ocr.org.uk/gcseeconomics

GCSE (9-1)Specification

ECONOMICSJ205For first assessment in 2019

GCSE (9-1) Economics

Version 1.1 (April 2018)

Registered office: 1 Hills Road Cambridge CB1 2EU

OCR is an exempt charity.

Disclaimer Specifications are updated over time. Whilst every effort is made to check all documents, there may be contradictions between published resources and the specification, therefore please use the information on the latest specification at all times. Where changes are made to specifications these will be indicated within the document, there will be a new version number indicated, and a summary of the changes. If you do notice a discrepancy between the specification and a resource please contact us at: resources.feedback@ocr.org.uk

We will inform centres about changes to specifications. We will also publish changes on our website. The latest version of our specifications will always be those on our website (ocr.org.uk) and these may differ from printed versions.

© 2018 OCR. All rights reserved.

Copyright OCR retains the copyright on all its publications, including the specifications. However, registered centres for OCR are permitted to copy material from this specification booklet for their own internal use.

Oxford Cambridge and RSA is a Company Limited by Guarantee. Registered in England. Registered company number 3484466.

1© OCR 2016 GCSE (9–1) in Economics

Contents

1 Why choose an OCR GCSE (9–1) in Economics? 21a. WhychooseanOCRqualification? 21b. WhychooseOCR’sGCSE(9–1)inEconomics? 31c. Whatarethekeyfeaturesofthisspecification? 41d. What is new in OCR’s GCSE (9–1) in Economics 41e. HowdoIfindoutmoreinformation? 5

2 Thespecificationoverview 62a. OCR’s GCSE (9–1) in Economics (J205) 62b. Content of GCSE (9–1) in Economics (J205) 72c. ContentofJ205/01–IntroductiontoEconomics 82c. ContentofJ205/02–NationalandInternationalEconomics 112d. Prior knowledge, learning and progression 14

3 Assessment of GCSE (9–1) in Economics 153a. Forms of assessment 153b. Assessmentobjectives(AO) 153c. Command words 163d. AOweightingsinOCRGCSE(9–1)Economics 163e. Assessmentavailability 163f. Retakingthequalification 173g. Assessment of extended response 173h. Synopticassessment 173i. Calculatingqualificationresults 17

4 Administration:whatyouneedtoknow 184a. Pre-assessment 184b. Specialconsideration 184c. External assessment arrangements 194d. Resultsandcertificates 194e. Results 204f. Post-resultsservices 204g. Malpractice 20

5 Appendices 215a. Overlapwithotherqualifications 215b. Accessibility 215c. Quantitativeskillsrequirement 215d. Assessmentofquantitativeskills 22

Summary of updates 23

2© OCR 2016

GCSE (9–1) in Economics

1

1a. WhychooseanOCRqualification?

ChooseOCRandyou’vegotthereassurancethatyou’re working with one of the UK’s leading exam boards. Our new OCR GCSE (9–1) in Economics course hasbeendevelopedinconsultationwithteachers,employersandhighereducationinstitutionstoprovidelearnerswithaqualificationthat’srelevanttothem and meets their needs.

We’re part of the Cambridge Assessment Group, Europe’s largest assessment agency and a departmentoftheUniversityofCambridge.Cambridge Assessment plays a leading role in developinganddeliveringassessmentsthroughouttheworld,operatinginover150countries.

Weworkwitharangeofeducationproviders,including schools, colleges, workplaces and other institutionsinboththepublicandprivatesectors.Over13,000centreschooseourALevels,GCSEsandvocationalqualificationsincludingCambridgeNationalsandCambridgeTechnicals.

OurSpecifications

Webelieveindevelopingspecificationsthathelpyoubring the subject to life and inspire your students to achievemore.

We’vecreatedteacher-friendlyspecificationsbasedonextensiveresearchandengagementwiththeteachingcommunity.They’redesignedtobestraightforwardandaccessiblesothatyoucantailor

thedeliveryofthecoursetosuityourneeds.Weaimto encourage students to become responsible for theirownlearning,confidentindiscussingideas,innovativeandengaged.

Weprovidearangeofsupportservicesdesignedtohelpyouateverystage,frompreparationthroughtothedeliveryofourspecifications.Thisincludes:

• Awiderangeofhigh-qualitycreativeresources,including:• DeliveryGuides• TransitionGuides• TopicExplorationPacks• LessonElements• …and much more.

• AccesstoSubjectAdvisorstosupportyouthroughthetransitionandthroughoutthelifetimeofthespecification

• CPD/Trainingforteacherstointroducethequalificationsandprepareyouforfirstteaching

• ActiveResults–ourfreeresultsanalysisservicetohelpyoureviewtheperformanceofindividuallearnersorwholeschools.

AllGCSE(9–1)qualificationsofferedbyOCRareaccreditedbyOfqual,theRegulatorforqualificationsofferedinEngland.TheaccreditationnumberforOCR’sGCSE(9–1)inEconomicsisQN:603/0143/0.

1 Why choose an OCR GCSE (9–1) in Economics?

3© OCR 2016 GCSE (9–1) in Economics

1

1b. Why choose OCR’s GCSE (9–1) in Economics?

