Education alone is not an effective policy to address youth income and

Education alone is not an effective policy to address

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Education alone is not an effective policy to address youth income and employment issues.
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67 Marks Description 7-8 Accurate grasp of economic concepts and theories In-depth analysis and application by referring to the source/information Supports consolidation/evaluation with suitable theories and evidence Coherently and clearly articulated arguments Good structure and logical coherence 4-6 Fair grasp of economic concepts and theories Moderate analysis and application by referring to the source/ information Attempts consolidation/evaluation with some theories and evidence Uses language to clearly convey messages Makes structured arguments 1-3 Weak grasp of economic concepts and theories Minimal analysis and application Displays limited linguistic competence Disjointed and loosely organised arguments 0 Level does not fulfil the minimum requirements for assessment Marking scheme:
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68 Example 8 : Individual Visit Scheme and the Hong Kong Economy Topic: Individual Visit Scheme and Hong Kong Economy Relevant economics topics: Macro-economic performance; Economic performance indicators; aggregate demand; aggregate supply Type of material: News, statistics, diagram Question design (Total marks: 22) Elementary-level questions (14 marks); Advanced-level questions (8 marks) Rationale of the question design: Since the HKSAR Government launched the Individual Visit Scheme (IVS) for Mainland tourists, Hong Kong has seen a change in its direction and mode of economic development. The huge influx of Mainland visitors has led to significant economic growth and new employment opportunities for Hong Kong, yet at the same time has also created spillover effects. This question first introduces the number of visitors allowing students to analyse the relationship between tourism and economic performance using economic concepts. Ultimately, students should be able to establish their positioning and explore the benefits and drawbacks of the policy of tightening IVS visitor numbers. The questions require students to possess higher order competencies in data analysis and processing. Hence, the questions are rather challenging, assessing not just students’ grasp of basic economics concepts but also their understanding of the materials and whether they can adequately apply provided materials to prove mentioned economics theories and knowledge.
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69 Source A : “Individual Visit Scheme” (IVS) visitor numbers Source B : Consumption expenditure in the local market Year IVS Visitors to Hong Kong (1,000 heads) Share of IVS visitors in total visitor arrivals 2004 4,260 19.5% 2013 27,460 50.6% Year Private consumption expenditure (HK$ million) Expenditure by non-residents in the local market (HK$ million) 2004 771,443 71,235 2013 1,404,527 303,541
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70 Source C: Activities and shopping list for overnight IVS visitors Academics believe that as Hong Kong relies on import goods, and that goods purchased by tourists as well as the factors of production that tourism needs have to be imported, tourism only brings income for the retail sector.
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71 Source D
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  • Spring '07
  • Smith

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