Level 3 - Economics
Course Description
Economics is an exciting, dynamic subject that allows students to develop an understanding of the complexities and interdependence of economic activities in a rapidly changing world.
At the heart of economic theory is the problem of scarcity. While the world’s population has unlimited needs and wants, there are limited resources to satisfy these needs and wants. As a result of this scarcity, choices have to be made. In 2025 this course will consumer and producer choices via a microeconomic lens. It does this by integrating a significant analytical skill set, both written and mathematical. Through the use of models, empirical data and theory students will be able to answer the fundamental debates in economics:
- Does the market, through the forces of demand and supply provide a better allocation of scare resources than the government?
- Can the market fail, and does allocative efficiency and equity improve with government actions?
- Will marginal analysis enable the economist to understand the motivation's for a perfectly competitive firm output decisions as compared to a firm operating in an imperfect market.
Students will be able to appreciate both the values and limitations of economic models in explaining real-world economic behaviour and outcomes. Students will be continued to be encouraged to use empirical data, through the examination of real-world concerns. The aim is that they develop the knowledge, skills, values and attitudes that will encourage them to act responsibly as global citizens.
Pre-requisites
Completion of Level 2 economics.
Course Specific Costs
$30 (approximately) - write-on workbook
$40 (approximately) - trip to Waihi Gold mine
Pathway
Further study in economics can be undertaken at university level (such as degrees in finance, economics, management and marketing). Career opportunities are wide and varied. Economic skills and knowledge are directly relevant in career areas such as private business, banking, accountancy, journalism, economic research, the Reserve Bank, local and national government bodies.
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
External
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
NZQA Info
Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis
NZQA Info
Economics 3.3 - Demonstrate understanding of micro-economic concepts
NZQA Info
Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes
Approved subject for University Entrance
Number of credits that can be used for overall endorsement: 18
Disclaimer
Specific course content may change from what has been advertised in order to remain current and meet students' needs.
The school has the right to make the best decision based on both staffing, and overall student interest, when preparing the final timetable.