OCR’s GCSE (9–1) in Economics has been designed tobeanengagingandrelevantspecificationfortoday’s learners.

Economics is about people and their economic choices.Thiscourseenableslearnerstoappreciatewe are all part of the economy and that economics relatestoeveryaspectofourlives–fromthedecisionsofindividualsorfamiliestothestructurescreatedbygovernmentsandproducers.Itwilldeveloplearners’understandingofhoweconomicissuesaffectchoicesaboutresourcesandmarketsandviceversa.

OCR’s GCSE (9–1) in Economics equips learners with theskillsandconfidencetoexplorehowconsumers,producersandgovernmentsinteractinmarketsnationallyandinternationally.Itprovidesawell-roundedintroductiontothissubjectandanexcellentfoundationforadvancedstudyinEconomics.

Bylearninghowtoexplainandevaluateeconomicproblemsandpossiblesolutions,learnerswillacquireawayofthinkingaseconomistsanddevelopalogicalapproach to thinking and reasoning.

By learning how to use economic data from a range of sources, such as tables, charts and graphs, learners will acquire the skills to make informed judgements and to communicate in a clear and concise way.

Learnerswillbenefitfromthesetransferrableskills in their further study and employment.

OCR’s GCSE (9–1) in Economics will enable learners tobecomebetter-informedandmoreresponsiblecitizens,consumersandproducers,byallowingthemtodevelopanawarenessfortheimportanceoftheeconomicdimensiontoourlives.Thiswillallowthemtobecomemoreconfidentintheeconomicchoicesrelatingtotheirlifeandwork.

Ourspecificationhasbeendesignedinconjunctionwithawiderangeofteacherstoensureaninclusivespecificationhasbeencreatedtoallowalllearnerstoachievetheirpotential.Wehavelookedcloselyatcreatingassessmentswhichstemfromteachingandlearning and the study of Economics, ensuring that the focus is on what is best for the learners.

Aimsandlearningoutcomes

OCR’s GCSE (9–1) in Economics will encourage learnersto:

• understandhowmarketsoperateandthe roles of consumers, producers or workers within markets

• understandhowtheeconomyworksnationallyandgloballyandtheleversemployedbygovernmentstoreachdesiredsocialandeconomicobjectives

• activelyengageinthestudyofEconomics todevelopaseffective,self-motivatedstudents,andascritical,reflectivethinkers withenquiringminds,abletodistinguishbetween fact and opinion

• understandandapplytheireconomicknowledgeandskillstoinvestigatecurrent

andhistoricaleconomicsituationsandissuesinarangeofnationalandglobalcontexts

• buildeconomicarguments,makinginformedjudgements by using economic concepts and quantitativeevidencethroughtheuse,applicationandinterpretationofdata

• understandtheperspectivesofdifferenteconomic agents, including consumers, producersandgovernmentinrelationtoeconomicactivity

• readeconomicarticlestoappreciatehowleading economists approach economic problems

• considermoral,ethicalandsustainability issues that arise as a result of the impact of economicactivity.

4© OCR 2016

GCSE (9–1) in Economics

1

1c. Whatarethekeyfeaturesofthisspecification?

OCR’s GCSE (9–1) in Economics has two mandatory components. In each component there is a degree of flexibilityinhowstudyisundertaken.

Learnerswilldevelopasoundunderstandingof themaineconomicconceptsandappreciationforhoweconomicissuesaffectourlives.ThiscourseappealstolearnersstudyingEconomicsforthefirsttimeandaimstodevelopanenthusiasmthatwillencourage them to progress to further study in Economics.

Weprovideteacherswithcomprehensiveteachingand learning resources to support the planning anddeliveryofthisspecificationfromdayoneincluding:

• DeliveryGuidesofferingadviceandguidanceforteachersincludinghowtodelivertheoryinapracticalsetting,approachestoassessmentand choosing texts appropriate for the component

• PlanningGuidesofferinginformationonkeyaspects of the course to support curriculum planning

• QualificationFactSheetsandPracticeQuestionsofferingsummarisedinformationonkey themes suitable for teachers, learners and parents

• CPD:www.cpdhub.ocr.org.uk.

1d. WhatisnewinOCR’sGCSE(9–1)inEconomics

ThissectionisintendedforteachersusingOCR’sGCSE(9–1)inEconomics.Ithighlightsthedifferencesbetween the current OCR GCSE Economics (J320) and

thisnewversionforfirstteachingfromSeptember2017:

What stays the same? What’schanging?

• Thisisanexternallyassessedqualification

• AllocationofthethreeAssessmentObjectivesremainsverysimilar(legacy34.7%34.7%30.7%,new35.0%,35.0%,30.0%)

• Assessmentisattheendofthecourse

• Contentandstructurearefamiliaralthoughupdated and streamlined

• Keytopicareashavestayedthesame

• ComprehensiveandengagingintroductiontoEconomics.

• Theassessmentconsistsoftwoexams, 90 minutes each

• Thereisnolongeranypre-releasestimulusmaterial

• Explicitapplicationandassessmentofquantitativeskills(minimumof10%ofoverallmarks)atthelevelofKeyStage3Maths

• BothquestionpapershaveasectionwithMultipleChoiceQuestions

• Contentstreamlinedtoallowformoreapplicationtoreallifeexamples.

