The VCE Economics Study Design and the areas of study, including the key knowledge and key skills listed for the outcomes, are used for the development of a teaching program, learning activities and the development of assessment tasks. Teachers should explicitly teach the concepts and skills detailed within the key knowledge and key skills. In VCE Economics, students will be expected to demonstrate an understanding of key knowledge and application of key skills within a variety of School-assessed Coursework (SAC) assessment task types as listed in the VCE Economics Study Design.
When developing assessment tasks, teachers should refer to the VCAA policies and school assessment procedures as specified in the VCE and VCAL Administrative Handbook section: Scored assessment: School-based Assessment.
Assessing the task
The VCAA Performance descriptors can be used and adapted to the specifics of the task to assess a student’s level of performance. The assessment tools (performance descriptors, rubrics and / or marking guide) should reflect the outcome, key knowledge and key skills. The assessment task and assessment tools should be explained to students before they commence.
Time
SAC assessment tasks must be part of the regular teaching and learning program and must not unduly add to the workload associated with that program. They must be completed mainly in class and within a limited timeframe.
Conditions and authentication
The teacher must consider the conditions in which the task is completed and the authentication strategies relevant for each assessment task. Information regarding VCAA authentication rules can be found in the VCAA VCE and VCAL Administrative Handbook section: Scored assessment: School-based Assessment.
Students should be provided with clear written instructions about each assessment task. These instructions can include a cover sheet and appropriate support materials.
Resourcing and scheduling
- Schools may determine the conditions for the task including access to resources and notes.
- Students should be advised in advance of the timeline and conditions under which the task is to be conducted.
- Assessment Rubrics / performance descriptors provide a guide to the levels of performance typically demonstrated within each range on the assessment task(s). The performance descriptors for each outcome identify the qualities or characteristics expected in a student response.
Assessment tasks in Unit 3 and Unit 4
Description
The conditions set by the VCAA state that a minimum of two different assessment task types will be used to assess School-assessed Coursework in Unit 3 and in Unit 4. Both units have the same set of choices listed for assessment tasks.
Structured questions
What are structured questions?
Structured questions are a set of multi-part questions scaffolded to enable the demonstration of performance at the highest levels while providing access (at each part) for students to be able to provide a response independent of prior responses. The questions should target both key knowledge and key skills related to the outcome being assessed.
Example for Unit 3, Area of Study 3
Designing the task
- Consider the key knowledge and key skills in this area of study.
- Research and source contemporary issues, information and data over the past two years, relevant to the area of study.
- The task words indicate the key skills that students require. These key skills should be used to formulate appropriate questions that are scaffolded (define, explain, interpret, apply, calculate, gather, synthesise).
- Stimulus material in the form of recent graphs or tables could be used to demonstrate the ability to interpret trends and patterns in economic data. Individual graphs and / or tables could be used at the start of a particular set of questions with answers required in response to the stimulus.
- In order to demonstrate the ability to calculate relevant international economic indicators, real data could be sourced and / or hypothetical data could be created.
- Each set of questions could have two to four parts, starting with low-order thinking questions and building up to high-order thinking questions.
- Two to three sets of questions for the task are ideal, depending on the time allocated to complete them.
- Examples of structured questions can be found in past VCAA VCE Economics exams.
Decide on the conditions under which the task will be conducted
Given that Outcome 3 is worth 25 marks of the 100 marks available for School-assessed Coursework in Unit 3, teachers may decide to have students complete only one task.
Test conditions mean that no notes or textbooks are allowed and students will be supervised.
Question and answer booklets should be prepared, with appropriate line allocation.
Time allocation
Allow fifty minutes to complete the task. This allows ten minutes’ reading time and 40 minutes to write the answers to the structured questions.
A folio of applied economic exercises
What is a folio of applied economic exercises?
A folio of applied economic exercises consists of a range of tasks that students complete to demonstrate their understanding of key knowledge and application of key skills for a particular area of study. The folio could consist of two to four different tasks completed over a number of lessons during or after the teaching of an area of study. Teachers could choose from any of the task types listed for Units 3 and 4, although folios of applied economic exercises might typically involve completing a range of shorter task types such as the following:
Example for Unit 4, Area of Study 1
Teachers may choose to assess budgetary and monetary policy in separate school-assessed tasks or together. The following is one suggested approach if using a folio of applied economic exercises:
- Multiple choice questions – budgetary and monetary policy questions (standalone task or included with the structured questions task)
- Media analysis – monetary policy
- Data analysis – budgetary policy
- Structured questions – budgetary and monetary policy questions.
Budgetary policy
Teachers may choose to assess this separately or together with monetary policy.
Designing the task
- Examples of multiple-choice questions and structured questions can be found in past VCAA VCE Economics exams.
- Source a range of online and / or print media articles on current monetary policy decisions / stance.
- Source a range of online and / or print data on budgetary policy decisions / stance and the last two budgets.
- Use a range of sources to write two to four sets of questions on budgetary and monetary policies for the media, data and structured questions tasks.
- Consider the key knowledge and key skills within this area of study.
- Research and source information and data from the past two years relevant to the area of study.
- The task words indicate the key skills students require. These key skills should be used to formulate appropriate questions that are scaffolded (define, gather, synthesis, analyse, discuss, predict).
- Each set of questions could have two to four parts starting with low-order thinking questions and building up to high-order thinking questions.
