ECO3
This course requires 2 options.

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
Efficiency of different market structures using marginal analysis - 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.

Career Pathways

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
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.