13ECON

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

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
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
Credit Summary
Total Credits: 18
Total Level 1 Literacy Credits: 18
Total University Entrance Literacy Credits: 18
Total Numeracy 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.