Decide on the conditions under which the task will be conducted
Given that Outcome 1 is worth 60 marks of the 100 marks available for school-assessed coursework in Unit 4, teachers may decide that a folio of applied economic exercises is one way to assess students in this area of study.
Test conditions mean that no notes or textbooks allowed and students will be supervised.
Question and answer booklet should be prepared, with appropriate line allocation for all but the multiple-choice questions.
Time allocation
Allow fifty minutes to complete each task, not including the multiple-choice questions (if assessed separately). This allows ten minutes’ reading time and 40 minutes to write the answers to each task type. The time allocation for the multiple-choice questions will depend on how many there are; however, as a guide, allocate 1 to 1.5 minutes per mark. The multiple-choice questions could also be combined with the structured questions.
A report
What is a report?
A written report provides objective information that is structured using sub-headings. It would typically include statistics and diagrams that are analysed to support the discussion. A report can use dot-points and have distinct sections within it.
A data analysis
What is a data analysis?
A data analysis refers to an assessment task where students are given a range of data (statistics, tables, graphs) to interpret and analyse in order to demonstrate their understanding of key economic concepts and draw conclusions from them. This data could be real or hypothetical, although for most if not all areas of study, real data is readily available.
A media analysis
What is a media analysis?
A media analysis refers to a task that examines, interprets, analyses, assesses or evaluates current economic issue(s) using a selection of media sources. These could be data, detailed information, analyses or other stimulus material from online or print sources such as: newspaper, magazines, bulletins, journals, websites, etc.
Example for Unit 3, Area of Study 3
Designing the task
- Consider the key knowledge and key skills in this area of study.
- Read and source current information and data from the past two years that is relevant to the area of study from a range of media; for example, one to two articles, websites or excerpts from several media sources that are relevant to writing this assessment task.
- The task words indicate the key skills that students require. These key skills should be used to formulate appropriate questions that are scaffolded (define, explain, interpret, apply, calculate, gather, synthesise).
- In order to demonstrate the ability to interpret trends and patterns in economic data, stimulus material in the form of recent graphs or tables from the media could be used.
- Each set of questions could have two to four parts, starting with low-order thinking questions and building up to high-order thinking questions.
- Two to three sets of questions for the task are ideal, depending on the time allocated to complete them.
Decide on the conditions under which the task will be conducted
Given that Outcome 3 is worth 25 marks of the 100 marks available for School-assessed Coursework in Unit 3, teachers may decide to have students complete only one task.
Test conditions mean that the media articles / information could be made available to students two or three days ahead of the assessment task for pre-reading. No media articles, notes or textbooks are allowed and students will be supervised.
Question and answer booklets should be prepared, with appropriate line allocation. Keep the media articles separate to the booklet for ease of use during the task.
Time allocation
Allow fifty minutes to complete the task. This allows five to ten minutes’ reading time and 40–45 minutes to write the answers to the questions.
A case study
What is a case study?
In general, a case study is a detailed examination / investigation of an issue(s) based on real-world information / material. It involves analysing and applying real information to identify problems, assess effects, and evaluate solutions.
An extended response
What is an extended response?
An extended response is similar to an essay, typically written in response to some stimulus material and requiring a conclusion be reached.
An essay
What is an essay?
An essay is a structured piece of writing in which students present economic arguments in response to a question or a prompt. The essay requires an explicit response to the question or prompt. This response functions as the student’s argument, which is supported by evidence drawn from statistical and / or theoretical and / or real sources. An essay structure typically consists of an introduction, a logically structured body of multiple paragraphs that support and substantiate the student’s response, and a conclusion. In addressing the question, students will have the opportunity to engage with the economic concepts, making judgments about economic significance, and analysing or evaluating the extent to which something has been achieved.
An essay should require students to:
- develop and sustain economic arguments that address the outcome
- start with an introduction, continue with the body of paragraphs and finish with a conclusion
- select and use economic information as evidence to establish and support key arguments
- use economic thinking and economic terminology to explain, analyse or evaluate the ideas and discussion points.
Designing the task
When designing an essay question, teachers should ensure that it allows students to demonstrate satisfactory achievement of the outcome and draw on the scope of the key knowledge and key skills in the study design. Questions should be sufficiently open-ended to allow students access to the task from a range of ability levels, while allowing ample scope for analysis, discussion and / or evaluation of the question.
Key elements in designing an essay question include:
- identifying the key concepts of the outcome that can frame the essay question and / or prompt
- drawing on the key knowledge to provide a structure and focus for the essay and/or prompt
- identifying suitable quotations and / or stimulus material for use as an essay prompt
- using the common terms and phrases drawn from the key skills of the study.
Teachers will decide if it is appropriate to give students a choice of questions and / or prompts in order to allow for a choice.
Common question stems may include:
- Evaluate the extent to which…
- Evaluate the role of…
- Analyse the strengths and weaknesses of….
- Assess the effect(s) of…
- Discuss….
Decide on the conditions under which the task will be conducted
Test conditions: Example: One A4 hand-written original sized page of notes could be used for this task. Notes should be pre-checked the day before the task and returned to the student at the start of the task. Students will be supervised.
Question and answer booklets could be prepared, with appropriate line allocation. Students should submit all notes used to complete the task if prepared notes are permitted.
Time allocation
Allow 90–120 minutes to complete the task.