NCEA Level 3 Economics

Course Description

Teacher in Charge: A. Mitchell

Recommended Prior Learning

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

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.


  • 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.


Social Science