2 marks The student has prepared and presented a document in accordance with economic/academic purpose and format by: • academically acceptable format 1. consistent font 2. consistent font size 3. double spacing • maintaining a word limit of 1000 words • providing a logical development of ideas and structure via linking sentence.

2.4 The student has not prepared and presented a document in accordance with economic/academic purpose and format as: • the format is unacceptable. The commentary includes 1. inconsistent font 2. inconsistent font size 3. single spacing • the word limit of 1000 is exceeded by more than 20% • the commentary does not have a logical development of ideas and structure. The student has prepared and presented a document in accordance with economic/academic purpose and format by: • academically acceptable format 1. consistent font 2. consistent font size 3. double spacing • maintaining a word limit of 1000 words with a 10% margin • providing a logical development of ideas and structure via linking sentence Some errors are acceptable providing they are not systemic.

The student has demonstrated the ability to present an academically acceptable commentary by: • researching relevant and supporting economic data/information • researching reliable economic data/information from such sources as, but not limited to, tradingeconomics,abs.gov.au,rba.gov.au and budget.gov.au • analyzing, interpreting and evaluating the researched economic data/information and using it appropriately on at least one (1) occasion in each of the following sections: • Summary of Article • Balance of Payments • Economic impact • Exchange Rates The student has demonstrated the ability to present an academically acceptable commentary by: • researching relevant and supporting economic data/information • researching reliable economic data/information from such sources as, but not limited to, tradingeconomics,abs.gov.au,rba.gov.au and budget.gov.au • analyzing, interpreting and evaluating the researched economic data/information and using it appropriately on at least two (2) occasions in each of the following sections: • Summary of Article • Balance of Payments • Economic impact • Exchange Rates

2.2 Entire Commentary The student has not demonstrated the ability to present an academically acceptable commentary as: • researched relevant and supporting economic data/information is not evident • the researching of reliable economic data/information from such sources as, but not limited to, trading economics, abs.gov.au, rba.gov.au and budget.gov.au is not evident • analyzing, interpreting and evaluating the researched economic data/information and using it appropriately on at least one (1) occasion in each of the following sections has not been done successfully • Summary of Article • Balance of Payments • Economic impact • Exchange Rates

3.4 Conclusion The student has not demonstrated the ability to synthesise evidence and draw conclusions as: • a linking of the main points in the article to the government's pursuit of economic sustainability is not evident The student has demonstrated the ability to synthesise evidence and draw conclusions by: • linking the main points in the article to the government's pursuit of economic sustainability The student has demonstrated the ability to synthesise evidence and draw conclusions by: • linking the main points in the article to the government's pursuit of economic sustainability specifically in terms of Australia's current economic growth (GDP), unemployment and inflation.

Satisfactory Above Satisfactory The student has demonstrated the ability to outline the strengths and weaknesses of specific economic policies/decisions by: • stating that Australia adopted a floating exchange rate • linking the main points of the article to the likely impact on the Australian dollar in terms of appreciation or depreciation • outlining the likely positive and negative impact on the Balance of Payments (external stability) as a result of the above appreciation or depreciation of the Australian dollar The student has demonstrated the ability to outline the strengths and weaknesses of specific economic policies/decisions by: • stating that Australia adopted a floating exchange rate as a part of Micro Economic Reform • providing an explanation of how the Australian dollar is determined • accurately linking the main points of the article to the likely impact on the Australian dollar in terms of appreciation or depreciation • accurately outlining the likely positive and negative impact on the BOGS, NPY and the Current A/c Deficit within the Balance of Payments as a result of the above appreciation or depreciation.

1.7 Exchange Rates The student has not demonstrated the ability to outline the strengths and weaknesses of specific economic policies/decisions as: • the stating that Australia adopted a floating exchange rate is not evident • a clear link between the main points of the article to the likely impact on the Australian dollar in terms of appreciation or depreciation is not evident • outlining the likely positive and negative impact on the Balance of Payments (external stability) as a result of the above appreciation or depreciation of the Australian dollar is not evident

3-4 marks The student has demonstrated the ability to analyse and interpret economic data/information from the article in relation to the performance of the Australian economy by: • outlining the likely economic impact on three (3) sectors from the circular flow model • outlining the likely impact on unemployment, GDP and the government budget • stating specific economic data regarding unemployment, GDP and government budget

1.6 Economic Impact The student has not demonstrated the ability to analyse and interpret economic data in relation to the performance of the Australian economy as: • the likely economic impact is limited to two (2) sector only from the circular flow or • an outline of the likely impact on unemployment, GDP and the government budget is not evident The student has demonstrated the ability to analyse and interpret economic data/information from the article in relation to the performance of the Australian economy by: • outlining the likely economic impact on three (3) sectors from the circular flow model or • outlining the likely impact on unemployment, GDP and the government budget

3 marks The student has demonstrated the ability to link analysed and interpreted economic data/information from the article relating to economic measures and principles by: • stating the likely impact on the Balance on Goods and Services • stating the likely impact on the Balance on Current A/c • stating the likely impact on the Financial A/c • stating the likely impact on the Net Primary A/c.

1.7 Impact on the Balance of Payments The student has not demonstrated the ability to link analysed and interpreted economic data/information from the article relating to economic measures and principles as: • the likely impact on the Balance on Goods and Services is not evident • the impact on the Balance on Current A/c is not evident or • the impact on the Financial A/c is not evident • the impact on the Net Primary A/c is not evident. The student has demonstrated the ability to link analysed and interpreted economic data/information from the article relating to economic measures and principles by: • stating the likely impact on the Balance on Goods and Services • stating the likely impact on the Balance on Current A/c or • stating the likely impact on the Financial A/c • stating the likely impact on the Net Primary A/c.

Satisfactory Above Satisfactory In summarising the article, the student has identified and outlined major policy issues in relation to the Australian economy by: • clearly linking the main points of the article to external stability in terms of exports, imports or foreign investment • clearly linking economic data from the article to external stability in terms of exports, imports or foreign investment or • a clear linking of the main ideas of the article to the likely economic impact on the Australian economy • clearly linking the main ideas of the article to the likely impact on National income. In summarising the article, the student has identified and outlined major policy issues in relation to the Australian economy by: • clearly linking the main points of the article to external stability in terms of exports, imports or foreign investment • clearly linking economic data from the article to external stability in terms of exports, imports or foreign investment • a clear linking of the main ideas of the article to the likely economic impact on the Australian economy • clearly linking the main ideas of the article to the likely impact on National income.

1.5 2.4 Summary of Article In summarising the article, the student has not identified and outlined major policy issues in relation to the Australian economy as: • a clear link of the main points of the article to external stability is not evident • a clear linking economic data from the article to external stability in terms of exports, imports or foreign investment is not evident or • a clear linking of the main ideas of the article to the likely economic impact on the Australian economy is not evident • a clear linking of the main ideas of the article to the likely impact on National income is not evident.