13ECO

NCEA Level 3 Economics

Course Description

Teacher in Charge: A. Mitchell

Level 3 Economics involves the study of both micro and macro-economics. Students gain skills to analyse markets in detail to explain their efficiency. They will also understand that markets may not always provide an efficient and equitable (fair) outcome so the government may need to intervene. Students will learn to evaluate the options available to the government and justify which is the best solution. Macroeconomics at this level allows students to use key economic indicators to understand the current state of the economy and predict the outcome of internal or external influences. This course prepares students for first year tertiary study in commerce, business, agribusiness and many other degrees. It also prepares students to take an active role in politics, business and many other real world situations.

Content/Skills:

  • Micro-economic concepts and market equilibrium;
  • The efficiency of different markets using marginal analysis;
  • Government interventions to correct market failures; and
  • Macro-economic influences on the NZ economy.

This course is a University Entrance approved subject.

NZ Economics Competition - Auckland University.


Recommended Prior Learning

14 credits in Level 2 Economics or equivalent. The 14 credit requirement must include 1 external.

Credit Information

Total Credits Available: 20 credits.
Externally Assessed Credits: 10 credits.
Internally Assessed Credits: 10 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91399 v2
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium

Further assessment opportunities will not be offered for this standard inline with NZQA guidelines

Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 4r,4w *
Numeracy Credits: 0
A.S. 91401 v2
NZQA Info
Economics 3.3 - Demonstrate understanding of micro-economic concepts

Further assessment opportunities will not be offered for this standard inline with NZQA guidelines

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

Further assessment opportunities will not be offered for this standard inline with NZQA guidelines

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

Further assessment opportunities will not be offered for this standard inline with NZQA guidelines

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: 20
Total Level 1 Literacy Credits: 20
Total University Entrance Literacy Credits: 20
TotalNumeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 20

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

For NCEA Levels 1, 2 & 3 courses will be made up of a selection of the stated standards. This will happen at the beginning of the year with the assigned teacher.