5© OCR 2016 GCSE (9–1) in Economics

1

1e. HowdoIfindoutmoreinformation?

IfyouarealreadyusingOCRspecifications,youcanfindoutmoreinformationat:

www.ocr.org.uk

IfyouwouldliketobecomeanapprovedOCRcentre,youcanfindoutmoreinformationat:

www.ocr.org.uk/i-want-to/become-an-approved- centre

WehaveadedicatedteamofSubjectAdvisorsworkingonourqualifications.OurEconomicsSubjectAdvisorsarepartoftheHumanitiesandSocialSciencesteam:

www.ocr.org.uk/qualifications/by-subject/economics/

AskourEconomicsSubjectAdvisors:

Email:economics@ocr.org.uk

Phone:01223553998

Twitter:@OCR_BusEcon

E-bulletins:www.ocr.org.uk/updates

Community:www.ocr.org.uk/community

2

6© OCR 2016

GCSE (9–1) in Economics

2a. OCR’s GCSE (9–1) in Economics (J205)

All learners must take components 01 and 02 to be awarded the OCR GCSE (9–1) in Economics.

ContentOverview AssessmentOverview

• IntroductiontoEconomics

• Theroleofmarketsandmoney

IntroductiontoEconomics

(J205/01)*

80Marks

1 hour 30 minute writtenpaper

50%of totalGCSE(9–1)

• Economicobjectivesandtheroleofgovernment

• Internationaltradeandtheglobal economy

NationalandInternational

Economics

(J205/02)*

80Marks

1 hour 30 minute writtenpaper

50%of totalGCSE(9–1)

*indicatesinclusionofsynopticassessment(seeSection3h).

2 Thespecificationoverview

2

7© OCR 2016 GCSE (9–1) in Economics

2b. Content of GCSE (9–1) in Economics (J205)

OCR’s GCSE (9–1) in Economics encourages learners tothinkaseconomistsanddeveloptheappropriaterangeofanalytical,criticalandreasoningskillstoachievethisobjective.

Thisqualificationwillteachlearnerstoexplain,analyseandevaluatetheroleofmarketsandthegovernmentwithinamarketeconomy.Theywilllearnabout the basic market models and are encouraged to deepen their understanding of the economic conceptsstudiedbyapplyingthesetorelevantcurrentandhistoricaleconomicissues.Thisshouldincludereadingarticleswitheconomicdata,graphicalrepresentationsordiscussionsofeconomicproblems.

Learnerswillbeencouragedtomakereasonedandinformedjudgementsusingbothqualitativeandquantitativeevidence.Theywilllearnhowtoselect

and interpret data as well as understand its possible limitations.

OCR’sGCSE(9–1)inEconomicsprovidesanengagingandcomprehensiveintroductiontoEconomicsdrawingonlocal,nationalandglobalcontexts.

Component 01 introduces learners to the main economic agents, the basic economic problem and the role of markets, including the labour market and theimportanceofthefinancialsector.

Component 02 focusses on the main economic objectives,suchaseconomicgrowth,lowunemployment,fairdistributionofincomeandpricestability,andotherrolesofgovernment.Otheraspectsaretheimportanceofinternationaltradeandtheimpactofglobalisation.

Commandwords

Pleasenotethatinthecontextofthisspecification:

• ‘explain’ refers to the ability to demonstrate knowledgeandunderstanding:

• bystatingadefinition,explainingaconceptorgivinganexample

• and/or to apply knowledge and understanding to a context

• ‘analyse’encompassestheabilityto‘explain’,and refers to the ability to present logical chains of reasoning

• ‘evaluate’encompassestheabilityto‘explain’and to ’analyse’ and refers to the ability to weigh up both sides of the argument, or to comparealternatives,andtocometoasupported judgement

• ‘draw’ refers to the ability to construct and label a diagram appropriately as outlined in Appendix5dofthisspecification

• ‘calculate’ refers to the ability to apply quantitativeskillsasoutlinedinAppendix5dofthisspecification.

2

8© OCR 2016

GCSE (9–1) in Economics

2c. ContentofJ205/01–IntroductiontoEconomics

Thiscomponentintroduceslearnerstothefundamental economic terms and concepts. Learnerswillapplythesetoinvestigateandexplainhow markets work in contemporary and historical economic contexts.

Theywillstudythedifferentrolesandperspectives of the main economic agents (consumers, producers andthegovernment)andhowtheyinteractintheeconomy.

Learnerswilldeveloptheabilitytouseand interpretquantitativedatatojustifyeconomicdecisions.

Theywilllearntoappreciatethatalleconomicchoiceshavecostsandbenefits.Thiswillencouragethem to consider moral, ethical and sustainability issues that arise as a result of the impact of economicactivityinarangeofnationaland global contexts.

Pleasenote:All terms in bold are key terms learners should be familiar with and learners should be able to explain their meaning.FortheuseandmeaningofcommandwordspleaseseeSection2b.

