Level 3 Economics
Course Description
Teacher in Charge: Mr A. Vythilingam.
Students will develop an understanding of the efficiency of markets and how Government intervention is sometimes appropriate to deliver more efficient or equitable outcomes. Students develop and understanding of how markets work, why price changes in some markets have a bigger impact on household spending than others. Learn how to calculate a firms costs and profits, how firms maximise profits and minimise losses. Learn how the State ensures markets operate in an efficient and equitable way. Students learn to use a number of micro economic models to analyse the impacts of events and government interventions. This is a good foundation course for students interested in pursuing a Commerce degree as economics is a prerequisite course at a number of tertiary institutions. There are two internal and external assessments undertaken in this course.
Recommended Prior Learning
Previous experience of Economics recommended. Reasonable success in Level 1 or 2 Economics preferred, however students who have taken level 1 Economics and not level 2 Economics, will find many of the microeconomic used in this course familiar. Students who wish to undertake this course with no prior commerce subject experience are advised to seek HOD advise.
Contributions and Equipment/Stationery
A workbook is available for purchase (approximately $30.00).
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
External
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
NZQA Info
Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis
NZQA Info
Economics 3.3 - Demonstrate understanding of micro-economic concepts
NZQA Info
Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes
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.