The Humanities – Economics Assessment Map – Sample at Level 5
For Level 3, please see The Humanities Assessment map.
Samples are available for the following tasks:
What phone?
Students were asked to design and create a budget which would demonstrate their knowledge and understanding of budgeting with the purposes of determining the affordability of a mobile phone. Budget items included savings, income and expenses during a specified period of time. Students were then asked to prepare a written report justifying their choice of phone plan.
The element of the Economic knowledge and understandings Level 5 addressed by the task is:
Students make informed economic and consumer decisions, demonstrating the development of personal financial literacy.
The following samples illustrate the kind of response that students produce when they have achieved the elements of the standard addressed by the task.
Economics knowledge and understanding – Level 5
- Identifies specific receipts of cash (income) including interest earned and payments (expenses) to be incurred over the month.
- Includes in the calculations the source of money needed to purchase the chosen phone.
- Determines the amount of money available to maintain the mobile phone plan.
- Takes into account the repayment of borrowed money, as well as planning a repayment schedule.
Element of the standard
Students make informed economic and consumer decisions, demonstrating the development of personal financial literacy.
Mobile Phone report
LG KF700Q
Phone Plan:
- Personal
- $60 average spend per month for 24 months
Includes:
- Monthly calls include voice/text $50
- Monthly included calls: data-GPRS/3G*2
- Voice calls rates to an Australian number-per 30 block(or part of thereof)55c
- National call connection fee per call 27c
-OR-
- Personal
- Pre-paid
- $876.00 upfront
- Same price calls, txt, internet and data.
Features
- Next G network coverage
- Bigpond mobile services
- Camera
- Clock
- Calendar
- MP3 Ringtones
- Touch screen
- MMS
- Vibration alert
- Speaker phone
- Bluetooth
- Mobile internet
- MP3 player
- Video playback
- GPRS
- PC synchronization
- Video calling
- Video messaging
- HDSPA capable
Which one would I choose and why:
I would choose the phone plan over the pre-paid option. I think that it would be the better option for me because its fits well into my budget because I can afford to pay the $60 a month.
I would choose it over the other one because it’s easier to pay off and it would take me longer to actually be able to have the phone if I wanted to have it on Pre-paid.
I would have to save for the pre-paid one whereas with the plan I have $50 a month that I can use to pay it off without having to save or not buy the things that I usually would.
Over the first year if I was to have the phone on Pre-paid buying $20 of credit a month I would pay around $1150. The plan is also around that price for the first year but paying with the plan is the easiest option I think.
Through doing this I learnt a lot about mobile phone plans and choosing what the best thing to have is. I think in the future I will look harder to find better plans and choose plans more over Pre-paid which I have used a lot in the past.
Economics knowledge and understanding – Level 5
- Clearly identifies the phone.
- Provides a full list of features of alternative phone plans.
- Identifies features of the mobile phone and acknowledges that these are the features most wanted.
- Identifies preferred plan and links this to the personal budget and the ability to purchase and maintain phone.
- Provides clear reasons for the plan chosen.
- Explains how scarce resources can be best used, for example, pocket money used for other needs and wants.
- Compares the total cost of the plan to the total cost of prepaid for a year – identifies the similarity of costs, therefore the plan was the easiest option.
- Comments on future consumer habits and decision making in relation to the exercise given and identifies the importance of being an informed consumer.
Element of the standard
Students make informed economic and consumer decisions, demonstrating the development of personal financial literacy.
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