard. It is appropriate for teachers to guide students to produce succinct evidence in response to the achievement criteria of the standard.

While encouraging students to present evidence in different modes is desirable, attention should be given to ensuring that tasks are not just increasing the quantity of student work.

Engaging tasks that focus on students producing succinct, quality responses based around business visits, case studies and real world contexts are possible for all internal Economics standards.

The often excessive volume of evidence seen for 91402 should be remedied with version 3 of the standard, published in December 2018. The new version can be found via the NZQA subject page for Economics. From 2019 onwards, students need only address one market failure or inequitable market situation, instead of two, reducing the volume of evidence and student workload.

The updated clarification for 91402, version 3, provides more information around equity and efficiency and the use of appropriate models. The updated annotated exemplar also provides guidance when making assessor judgements for 91402. Both documents can be found via the NZQA subject page for Economics.

Excellence at Level 3

Back to contents

There is some inconsistency in awarding Excellence. When making assessor decisions regarding Excellence, consideration needs to be given to the overall quality of the evidence. This is critical when making a judgement at the Merit/Excellence boundary.

A significant proportion of moderation grade changes occurred at the Merit/Excellence boundary for Level 3 standards. In most cases, this occurred because the sample did not show sufficient depth of explanation and integration of economic models to fulfil the requirements for Excellence.

Students who reached Excellence showed a sustained comprehensive understanding of two or more microeconomic concepts for 91401. This involved ‘justifying’ the implications for a consumer(s), producer(s) or government for each concept by accurately integrating a change shown on an economic model(s), and data or information into each detailed explanation.

Similarly, for 91402, version 2, students who reached Excellence ‘justified’ each recommendation. This involved integrating changes shown on models with a detailed, accurate explanation of why the selected government intervention was the more efficient or equitable way to correct each market failure.

Tasks that included instructions to use models and data, or information to ‘justify’ the student responses, tended to enhance a student’s opportunity to show the depth of economic understanding, modelling skills and knowledge required for Excellence.

The annotated exemplars on the NZQA subject page for Economics give guidance when making judgements at the Excellence/Merit grade boundary for standards 91401 and 91402.

Group Work

Back to contents

Group work is an acceptable form of assessment, if appropriate to the standard. When submitting group work for moderation, the teacher needs to ensure there is evidence that each student has met the standard.

The contribution of each student can be tracked and presented in a variety of ways, such as written record of teacher observation, the division of workload into clearly defined tasks, a student worklog or video diary, recordings of teacher/student conferences, etc.

Some schools engaged in group work for standards that require the collection of data or information, and where research is desirable. Additionally, the constructed model or circular flow diagram has been done as a group task for 90988. The collation and use of data, information and models in student responses is usually done individually.

For moderation, evidence of personal skills and economic understanding relevant to the standard will need to be shown in the ways mentioned above, or through practice exercises or activities which are completed prior to the final work.

Integrated Assessment of Standards

Back to contents

This refers to assessing multiple standards via one submission of student evidence. The assessment of standards may be integrated either within a subject or across subjects.

For external moderation, if the assessment is across subjects and the student evidence is physical, it can be sent on to the next subject moderator/s if required. If it is an online submission, the student evidence can be uploaded for each standard being moderated.

Currently, integration of internal Economics standards within the subject or with other subjects is rarely seen. Student responses for integrated assessments must include the relevant evidence to meet the Achievement Criteria for each selected standard.

Excellence for 91227

Back to contents

A significant proportion of moderation grade changes occurred at the Merit/Excellence boundary for 91227. Students who reached Excellence demonstrated a sustained comprehensive analysis, and ‘justified’ a combination of government policies. This involved considering the short and long-term effects of the combination of policies, and recognising when minimising negative flow-on effects involved another policy being included to achieve the specific policy objectives.

Additionally, students clearly understood how the policies affected aggregate demand (AD) and aggregate supply (AS), and the changes shown on the AD/AS and other models were accurate and consistent with the explanations. For Excellence, the changes were integrated into detailed explanations of how each policy directly impacted one economic issue, and had flow-on effects on two other economic issues.

Excellence for 90988 and 90984

Back to contents

Most events seen in assessment tasks for 90988 impact the producer sector first, apart from a change to direct tax like PAYE. Students who reached Excellence provided a detailed explanation of the event’s impact on the producer sector, which included the impact on the primary, secondary or tertiary firms used in the task.

Students also explained how these impacts had flow-on effects to other sectors, therefore ‘linking’ the explanations. The language of the model, e.g. circular flow diagram, was also used to support these explanations.

Students who reached Excellence for 90984 ‘linked’ the consequences to producer decisions, and integrated presented information or data into the explanations. Additionally, For Excellence they demonstrated a sustained level of comprehensive understanding across at least two production areas, using economic terminology and concepts.

Successful tasks included instructions to use presented data or information to support student responses, and ‘link’ the consequences for the producer or society to each decision. This enhances a student’s opportunity to show the depth of economic understanding required for Excellence.

Skip to main page content Accessibility page with list of access keys Home Page Site Map Contact Us