1.IntroductiontoEconomics

Topic Learners should be able to

1.1 Main economic groups and factors of production

• explaintheroleofthemaineconomicgroups:consumers, producers and the government, including their interdependence

• explainthefactorsofproduction:land,labour,capitalandenterprise,including how they might be combined

1.2Thebasiceconomicproblem

• explainwhatismeantbyscarceresources and unlimitedwants

• explaintheeconomicproblem,includingthequestionsofhowresourcesshouldbeallocated,what,forwhomandhowgoodsandservicesshouldbeproduced

• explainwhatismeantbyopportunitycost

• evaluatethecostsandbenefitsofeconomic choices, including the impact on economic,social and environmental sustainability.

2

9© OCR 2016 GCSE (9–1) in Economics

2.Theroleofmarketsandmoney

Topic Learners should be able to

2.1Theroleofmarkets

• explainwhatismeantbyamarket

• explainthefeaturesoftheprimary, secondary and tertiary sectors, including the differencebetweentheproductionofgoods and services

• explainthedifferencebetweenfactor and product markets, including their interdependence

• evaluatethecostsandbenefitsofspecialisation and exchange in markets including for producers, workers, regions and countries

2.2 Demand • explainwhatismeantbydemand

• drawandexplainademand curveusingdata,includingindividualandmarketdemand

• drawshiftsof,andmovementsalong,thedemandcurve

• analysethecausesandconsequencesforconsumersandproducers,ofshiftsof,andmovementsalong,thedemandcurve

• explainprice elasticity of demand

• drawdemandcurvesofdifferentelasticity

• evaluatetheimportanceofpriceelasticityofdemandforconsumersandproducers

2.3 Supply • explainwhatismeantbysupply

• drawandexplainasupply curveusingdata,includingindividualandmarketsupply

• drawshiftsof,andmovementsalong,thesupplycurve

• analysethecausesandconsequencesforconsumersandproducers,ofshiftsof,andmovementsalong,thesupplycurve

• explainprice elasticityof supply

• drawsupplycurvesofdifferentelasticity

• evaluatetheimportanceofpriceelasticityofsupplyforconsumersandproducers

2.4 Price • explainpriceasareflectionofworthanditsroleindetermininganefficientdistributionofresources

• explainwhatismeantbyequilibriumprice and quantity

• drawandanalysetheinteractionofdemandandsupply

• explaintheroleofmarketsinthedetermination of price and the allocation of resources

• analysehowthemarketforcesofdemandandsupplyaffectequilibrium price and quantity

2

10© OCR 2016

GCSE (9–1) in Economics

Topic Learners should be able to

2.5Competition • explaincompetition between producers in a marketeconomy, including the reasons why producers compete

• analysehowcompetitionaffectsprice

• evaluatetheeconomicimpactofcompetitiononproducersandconsumers

• explainthemeaningofmonopoly and oligopolyandhowtheydifferfromcompetitivemarkets

2.6Production • explaintheroleofproducers,includingindividuals,firmsandthegovernment

• evaluatetheimportanceofproduction and productivity for the economy

• calculateandexplaintotal cost, average cost, totalrevenue, averagerevenue, profitandloss

• evaluatetheimportanceofcost, revenue, profit and loss for producers, including howcostsandrevenuesaffectprofitandsupply

• explainwhatismeantbyeconomies of scale

2.7Thelabourmarket

• explaintheroleandoperationofthelabour market,includingtheinteractionbetween workers and employers

• analysethedeterminationofwagesthroughsupplyanddemand,includingfactorsaffectingthesupplyanddemandoflabour

• explainandcalculategross and net pay,includingdeductionsthroughincome tax, nationalinsurance and pensioncontributions

2.8Theroleofmoney and financialmarkets

• explaintheroleofmoney as a mediumofexchange

• explaintheroleofthefinancial sectorfortheeconomy,includingfinancialinstitutionssuchasbanks, buildingsocieties and insurance companies

• evaluatetheimportanceofthefinancialsectorforconsumers,producersandgovernment

• analysehowdifferentinterestratesaffectthelevelsofsaving, borrowing and investment

• calculatetheeffectonsavingsandborrowingsofchangesintherateofinterest.

2

11© OCR 2016 GCSE (9–1) in Economics

2c. ContentofJ205/02–NationalandInternationalEconomics

Thiscomponentprovideslearnerswithanunderstandingofthemaineconomicobjectivesandroleofthegovernmentinachievingthem.

Learnerswillinvestigatetheeffectsofeconomicpoliciesonmarkets.Theywilluseandinterpretquantitativeevidence,suchasunemploymentfigures,in contemporary and historical economic contexts.

Theywilllearntoappreciatetheimportanceandimpactofinternationaltradebyanalysingdatasuchasquantitativeinformationonexportsandimports.

Learnersareencouragedtoconsidermoral,ethicaland sustainability issues that arise as a result of the impactofeconomicactivityinarangeofnationalandglobal contexts.

Pleasenote:All terms in bold are key terms learners should be familiar with and learners should be able to explain their meaning.FortheuseandmeaningofcommandwordspleaseseeSection2b.

