Economics NCEA Level 3



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.


Successful completion of 12ECO: NCEA Level 2 Economics or NCEA: 14 Credits in each of 3 x Level 2 Achievement Standard subjects. Or CAIE: C Grades or better in 3 x AS subjects.

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:

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: