Level 3 Economics

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 14. There is an alternative external standard that some students may choose over AS91399 which would increase the total credits to 16.

Alternative external - entry to be discussed with the teacher

AS 91403 v2 Economics 3.5 - Demonstrate understanding of macroeconomic influences on the New Zealand economy, 6 credits.