Qualifications Update: N5 Economics Qualifications Update: N5 Economics

Developing qualifications - drivers Progression More open and flexible requirements Assessment which supports learning Refreshed and relevant contexts for learning Personalisation and Choice Robust and credible

Key points Skills-based Units Provides opportunities to apply skills, knowledge and understanding using current economic contexts Builds knowledge and understanding progressively up the levels – from N5 to Advanced Higher Combines the best aspects of current Intermediate and Standard Grade Courses Added Value is assessed at N5 is by a question paper and an assignment

Unit Structure National 5 Economics Economics of the Market UK Economic Activity Global Economic Activity

New Quality Assurance arrangements Covers National 1 to National 5 from 2013/14 Promotes shared understanding of national standards through a collaborative and partnership approach New ‘Nominee’ role - provides a pool of nationally trained experts Intense verification in the first 3 years, thereafter an approach based on information gathered Verification in Nov/Dec, Feb and Apr/May - allows for early identification of issues and support/guidance to be given

Assessment Support Schedule 2012/13 Oct 12 N3 to N5 Unit Assessment Support (Package 1) Feb 13 N3 to N5 Unit Assessment Support (Package 2) Feb 13 N5 Specimen Question Paper Apr 13 N3 to N5 Unit Assessment Support (Package 3) Apr 13 N5 Specimen Coursework Apr 13 N4 Added Value Assessment Support

Economics Unit Assessment National 5

Unit assessment Flexible and open Assessment Standards and Evidence Requirements in Units Greater range of techniques and methodologies for assessment – encouraged through Unit assessment support packages Assessments can be designed to provide evidence across more than one outcome or Unit – combined assessments More opportunities to gather naturally occurring evidence – assessment as part of learning and teaching

Unit Assessment Support packages – purpose Assessment support packages will be provided which you can use to: Assess your candidates Adapt for your own assessment programmes Help you develop your own assessments

Unit Assessment Support packages – key features Valid from August 2013 Designed to encourage professional judgment – allow assessors to choose appropriate context and forms of evidence Show range of approaches to generating assessment evidence Give information on the type of evidence which could be gathered and how this is to be judged against Assessment Standards

Assessment Package 1 Pack 1 – Unit by Unit approach Each Unit has a pack which covers every assessment standard Each pack is ready to use and all meet minimum competence Each pack shows only 1 way of assessing that particular set of assessment standards

Judging Evidence OutcomeAssessment StandardsJudging the evidence Assessment for candidates (Appendix 1): commentary on assessment judgements Examine economic choices that an individual has to make regarding whether to spend, to save or to borrow by: 1.1 Describing basic elements of personal income, personal spending and how they affect personal budgeting decisions Candidates should be able to describe an example of personal income, and outline at least two items of spending for an individual. Candidates should be able to describe how income and spending affect personal budgeting decisions. Task 1 — Questions 1, 2 and 3 A source of income for Max is the earnings he gets from working. Two items that Max might spend his money on are food to eat and clothes to wear. Max is careful with his spending because there is uncertainty in the economy. He may lose his job in the future, so at least he will have some funds to keep him going.

Economics Added Value Assessment: - National 5 Course Assessment

Adding Value – National 5 Each Course at National 4 and National 5 includes assessment of Added Value For National 5, the added value is in the Course Assessment - graded A - D (as at present)

National 5 – National 5 – coursework 30 marks (question paper 70 marks) Prepare a short economic report Choose an economic topic to focus on and offer a reasoned conclusion based on research

National 5 – coursework Select, with minimum support, a current economic topic and choose a particular area of focus Use research skills and apply knowledge and understanding to explain the key features of the topic, referring to at least two economic viewpoints Analyse and interpret the topic from an economic perspective to draw a reasoned conclusion Present findings in a structured report using correct economic terminology

National 5 – coursework Examples of current economic topics could include: Examples of a particular area to focus your report on could include: Markets Why is there an increased demand for the produce at a local farmers market? Government finance There have been cuts in local government spending. How have these cuts affected businesses in my town? Global trade How has an increase in the tax on Scottish Whisky affected the amount of Whisky exported to Japan? Local Economy How might the Commonwealth Games affect the Glasgow economy? Exchange ratesIn what ways has the Euro crisis affected the price of holidays to Greece?