3.Economicobjectivesandtheroleofgovernment

Topic Learners should be able to

3.1 Economic growth

• explainwhatismeantbyeconomicgrowth

• calculateandexplainhoweconomicgrowthismeasuredwithreferencetoGrossDomesticProduct (GDP) and GDPpercapita

• analyserecentandhistoricalGDPdata

• analysethedeterminantsofeconomicgrowth,includinginvestment,changesintechnology,sizeofworkforce,educationandtraining,availabilityofnaturalresourcesandgovernmentpolicies

• evaluatethecostsandbenefitsofeconomicgrowth,includingtheimpactoneconomic,socialandenvironmentalsustainability

3.2Lowunemployment

• explainwhatismeantbyemployment and unemployment

• explainhowunemploymentismeasuredusingtheClaimantCount

• calculatetheunemploymentrate

• analyserecentandhistoricalunemploymentfigures

• explainthetypesofunemployment, including cyclical, frictional, seasonal and structural unemployment

• evaluatethecausesandconsequencesofunemploymentforindividuals,regionsandthegovernment

3.3Fairdistributionof income

• explainwhatismeantbythedistributionofincome,includingdifferenttypesofincomeandthedifferencebetweenincome and wealth

• calculateincomeandwealth

• evaluatethecausesofdifferencesinthedistributionofincomeandwealthandthe consequences for an economy

2

12© OCR 2016

GCSE (9–1) in Economics

Topic Learners should be able to

3.4 Price stability • explainwhatismeantbypricestability and inflation,includingthedifferencebetween real and nominalvalues

• explainhowinflationismeasuredusingtheConsumerPriceIndex(CPI)

• calculatetheeffectofinflationonprices

• analyserecentandhistoricalinflationfigures

• evaluatethecausesofinflationandtheconsequencesforconsumers,producers,saversandthegovernment

3.5 Fiscal policy • explainpurposesofgovernmentspending and sources ofgovernmentrevenue, including directtaxesandindirecttaxes

• explainwhatismeantbyabalanced governmentbudget, budget surplus and budget deficit

• explainwhatismeantbyfiscalpolicyand how it canbeusedtoachieveeconomicobjectives

• calculateandanalysehowtaxesandgovernmentspendingcanaffectmarketsaswellastheoveralleconomy

• evaluatethecosts,includingopportunitycost,andthebenefitsoffiscalpolicyontheeconomytoachieveeconomicobjectives

• evaluateeconomicconsequencesofmeasurestoredistributeincomeandwealth, including progressivetaxes

3.6Monetarypolicy • explainwhatismeantbymonetarypolicyand how it canbeusedtoachieveeconomicobjectives

• analysehowmonetarypolicycanaffectgrowth,employmentandpricestability

• evaluatetheeffectsofmonetarypolicyonconsumerspending,borrowing,savingandinvestment

3.7 Supply side policies

• explainwhatismeantbysupplysidepolicyandhowitcanbeusedtoachieveeconomicobjectives

• evaluatethecosts,includingopportunitycost,andthebenefitsofsupplysidepolicies for the economy

3.8Limitationsofmarkets

• explainwhatismeantbypositive and negativeexternalities

• explaingovernmentpoliciestocorrectpositiveandnegativeexternalities,including taxation and subsidies,stateprovision, legislation and regulation and information provision

• evaluatetheuseandimpactofgovernmentpoliciestocorrectpositiveandnegativeexternalities

• evaluatethecosts,includingopportunitycost,andthebenefitsofgovernmentpoliciestocorrectpositiveandnegativeexternalities.

2

13© OCR 2016 GCSE (9–1) in Economics

4.Internationaltradeandtheglobaleconomy

Topic Learners should be able to

4.1 Importance of internationaltrade

• explainwhycountriesimportandexportgoodsandservicesandthebenefitsof this for consumers and producers

• explainfreetradeagreements including the EuropeanUnion

4.2 Balance of payments

• explainthebalanceofpaymentsoncurrentaccount

• explainthemeaningofabalanced currentaccount, a currentaccountsurplus and currentaccountdeficit

• calculatedeficitsandsurpluses

• analyserecentandhistoricaldataonexportsandimports

• evaluatetheimportanceofthebalanceofpaymentsoncurrentaccounttotheUK economy

• evaluatethecausesofsurplusesanddeficitsofthebalanceofpaymentsoncurrent account

4.3 Exchange rates • drawandanalysehowexchangeratesaredeterminedthroughtheinteractionof supply and demand

• calculatecurrencyconversion

• analyserecentandhistoricalexchangeratedata

• evaluatetheeffectofchangesintheexchangerateonconsumersandproducers

4.4Globalisation • explainglobalisation,includingitsdrivingfactors

• explainhowdevelopment is measured, including GDP per capita, life expectancy,accesstohealthcare,technologyandeducation

• evaluatethecostsandbenefitsofglobalisationtoproducers,workersandconsumers in developed countries, including the impact on economic, social andenvironmentalsustainability

• evaluatethecostsandbenefitsofglobalisationtoproducers,workersandconsumers in lessdevelopedcountries, including the impact on economic, socialandenvironmentalsustainability.

2

14© OCR 2016

GCSE (9–1) in Economics

2d. Priorknowledge,learningandprogression

No prior knowledge of Economics is required.

GCSE(9–1)inEconomicsinvolvestheapplicationofquantitativeskillsatalevelofdemandwhichisnotlowerthanKeyStage3Mathematics.

