NCEA L3 Economics
Course Description
Teacher in Charge: Mrs J. Thomas.
In Level 3 Economics, students will compare and contrast economic decisions affecting New Zealand in contexts in which resources are scarce and use analytical tools to present justified recommendations about resource issues.
Understand market Equilibrium
Efficiency of different market structures
Micro economic concepts
Demonstrate understanding of Government intervention to correct market failures
Some current good examples in NZ currently include:
The housing market.
Covid response for businesses, consumers, international travel, healthcare....
Demerit goods such as alcohol, cigarettes.....
Merit goods such as vaccines, education....
Environmentally friendly and sustainable practices.
Students will also have the opportunity to travel to Wellington to visit places of Economic importance. This may include Parliament, Treasury, Reserve Bank, Trade me, Sharsies etc.
Course Overview
Term 1
Micro Economics - Internal on elasticities and Utility
Micro Economics - External on allocative efficiency in Markets
Term 2
Finish Micro Economics - External on allocative efficiency in Markets
Government interventions in Markets that are not socially allocatively efficient - Internal
Term 3
Macroeconomics - External
Term 4
Review for external exams
Recommended Prior Learning
Students will have studied Economics at level 2 and/or level 1. Students may pick this subject up at level 3, however, they should have gained at least a level 2 merit endorsement to have the ability to study this course.
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
This course is eligible for subject endorsement.
This course is approved for University Entrance.
External
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
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
NZQA Info
Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy
Approved subject for University Entrance
Number of credits that can be used for overall endorsement: 20
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.