Level 3 Economics
13ECON Course DescriptionTeacher in Charge: Mr A. Vythilingam.
Recommended Prior LearningPrevious 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.
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.
Learning Areas:
Contributions and Equipment/Stationery
A workbook is available for purchase (approximately $30.00).