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ABOUT THIS COURSE
ABOUT THIS COURSE
This Level 2 Economics course explores key economic issues in Aotearoa New Zealand and the wider world. You will study the causes and types of unemployment and their impact on different groups. The course examines government policies and how they influence economic outcomes. You will explore the management of inflation and its effects on households and businesses. Drivers of economic growth and the role of key industries in national and regional development will be investigated.
You will analyse how market forces and business decisions affect efficiency, equity, and sustainability. Global economic events and their impact on trade and international relationships will also be explored. Throughout the course, you will develop skills in economic research, data interpretation, and analytical writing. You will learn to evaluate different perspectives and understand the real-world consequences of economic decisions. By the end of the course, you will be able to form well-reasoned conclusions and understand the contested nature of economic issues in New Zealand and globally.
What should I have already achieved?
What should I have already achieved?
Students should ideally have passed Level 1 Economics or a related Social Sciences subject. They should have a sound understanding of basic economic concepts and models, and be developing confidence in interpreting data, graphs, and real-world economic scenarios. Students will also be working on improving their written skills to communicate economic ideas clearly and logically. A consistent work ethic is expected to meet deadlines and complete a range of internal assessments throughout the year.
What will I learn?
What will I learn?
Unemployment in New Zealand
Unemployment in New Zealand
Key Point
Types: frictional, structural, cyclical.
Reasons for NZ’s low unemployment.
RBNZ’s role in economic stability.
Government programs (e.g., Work and Income).
Impact on society across all regions and cultures.
Government Policy in New Zealand
Government Policy in New Zealand
Key Point
Fiscal and monetary policies.
Roles of Treasury and RBNZ.
Crisis responses (e.g., COVID-19).
Policies on welfare, housing, climate.
Government-business-public interactions.
Inflation in New Zealand
Inflation in New Zealand
Key Point
Causes and effects.
RBNZ management via interest rates and monetary policy.
Influencing factors: commodity prices, exchange rates.
Trade-offs with economic growth.
Economic Growth in New Zealand
Economic Growth in New Zealand
Key Point
Drivers: productivity, innovation, infrastructure, human capital.
Key sectors: agriculture, tourism, technology.
Policies for sustainability, inequality reduction, and regional development.
Career Pathways
Career Pathways
The skills you gain in Level 3 Economics are highly transferable into a range of other subjects, career pathways, and opportunities.
Finance and Banking- Investment banking, commercial banking, financial analyst, risk management.
Government and Public Policy -Economic advisor, policy analyst, treasury or central bank roles, regulatory agencies.
Business and Management - Business strategist, market analyst, operations manager, management consulting.
International Trade and Development -Trade analyst, development economist, international organisation roles (e.g., UN, World Bank).
Data, Research, and Statistics -Economist, data analyst, market researcher, statistical modelling.
Education and Academia -Teacher, lecturer, researcher in economics or related social sciences.
Specialised Sectors in NZ - Agriculture economics, environmental economics, tourism, housing and urban development, energy sector analysis
Recommended Workbooks
Recommended Workbooks
The workbook is highly recommended to support the learning for this course.
Dan Rennie - Understanding Microeconomics Level 2 Workbook - Growth and Inflation
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