03ECO

Level 3 Economics

Course Description

Economists play a key role in decision-making and allocating resources between people, businesses and governments. Their decisions affect everyday life ranging from housing, energy, the environment and transport. You will study the various market structures and how they interact with the rest of the environment to create profit. A well- motivated student can begin this subject at Level 3.

Students will learn about three main areas:

• Markets – supply and demand, scarcity and cost, analysis, market structures and monopolies

• Market failure situations – role of government in the economy

• Influences on the NZ economy – internal and external, aims of government, effects of government policy.



Contributions and Equipment/Stationery

Stationery as per schedule.
There is an opportunity to enter in the Monetary Policy Challenge, enter the New Zealand Economic Competition and visit the Reserve Bank of New Zealand in Wellington.

Recommended Prior Learning

Open entry.

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Total Credits Available: 18 credits.
Externally Assessed Credits: 8 credits.
Internally Assessed Credits: 10 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91399 v2
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 4r,4w *
Numeracy Credits: 0
A.S. 91400 v2
NZQA Info
Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis
Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 4r,4w *
Numeracy Credits: 0
A.S. 91401 v2
NZQA Info
Economics 3.3 - Demonstrate understanding of micro-economic concepts
Level: 3
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 5r *
Numeracy Credits: 0

Assessments:
Term: 1, Week: 7

A.S. 91402 v3
NZQA Info
Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes
Level: 3
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 5r *
Numeracy Credits: 0

Assessments:
Term: 2, Week: 7

Credit Summary
Total Credits: 18
Total Level 1 Literacy Credits: 18
Total University Entrance Literacy Credits: 18
TotalNumeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 18

Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.

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