LearnerswhoarebeginningtostudyGCSE(9–1)inEconomicsmighthavecoveredsomeaspectsofpersonalfinancewithinPSHE.

Thiscoursehelpstodeveloplogicalreasoning,soundanalysisandcriticalevaluationskills.Theseskillswill

beusefultolearnerswhatevertheirrouteofprogression.

AllOCRGCSEs(9–1)arequalificationsthatenablelearnerstoprogressfurthertoeitherVocationalorGeneralQualifications.

ThisqualificationprovidestheidealfoundationforlearnerstoprogresstoASandALevelinEconomics.

TofindoutmoreaboutourEconomicsqualifications,pleasevisit:www.ocr.org.uk/economics.

3

15© OCR 2016 GCSE (9–1) in Economics

3a. Formsofassessment

OCR’s GCSE (9–1) in Economics is a fully linear course and consists of two mandatory components. Each componentisexternallyassessedusingaquestionpaper.

Thestructureofthetwoquestionpapersisidentical.

Eachquestionpaperhas20multiplechoicequestionsin part A.

PartBconsistsofthreequestions,eachwithashortcase study and related short and medium response questionsaswellastheopportunityforextendedresponse.

BothquestionpapersassessthequantitativeskillsasoutlinedinAppendix5cofthisspecification.

Themaximumnumberofmarksforeachquestionpaperis80marks,so160marksintotal.Eachofthetwoquestionspaperscounttowards50%ofthequalification.

Thetimeallowedforeachquestionpaperis1hourand 30 minutes.

3 Assessment of GCSE (9–1) in Economics

3b. Assessmentobjectives(AO)

TherearethreeAssessmentObjectivesinOCRGCSE(9–1)inEconomics.Thesearedetailedinthe table below:

AssessmentObjective

AO1 Demonstrate knowledge and understanding of economic concepts and issues

AO2 Applyknowledgeandunderstandingofeconomicconceptsandissuestoavarietyofcontexts

AO3 Analyseandevaluateeconomicevidenceandissuestodemonstrateunderstandingofeconomicbehaviour,makejudgementsanddrawconclusions

2

3

16© OCR 2016

GCSE (9–1) in Economics

3c. Commandwords

ThecommandwordsusedintheassessmentforOCR’sGCSE(9–1)inEconomicsreflectwhichAssessmentObjectiveisbeingassessed.Thetablebelowoutlinesthisrelationship:

AssessmentObjective Commandwords

AO1

Demonstrate knowledge and understanding of economic concepts and issues

State

Giveanexample

Explain

Calculate

Draw

AO2

Apply knowledge and understanding of economic conceptsandissuestoavarietyofcontexts

AO3

Analyseandevaluateeconomicevidenceandissuesto demonstrate understanding of economic

behaviour,makejudgementsanddrawconclusions

Analyse

Evaluate

3d. AOweightingsinOCRGCSE(9–1)Economics

TherelationshipbetweentheAssessmentObjectivesandthecomponentsareshowninthefollowingtable:

Component%ofoverallGCSE(9–1)inEconomics(J205)

AO1 AO2 AO3

IntroductiontoEconomics(J205/01) 17.5% 17.5% 15%

NationalandInternationalEconomics(J205/02) 17.5% 17.5% 15%

Total 35% 35% 30%

3e. Assessmentavailability

Therewillbeoneexaminationseriesavailableeachyear in May/June to alllearners.

All examined components must be taken in the same examinationseriesattheendofthecourse.

ThisspecificationwillbecertificatedfromtheJune2019examinationseriesonwards.

3

17© OCR 2016 GCSE (9–1) in Economics

3f. Retakingthequalification

Learnerscanretakethequalificationasmanytimesasthey wish.

Theymustretakeallcomponentsofthequalificationif they wish to do this.

3g. Assessmentofextendedresponse

Theassessmentmaterialsforthisqualificationprovidelearnerswiththeopportunitytodemonstratetheirabilitytoconstructanddevelopasustainedandcoherent line of reasoning.

Marks for extended responses are integrated into the marksallocatedforthelevel.

Thequalityofextendedresponsewillbeassessedinquestions21(d)(iii),22(d)(iii)and23(d)(iii)ineachcomponent.Thesequestionswillbemarkedwithanasterisk (*).

3h. Synopticassessment

Synopticassessmentreferstothelearners’understandingoftheconnectionsbetweenthevariouselementsofthesubject.

OCR’sGCSE(9–1)inEconomicsinvolvesthedrawingtogether of knowledge, skills and understanding between the subject content of Component 01 andthatofComponent02.Thisequipslearners withaholisticunderstandingofthesubjectwhich

willhelpthemtodeveloptheabilityto‘thinkaseconomists’.

Synopticassessmentisfoundineachofthe6-markquestionsinSectionB(21(c),21(d)(iii),22(c), 22 (d)(iii), 23 (c) and 23 (d)(iii)) in each of the two components.Thiswillenablelearnerstodrawupontheir knowledge and understanding from the full rangeofcontentfromthespecification.

3i. Calculatingqualificationresults

Alearner’soverallqualificationgradeforGCSE(9–1)in Economics will be calculated by adding together theirmarksfromthetwocomponentstakentogivetheir total weighted mark.

