NCEA L3 Economics
ECO3 Course DescriptionTeacher in Charge: Mrs J. Thomas.
Recommended Prior LearningStudents 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
Macroeconomics - External
Term 4
Review for external exams
Year 13 (NCEA Level 3), Social Sciences - Tikanga ā Iwi
Career Pathways
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