NCEA L3 Economics

ECO3
Course Description

Teacher in Charge: Mrs J. Thomas

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.


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

Learning Areas:

NCEA Level 3, Social Sciences - Tikanga ā Iwi



Career Pathways

Valuer, Actuary, Business Analyst, Software Developer, Statistician, Historian, Bank Worker, Urban/Regional Planner, Emergency Management Officer, Information Technology Helpdesk/Support Technician, Information Technology Manager, Corrections Officer, Systems Administrator, Demonstrator, Foreign Policy Officer, Economist, Energy/Carbon Auditor, Information Technology Architect, Environmental/Public Health Officer, Fishery Officer, Immigration Officer, Market Research Analyst, Survey Interviewer, Policy Analyst, Probation Officer, Intelligence Officer, Management Consultant, Test Analyst, Network Administrator, Marketing Specialist, Data Analyst, Elected Government Representative, Managing Director/Chief Executive, Early Childhood Teacher, Teacher of English to Speakers of Other Languages (ESOL), Kaiwhakaako Māori, Tertiary Lecturer, Private Teacher/Tutor, Secondary School Teacher