Thismarkwillthenbecomparedtothequalificationlevelgradeboundariesfortheentryoptiontakenbythelearnerandfortherelevantexamseriestodeterminethelearner’soverallqualificationgrade.

3

4

18© OCR 2016

GCSE (9–1) in Economics

Theinformationinthissectionisdesignedtogiveanoverviewoftheprocessesinvolvedinadministeringthisqualificationsothatyoucanspeaktoyourexamsofficer.AllofthefollowingprocessesrequireyoutosubmitsomethingtoOCRbyaspecificdeadline.

MoreinformationabouttheprocessesanddeadlinesinvolvedateachstageoftheassessmentcyclecanbefoundintheAdministrationareaoftheOCRwebsite.

OCR’s Admin overviewisavailableontheOCRwebsiteat http://www.ocr.org.uk/administration

4 Administration:whatyouneedtoknow

4a. Pre-assessment

Estimatedentries

Estimatedentriesareyourbestprojectionofthenumber of learners who will be entered for a qualificationinaparticularseries.Estimatedentries

shouldbesubmittedtoOCRbythespecifieddeadline.Theyarefreeanddonotcommityourcentre in any way.

Finalentries

FinalentriesprovideOCRwithdetaileddataforeachlearner, showing each assessment to be taken. It is essentialthatyouusethecorrectentrycode,consideringtherelevantentryrules.

FinalentriesmustbesubmittedtoOCRbythepublished deadlines or late entry fees will apply.

All learners taking a GCSE (9–1) in Economics must be entered for J205.

Entrycode

Title Component code

Componenttitle Assessment type

J205 Economics 01 IntroductiontoEconomics External Assessment

02 NationalandInternationalEconomics External Assessment

4b. Specialconsideration

Specialconsiderationisapost-assessmentadjustmenttomarksorgradestoreflecttemporaryinjury,illnessorotherindispositionatthetimetheassessment was taken.

DetailedinformationabouteligibilityforspecialconsiderationcanbefoundintheJCQpublication A guide to the special consideration process.

4

19© OCR 2016 GCSE (9–1) in Economics

4c. Externalassessmentarrangements

RegulationsgoverningexaminationarrangementsarecontainedintheJCQpublicationInstructions for conducting examinations.

Learnersarepermittedtouseascientificorgraphicalcalculator for both components. Calculators are subject to the rules in the document Instructions for Conducting Examinations published annually by JCQ (www.jcq.org.uk).

Headofcentreannualdeclaration

TheHeadofCentreisrequiredtoprovideadeclarationtotheJCQaspartoftheannualNCNupdate,conductedintheautumnterm,toconfirmthatthecentreismeetingalloftherequirementsdetailedinthespecification.Anyfailurebyacentreto

providetheHeadofCentreAnnualDeclarationwillresult in your centre status being suspended and couldleadtothewithdrawalofourapprovalforyouto operate as a centre.

4d. Resultsandcertificates

GradeScale

GCSE(9–1)qualificationsaregradedonthescale:9–1,where9isthehighest.Learnerswhofail to reach the minimum standard of 1 will be

Unclassified(U).Onlysubjectsinwhichgrades9to1areattainedwillberecordedoncertificates.

Privatecandidates

PrivatecandidatesmayenterforOCRassessments.

Aprivatecandidateissomeonewhopursuesacourseofstudyindependentlybuttakesanexaminationorassessmentatanapprovedexaminationcentre.Aprivatecandidatemaybeapart-timestudent,someone taking a distance learning course, or someonebeingtutoredprivately.Theymustbebasedin the UK.

PrivatecandidatesneedtocontactOCRapprovedcentres to establish whether they are prepared to hostthemasaprivatecandidate.Thecentremaycharge for this facility and OCR recommends that the arrangement is made early in the course.

FurtherguidanceforprivatecandidatesmaybefoundontheOCRwebsite:http://www.ocr.org.uk

3

4

20© OCR 2016

GCSE (9–1) in Economics

4f. Post-resultsservices

Anumberofpost-resultsservicesareavailable:

• Enquiriesaboutresults – If you are not happy with the outcome of a learner’s results, centres may submit an enquiry about results

• Missingandincompleteresults–Thisserviceshouldbeusedifanindividualsubjectresult

for a learner is missing, or the learner has been omittedentirelyfromtheresultssupplied

• Accesstoscripts – Centres can request access to marked scripts.

4g. Malpractice

Anybreachoftheregulationsfortheconduct ofexaminationsandnon-examassessment mayconstitutemalpractice(whichincludesmaladministration)andmustbereportedto OCR as soon as it is detected.

DetailedinformationonmalpracticecanbefoundinthecurrentJCQpublicationSuspected Malpractice in Examinations and Assessments.

4e. Results

Results are released to centres and learners for informationandtoallowanyqueriestoberesolvedbeforecertificatesareissued.

Centreswillhaveaccesstothefollowingresultsinformationforeachlearner:

• thegradeforthequalification

• therawmarkforeachcomponent

• thetotalweightedmarkforthequalification.

Thefollowingsupportinginformationwillbeavailable:

• rawmarkgradeboundariesforeachcomponent

• weightedmarkgradeboundariesforthequalification.

