Economics NCEA Level 3

13ECO

UE:

This is an 'approved subject' for University Entrance. Standards marked (R) may be counted towards the Reading credits for Literacy. Standards marked (R/W) may be counted towards either (but not both) the Reading or the Writing credits for Literacy.

Background:

Economics NCEA Level 3 is designed as a one year, stand-alone course, where previous study of Economics is beneficial but not essential. The course builds on skills and knowledge from studying Economics NCEA Level 2. Students who have only 8 to 12 credits at Level 2 or those who have not previously studied Economics should consult with the Faculty Head /Head of Department about their likelihood of successful progress.

Course Description:

The course covers the concepts of: • The behaviour of firms (including output and pricing decisions) • The market (including supply, demand and market types) • Government intervention in the market • Aggregate economic activity (including government policy to control the economy)

Achievement Standards:

LevelStandardDescriptionCreditsInt\ExtOpt\Comp
391399(R/W)Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium4ExternalCompulsory
391403(R/W)Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy6ExternalCompulsory
391401(R)Economics 3.3 - Demonstrate understanding of micro-economic concepts5InternalCompulsory
391402(R)Economics 3.4 - Demonstrate understanding of government interventions to correct market failures5InternalCompulsory

Assessment Summary:

LevelTypeInt\ExtOpt\CompStandardsCredits
3AchievementExternalCompulsory210
3AchievementInternalCompulsory210