CIA4U SUMMATIVE 2015
( MR. SAFARIAN)
OVERVIEW
Students will produce a portfolio of four responses of 500 to 750 words each,
based on published articles from news media or periodicals. The article may be
from a newspaper, a journal or other author, but must be a professional and
reputable source. If there are any questions whether the source is appropriate
please see Mr. Safarian.
Each response must:




relate to an interesting, non-trivial article on an economic topic or event
briefly summarize the article in five to seven sentences demonstrating
you understand the key ideas.
explain the linkages between the article and one or two major economic
theories studied in the course.
demonstrate economic insights into the implications of the article. You
should provide evidence of your ability to evaluate current economic
events from the point of view of an economist. You state which specific
groups are affected by the economic events in the article, both “winners”
and “losers”. You demonstrate understanding of the economic theories
relevant to the article and you use the appropriate economic terminology
correctly. You usually discuss the facts considering opportunity costs and
the marginal costs and benefits. You evaluate some aspect of the article:
either the opinion of the writer or the opinion of someone within the article
or perhaps the government policy decision or new law or rule in the article.
You almost certainly will discuss choice, opportunity cost, the market
system ( ie the price system) and incentives, among other topics.
SPECIFICS
One article must deal with an economic system SUBSTANTIALLY different than
Canada. The other three articles must address three different major economic
theories as their main focus, although it is acceptable for articles to make
reference to more than one major theory. For example an article on GDP will
often refer to inflation as well. See Mr. Safarian if in doubt. The 500 – 750 word
total includes your summary and the linkages/implications.
SELECTION OF ARTICLES
Selecting an excellent article is important and will be rewarded with high
marks. An excellent article will provide a deep set of economic facts and
events in a current situation. An excellent article will relate to a non-trivial
subject with room for discussion and differing opinions on some aspects of
the article. You will observe some objective/positive economic statements
and some subjective/normative statements or assertions made in the
article. There may be some analysis and opinion in the article itself or it
may be mainly objective/positive economic facts or events. In fact an
article that is systematically wrong in some ways may also be an excellent
article to analyze which allows you to demonstrate your awareness of
these errors and your mastery of this course. But be careful if you wish to
conclude they are incorrect.
The articles on which each response is based must be drawn from four different
sources. ONE ARTICLE MUST COME FROM The Economist Magazine
(economist.com). The four articles must cover four different key concepts of
economics. Articles must be current and relevant. If any of the four articles, is
prior to November 30, 2015 you must seek Mr. Safarian’s permission to use it.
NOTE
The summative will be marked using the attached rubric in a holistic manner ( the
entire summative is marked, not one article at a time).
FINAL PRODUCT
Use a report cover, with course and section, teacher’s name, student’s name and
date.
Each article must be provided in full with an introductory cover page for each
including title, source information, date of article or download, word count of
article, word count of response, major theory(ies) related, key parts highlighted if
possible.
RUBRIC See rubric sheet below ( next page )
DUE DATE: Thursday May 28, 2015
Achievement
Level/Assessment
Criterion
0
1
2
3
4
The article refers
deeply and directly
to an economic
topic and has some
economic reasoning
included
Summarizes briefly
and demonstrates
you understand
most of the key
ideas.
Explains most of
the linkages
between the article
and the theories
correctly and in
some depth
Demonstrates good
economic insights
into the
implications of all
articles (evidence;
winners/losers;
correct theories and
terminology;
evaluate some
aspect with your
opinion)
na
The article refers deeply and directly
to an important economic topic and
has a lot of economic reasoning
included with some positive and
some normative statements
throughout.
Summarizes briefly and
demonstrates you understand all of
the key ideas.
medium
Explains almost all of the linkages
between the article and the theories
correctly and in depth
heavy
Consistently demonstrates excellent
economic insights into the
implications of all articles (evidence;
winners/losers; correct theories and
terminology; evaluate some aspect
with your opinion)
Very
heavy
At least one system in question is an
excellent example of a system
substantially different than Canada’s.
At least two are about Canada or
similar to Canada
light
At least one article
from The
Economist
Most of the
administrative
requirements are
met
The article chosen from the
Economist is an excellent choice.
light
All of the administrative
requirements are met
light/med
The article is about an
important, non-trivial
economic topic or event and the
article provides deep facts,
observations and opinions.
Level 1 is not
achieved.
The article has some
reference to economic
topics but may be short
or superficial.
The article refers in some
depth directly to an
economic topic we have
studied.
Briefly summarizes the article
in five to seven sentences
demonstrating you understand
the key ideas.
Level 1 is not
achieved.
Summarizes but is too
brief or too long and
misses some key ideas.
Summarizes but may be
too brief or too long and
misses one or two key
ideas.
Explains the linkages between
the article and one or more
major economic theories
studied in the course
Level 1 is not
achieved.
Attempts to explain part
of the article or some of
the economic theory but
not necessarily the
linkages.
Explains some of the
linkages between the
article and the theory or
theories
Demonstrates your economic
knowledge and your insights
into the implications of the
article (evidence;
winners/losers; correct theories
and terminology; evaluates
some important aspect with
your opinion)
Level 1 is not
achieved.
Demonstrates few
economic insights into
the implications of
some articles (evidence;
winners/losers; correct
theories and
terminology; evaluate
some aspect with your
opinion)
Demonstrates some
economic insights into
the implications of some
articles (evidence;
winners/losers; correct
theories and terminology;
evaluate some aspect
with your opinion)
At least one article deals with
an economic system
substantially different than
Canada’s. At least two articles
are about Canada, USA or
Britain.
One or more articles from The
Economist
Level 1 is not
achieved.
The system in question
is not substantially
different than Canada’s
na
Not met
na
na
Report Cover with course and
section, teacher’s name,
student’s name and date plus
cover page for each article
source word count x 2, major
theories are listed
Level 1 is not
achieved
A few of the
administrative
requirements are met
Some of the
administrative
requirements are met
OVERALL MARK
CIA4U1 Summative Rubric 2015
Weight
Score
medium
As a
percent.
/100
Economic Course Content ( = “ ideas, concepts or “theories”)
1. Political Economics (Economic systems)
- Communism
- Socialism
- Capitalism
- Fascism
NOTE ALSO THESE KEY CONCEPTS
Choice;
Scarcity; Opportunity cost; The Price System
2. Demand and Supply
- Relation to price
- Demographics, population
- Incomes, taste and preference
- Expectation, price of substitute
- Cost, # of seller, technology, nature, price of related output
- “The market system”, “The price system”
- Incentive
- Market intervention
- Elasticity
3. Government Intervention Markets
- Ceiling Price, Floor Price
- Subsidies, Quotas
- Utility Theory
4. Labour Economics
- Minimum Wage
- Poverty
- MRPL, Wages
- Human Capital
5. Industrial Activity
- Business Organizations
- Economy of Scale
- Diminishing Marginal Return
- Government Enterprise
- Multi National Corporation
6. Marginal Theory
- Marginal Cost/ Marginal Benefit
- MRPL
7. Competition
- Market Structure
- Monopoly, Oligopoly…etc
8. Macroeconomics
- GDP, Inflation, Unemployment
- Fiscal Policy: Deficit, Surplus, Balanced Budget
- Monetary Policy
- CPI
- Equilibrium price/output
9. Aggregate Demand and Aggregate Supply
- AD: Government Spending, Investment, Export Demand, Consumption
- AS: Price of Inputs, amount of inputs available, Efficiency
10. Business Cycle
- Recession, Depression
- Injections and Withdrawals