Untilcertificatesareissued,resultsaredeemedtobeprovisionalandmaybesubjecttoamendment.

Alearner’sfinalresultswillberecordedonanOCRcertificate.Thequalificationtitlewillbeshownonthecertificateas‘OCRLevel1/Level2GCSE(9–1)inEconomics’.

5

21© OCR 2016 GCSE (9–1) in Economics

5a. Overlapwithotherqualifications

ThereissomeoverlapbetweenthecontentofthisspecificationandthatforOCR’sASandALevelinEconomics to allow for progression.

ThereisnooverlapbetweenthecontentofthisspecificationandthatofotherOCRGCSE(9–1)levelqualifications.

5 Appendices

5b. Accessibility

Reasonable adjustments and access arrangements allowlearnerswithspecialeducationalneeds,disabilitiesortemporaryinjuriestoaccesstheassessment and show what they know and can do, without changing the demands of the assessment.

Applicationsfortheseshouldbemadebeforetheexaminationseries.Detailedinformationabouteligibility for access arrangements can be found in the

JCQ Access Arrangements and Reasonable Adjustments.

TheGCSE(9–1)qualificationandsubjectcriteriahavebeenreviewedinordertoidentifyanyfeaturewhichcoulddisadvantagelearnerswhoshareaprotectedCharacteristicasdefinedbytheEqualityAct2010.Allreasonablestepshavebeentakentominimiseanysuchdisadvantage.

5c. Quantitativeskillsrequirement

Thelistbelowstatestherangeandextentofquantitativeskillsappropriatetothesubjectcontentof GCSE (9–1) in Economics.

Drawing on the knowledge and understanding as outlinedinsection2(c),learnersarerequiredtoapplytheseskillstorelevanteconomiccontexts.

Calculations

1. calculationofpercentagesandpercentagechanges,includinginterestonsavings

2. calculationofaverages,includingcost

3. calculationoftotals,includingrevenue,costsandprofit

4. calculationofincome,includinggrossandnetpay

Constructionofgraphs

5. constructionofgraphsfromdata,includingsupplyanddemandcurves

Interpretationanduseofquantitativedatatosupportandjustifyeconomicdecisions

6. interpretationanduseofinformationfromgraphsandcharts

7. interpretationanduseofeconomicdata,suchasunemploymentfigures,exportsandimports.

5

22© OCR 2016

GCSE (9–1) in Economics

5d. Assessmentofquantitativeskills

Atleast10%ofthetotalGCSEmarksrewardtheuseofquantitativeskillsatalevelofdemandwhichisnotlower than that which is expected of learners at Key Stage 3.

Questionsandtasksrewardingtheuseof quantitativeskillsassessthoseskillswithinthe

context of other areas of the subject content, andnotinisolation.

Quantitativeskillsareassessedacrossarangeoflevelsofdemand,whichsupportseffectivedifferentiationinrelationtothequalification.

23© OCR 2016 GCSE (9–1) in Economics

Summaryofupdates

Date Version Section Titleofsection Change

April2018 1.1 4d Resultandcertificates Amendtocertificationtitling

24© OCR 2016

GCSE (9–1) in Economics

Our aim is to provide you with all the information and support you need to deliver our specifications.

¨ Bookmark ocr.org.uk/gcseeconomics for all the latest resources,information and news on GCSE (9-1) Economics

¨ Be among the first to hear about support materials and resourcesas they become available – register for Economics updates at ocr.org.uk/updates

¨ Find out about our professional development at cpdhub.ocr.org.uk

¨ View our range of skills guides for use across subjects and qualificationsat ocr.org.uk/skillsguides

¨ Learn more about Active Results at ocr.org.uk/activeresults

¨ Join our Economics social network community for teachersat social.ocr.org.uk

YOUR CHECKLIST

¨ Bookmark ocr.org.uk/gcseeconomics for all the latest resources,

OCR is part of the Cambridge Assessment Group, a department of the University of Cambridge.

For staff training purposes and as part of our quality assurance programme your call may be recorded or monitored. ©OCR 2018 Oxford Cambridge and RSA Examinations is a Company Limited by Guarantee. Registered in England. Registered office 1 Hills Road, Cambridge CB1 2EU. Registered company number 3484466. OCR is an exempt charity.

ocr.org.uk/gcseeconomics

6220575550

Download high-quality, exciting and innovative GCSE (9-1) Economics resources from ocr.org.uk/gcseeconomics

Resources and support for our GCSE (9-1) Economics qualifications, developed through collaboration between our Economics Subject Advisors, teachers and other subject experts, are available from our website. You can also contact our Economics Subject Advisors who can give you specialist advice, guidance and support.

Contact the team at: 01223 553998 economics@ocr.org.uk @OCR_BusEcon

To stay up to date with all the relevant news about our qualifications, register for email updates at ocr.org.uk/updates

Economics CommunityThe social network is a free platform where teachers can engage with each other – and with us – to find and offer guidance, discover and share ideas, best practice and a range of Economics support materials. To sign up, go to social.ocr.org.uk

follow us on

facebook.com/ocrexams

linkedin.com/company/ocr

@OCR_BusEcon youtube.com/ocrexams