L7 - Senior Professional Economist
1. Work-based project
1.2. Grading descriptors
KSBs
The grading criteria below is based on the following principles:
- The distinction grading descriptors build on what is set out in the pass grading descriptor;
- To achieve a pass for an assessment method: pass or above must be demonstrated for every KSB under that assessment method.
- To receive a distinction for the project 6 out of 9 distinction grading descriptors must be met
The information below can also be downloaded here LINK NEEDED
Applied economic analysis
- S1 Apply micro-economic and macro-economic theories and modelling, including econometric, to inform a range of business and policy decisions
- S2 Convert the policy or other question into a tractable appraisal, evaluation or other analysis drawing on the most appropriate analytical method, including non-market valuation methods. Analysis considers, inter alia: the counterfactual, opportunity cost, risk and uncertainty and how to estimate discount rates and costs of capital.
- S3 Critically assess available information sources and judge validity and usefulness for the issue at hand; clean and manipulate data; be aware of data limitations and explain them; clearly describe and present data using data visualisation techniques; and draw out and explain policy and business implications to clients
Fail | Pass | Distinction |
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The minimum pass criteria as defined in this table are not met. |
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Project management and planning
- S5 Scope areas of work identifying: objectives, analytical methods, resources required and potential delivery risks. Able to recognise when complementary expertise is required e.g. scientists, other social scientists and data specialists.
Fail | Pass | Distinction |
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The minimum pass criteria as defined in this table are not met. |
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Effective communication
- S7 Clearly communicate economic principles and concepts to non-economists; present trade-offs and ncertainties and articulate these clearly; frame advice, drawing on knowledge of stakeholders' positions, for maximum impact
Fail | Pass | Distinction |
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The minimum pass criteria as defined in this table are not met. |
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Horizon scanning
- S6 Use horizon scanning methodologies to anticipate new trends, opportunities and challenges that may influence outcomes of interest to client.
Fail | Pass | Distinction |
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The minimum pass criteria as defined in this table are not met. |
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Maintaining quality standards
- S8 Design Quality Assurance processes and implement these, following organisational best practices, and drawing on sources of external expertise; critically assess economic analysis and improve it.
- B1 Ethical conduct: analyst attributes sources and ideas to their originator; provides honest advice on all relevant aspects to an issue; avoids bias.
- B4 Rigour: demonstrates a commitment to detail.
Fail | Pass | Distinction |
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The minimum pass criteria as defined in this table are not met. |
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