ECO3

Level 3 Economics

Subject Description

Teacher in Charge: M. Gray

Have you ever wondered how individuals make purchase decisions and how firms make decisions about the allocation of resources? This course will answer these fundamental economics questions. Students study the role of markets in the economy and the implications of allocative efficiency. They gain an insight into why government intervenes in markets and examine what happens when good markets go bad. Students gain economic literacy and understanding which allows them to develop a continuing interest in contemporary economic issues.

Why study Economics?

Economics is about choice and the impact of our choices for each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms.

Economics offers the tools with which to approach questions and how to make well – informed decisions about the desirability of individual ideas or the likely impacts of public policies. You will acquire problem-solving skills and develop a logical, ordered way of looking at problems.

Economics is important for many areas of society. It can help improve living standards and make society a better place, in turn, it can also make things worse. It partly depends on the priorities of society and what we consider most important.

Economics leads naturally to careers in business, law, research and consulting, marketing, communications or working within the Government.


The total credits for this course will show below as 16. There is an alternative external standard that some students may choose over AS91403 which would reduce the total credits to 14.

Alternative external - entry to be discussed with the teacher

A.S. 91399 v2 Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium, 4 credits



Contributions and Equipment/Stationery

Workbook – $40

Entry Guidelines

Economics Level 2 or by negotiation with Head of Faculty.

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Total Credits Available: 16 credits.
Externally Assessed Credits: 6 credits.
Internally Assessed Credits: 10 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
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
A.S. 91403 v2
NZQA Info
Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy
Level: 3
Internal or External: External
Credits: 6
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 6r,6w *
Numeracy Credits: 0
Credit Summary
Total Credits: 16
Total Level 1 Literacy Credits: 16
Total University Entrance Literacy Credits: 16
TotalNumeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 16

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.

Disclaimer

An individual course will only run if sufficient students are accepted into the course.