Purpose
Achievement Criteria
Explanatory Note 1
Demonstrate understanding of how interdependent financial relationships are affected by an event involves:
- describing a direct effect of an event on an entity involved in an interdependent financial relationship
- describing a range of interdependent financial relationships that are affected by the event.
Examine how interdependent financial relationships are affected by an event involves:
- explaining the flow-on effects of the event
- explaining the impact each flow-on effect has on interdependent financial relationships.
Evaluate how interdependent financial relationships are affected by an event involves:
- analysing decisions that could be made in response to the impact of the event on interdependent financial relationships.
Explanatory Note 2
Interdependent financial relationships are money flows between entities that are dependent on each other and are based on whanaungatanga. These may be affected by:
- koha
- tauhokohoko, including exchanges involving a value or equivalent
- internal and external stakeholders
- government, for example rights and responsibilities
- funding and banking.
Explanatory Note 3
Direct effect refers to a first-round effect following an event.
Flow-on effects refers to a second round of effects following a direct effect.
Explanatory Note 4
An event is something that happens that has economic significance to an organisation.
Examples include:
- a change in market conditions
- a natural event
- a change for a stakeholder.
Shared Explanatory Note
Refer to the NCEA glossary for Māori, Pacific, and further subject-specific terms and concepts.
This Achievement Standard is derived from the Social Sciences Learning Area at Level 6 of The New Zealand Curriculum: Learning Media, Ministry of Education, 2007.
External Assessment Specifications
The External Assessment Specifications are published by NZQA and can be found on their website using this link:
NZQA Commerce
Unpacking the Standard
Mātauranga Māori constitutes concepts and principles that are richly detailed, complex, and fundamental to Māoridom. It is important to remember that the practice of these are wider and more varied than their use within the proposed NCEA Achievement Standards and supporting documentation.
We also recognise that the cultures, languages, and identities of the Pacific Islands are diverse, varied, and unique. Therefore the Pacific concepts, contexts, and principles that have been incorporated within NCEA Achievement Standards may have wide-ranging understandings and applications across and within the diversity of Pacific communities. It is not our intention to define what these concepts mean but rather offer some ways that they could be understood and applied within different subjects that kaiako and students alike can explore.
Mātauranga Māori constitutes concepts and principles that are richly detailed, complex, and fundamental to Māoridom. It is important to remember that the practice of these are wider and more varied than their use within the proposed NCEA Achievement Standards and supporting documentation.
We also recognise that the cultures, languages, and identities of the Pacific Islands are diverse, varied, and unique. Therefore the Pacific concepts, contexts, and principles that have been incorporated within NCEA Achievement Standards may have wide-ranging understandings and applications across and within the diversity of Pacific communities. It is not our intention to define what these concepts mean but rather offer some ways that they could be understood and applied within different subjects that kaiako and students alike can explore.
The intent of the Standard
The purpose of this Achievement Standard is for ākonga to show an understanding of financial interdependence and how two-way relationships exist and work within the economy.
Ākonga will look at a range of interdependent financial relationships and learn how an event, for example a change in market conditions, a cultural event, or a natural event, can have direct effects and flow-on impacts on these relationships. Ākonga can explore how government impacts interdependent financial relationships through factors such as minimum wage, welfare payments, taxes, relevant consumer legislation, and health and safety.
Building on this knowledge, ākonga will discuss the implications of these effects and impacts for the interdependent financial relationships.
Making reliable judgements
Ākonga who achieve this Standard will be able to describe the ways in which a network of connected financial entities are mutually dependent on one another. Their understanding of financial interdependence will be demonstrated by an awareness of how an event and its direct effects can impact these relationships.
At higher levels of achievement, ākonga will exhibit an increasing awareness of the ripple effects of an event and how they are felt by the entire financial network. An event may only directly affect one organisation. However, decisions that they make in response could impact other organisations, in turn impacting their customers and stakeholders. Ākonga will be able to identify decisions that need to be made, and point to where a new equilibrium may be found for the affected entities, and what that might look like.
Collecting evidence
Assessment will follow a teaching and learning programme that provides ākonga with the opportunity to explore Significant Learning and gain the understanding they need for this Standard.
Throughout the year, ākonga should be given opportunities to demonstrate understanding of interdependent financial relationships.
Possible contexts
This Standard may draw from any number of contexts centred on complex financial exchanges. The contexts will involve a diverse mix of financial entities. Ākonga should be comfortable exploring a range of interdependent financial relationships. These relationships may be between organisations such as whānau, hapū, iwi, clubs, businesses, and charities, as well as with their consumers, clients, and stakeholders.
The intent of the Standard
The purpose of this Achievement Standard is for ākonga to show an understanding of financial interdependence and how two-way relationships exist and work within the economy.
Ākonga will look at a range of interdependent financial relationships and learn how an event, for example a change in market conditions, a cultural event, or a natural event, can have direct effects and flow-on impacts on these relationships. Ākonga can explore how government impacts interdependent financial relationships through factors such as minimum wage, welfare payments, taxes, relevant consumer legislation, and health and safety.
Building on this knowledge, ākonga will discuss the implications of these effects and impacts for the interdependent financial relationships.
Making reliable judgements
Ākonga who achieve this Standard will be able to describe the ways in which a network of connected financial entities are mutually dependent on one another. Their understanding of financial interdependence will be demonstrated by an awareness of how an event and its direct effects can impact these relationships.
At higher levels of achievement, ākonga will exhibit an increasing awareness of the ripple effects of an event and how they are felt by the entire financial network. An event may only directly affect one organisation. However, decisions that they make in response could impact other organisations, in turn impacting their customers and stakeholders. Ākonga will be able to identify decisions that need to be made, and point to where a new equilibrium may be found for the affected entities, and what that might look like.
Collecting evidence
Assessment will follow a teaching and learning programme that provides ākonga with the opportunity to explore Significant Learning and gain the understanding they need for this Standard.
Throughout the year, ākonga should be given opportunities to demonstrate understanding of interdependent financial relationships.
Possible contexts
This Standard may draw from any number of contexts centred on complex financial exchanges. The contexts will involve a diverse mix of financial entities. Ākonga should be comfortable exploring a range of interdependent financial relationships. These relationships may be between organisations such as whānau, hapū, iwi, clubs, businesses, and charities, as well as with their consumers, clients, and stakeholders.
Standard Exclusions
This Standard has exclusion(s). Standards that recognise the same or similar learning outcomes as other Achievement or Unit Standards need to be excluded to prevent ‘double dipping’. Where two or more Standards assess the same learning outcome, those Standards are specified in the Exclusions List. You can only use credits gained from one of these Standards towards your NCEA qualification.
Click here for the exclusions list for the new NCEA Level 1 pilot Standards.
Standard Exclusions
This Standard has exclusion(s). Standards that recognise the same or similar learning outcomes as other Achievement or Unit Standards need to be excluded to prevent ‘double dipping’. Where two or more Standards assess the same learning outcome, those Standards are specified in the Exclusions List. You can only use credits gained from one of these Standards towards your NCEA qualification.
Click here for the exclusions list for the new NCEA Level 1 pilot Standards.
Literacy and Numeracy Requirements
This Achievement Standard has been approved for literacy in 2024 and 2025.
Full information on the co-requisite for 2024 and 2025: Standards approved for NCEA co-requisite for 2024 and 2025.
Literacy and Numeracy Requirements
This Achievement Standard has been approved for literacy in 2024 and 2025.
Full information on the co-requisite for 2024 and 2025: Standards approved for NCEA co-requisite for 2024 and 2025.