AS-level Economics Feedback on Units 1 Copyright © AQA and its licensors. All rights reserved.

2013 Exam: The multiple choice section 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%). Slide 8 Copyright © AQA and its licensors. All rights reserved.

The multiple choice papers Question 19 - The statistics A product has a price elasticity of demand of – 0.5. If the price of this product increases by 10%, then total revenue will A rise by more than 10%. (17.12%) B rise by less than 10%. (31.53%) The answer (a.k.a. the key) C fall by more than 10%. (11.29%) D fall by less than 10%. (39.68%) If the price rises by 10% and the quantity sold falls by 5%, revenue will increase but by less than 10% Slide 11 Copyright © AQA and its licensors. All rights reserved.

Answer and statistics 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? A The price of clothing rose throughout the whole period 2008 to 2012. (22.87%) B Compared with 2012, the price of clothing was 20% cheaper in 2008. (33.15%) C Revenue from the sale of clothing fell in 2011. (25.41%) D 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 taught Students often struggle with index numbers and yet they are an important means of presenting economic data. The ability to interpret index numbers has been regularly tested by both multiple choice and data response questions. Questions testing the use of index numbers have appeared on both the ECON1 and ECON2 papers If your students are struggling with the interpretation of index numbers, it is important to devote some time to improving their skills in this area. It is worth creating a variety of activities that develop their ability to interpret data presented in the form of index numbers. Slide 14 Copyright © AQA and its licensors. All rights reserved.

The definitions 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 term Slide 17 Copyright © AQA and its licensors. All rights reserved.

ECON2 definitions exam statistics 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 5 21.9% 11.7% 4 7.1% 28.9% 3 34.6% 47.2% 2 16.1% 2.5% 1 1.5% 17.7% 8.1% Slide 21 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 2 definition 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? Slide 22 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 2 definition: Exemplars Slide 22 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 2 definition 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 7 was awarded 4 marks – this is a partial definition, it doesn’t quite ‘nail it’ Slide 23 Copyright © AQA and its licensors. All rights reserved.

Data Interpretation Questions – Key Issues 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 units Slide 24 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 1 Data Interpretation Part [02] 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, ie Pages 8 & 9 Have a look at Exemplars 8, 9 & 10 How many marks would you award to each of these Exemplars? Slide 25 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 1 Data Interpretation Part [02]: Exemplars Slide 25 Copyright © AQA and its licensors. All rights reserved.

ECON1 Context 1 Data Interpretation Part [02] 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 6 marks – two significant comparisons with supporting data, but the units are wrong!!!! Slide 26 Copyright © AQA and its licensors. All rights reserved.

Data Interpretation - Guidance for students 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 series Slide 28 Copyright © AQA and its licensors. All rights reserved.

Parts [03] and [07] – Some Key Issues 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, eg 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 question Slide 29 Copyright © AQA and its licensors. All rights reserved.

ECON1 - Part [03] - First example 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? Slide 30 Copyright © AQA and its licensors. All rights reserved.

ECON1 - Part [03] - First example Slide 30 Copyright © AQA and its licensors. All rights reserved.

ECON1 - Part [03] - Second example 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? Slide 31 Copyright © AQA and its licensors. All rights reserved.

ECON1 - Part [03] - Second example Slide 31 Copyright © AQA and its licensors. All rights reserved.

ECON1 - Part [03] – The marks 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 14 was awarded 12 marks Look at the commentary for each response Copies of these commentaries are in the Post-event Handbook Slide 32 Copyright © AQA and its licensors. All rights reserved.

The 25 mark questions 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. Unless 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 answer Slide 38 Copyright © AQA and its licensors. All rights reserved.

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 or Reasonable analysis and reasonable evaluation Slide 39 Copyright © AQA and its licensors. All rights reserved.

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 error The answer will be well-focused on the question set and economic principles will be applied appropriately The answer will have a clear, logical structure There is likely to be at some appropriate use of diagrams to support the written analysis Some use will be made of the Extracts Most, if not all, of the analysis will be sound and there will be extended analysis of some of the issues raised by the question There will be some supported evaluation There is likely to be some attempt at a conclusion but it may be fairly superficial or possibly repetitive Slide 40 Copyright © AQA and its licensors. All rights reserved.

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’ effectively Use of data to support the answer, for example, they might make use of the data in the Extracts use their own knowledge of recent developments in the UK economy or other facts relating to the question Slide 41 Copyright © AQA and its licensors. All rights reserved.

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 19 Look at the commentary on this answer below; Slide 43 Copyright © AQA and its licensors. All rights reserved.

Slide 43 Copyright © AQA and its licensors. All rights reserved.

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 Copyright © AQA and its licensors. All rights reserved.

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 Copyright © AQA and its licensors. All rights reserved.

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 Copyright © AQA and its licensors. All rights reserved.

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 49 Copyright © AQA and its licensors. All rights reserved.

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 49 Copyright © AQA and its licensors. All rights reserved.

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 49 Copyright © AQA and its licensors. All rights reserved.

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 34 This answer was awarded the full 25 marks, i.e. top of Level 5 What are the strengths of this answer? Are there any weaknesses? Now look at the commentary opposite; Slide 50 Copyright © AQA and its licensors. All rights reserved.

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 34 This answer was awarded the full 25 marks, i.e. top of Level 5 What are the strengths of this answer? Are there any weaknesses? Now look at the commentary opposite; Slide 50 Copyright © AQA and its licensors. All rights reserved.

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 34 This answer was awarded the full 25 marks, i.e. top of Level 5 What are the strengths of this answer? Are there any weaknesses? Now look at the commentary opposite; Slide 50 Copyright © AQA and its licensors. All rights reserved.

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 34 This answer was awarded the full 25 marks, i.e. top of Level 5 What are the strengths of this answer? Are there any weaknesses? Now look at the commentary opposite; Slide 50 Copyright © AQA and its licensors. All rights reserved.