NCEA Level 1 Economics

Aims

To enable students to take an effective part in economic activity and to better contribute to future economic well-being
To help students understand people as consumers, producers and their interaction in the market

Course Content

Producers, Production, Resources, and Supply - A study of the decisions made by individual firms and industries regarding the use of resources to produce goods and services.

Consumers Choice and Demand - A study of the economic behaviour of individuals and households as consumers, and the influences that affect the demand for goods and services.

The Market - A study of the interaction between consumers and producers, resulting in the allocation of resources, the important relationships that exist between the various sectors of the economy, and factors that determine equilibrium in the market.

Skills

Thinking - Recalling knowledge, comprehension, processing information and evaluation
Investigative - Collecting and selecting appropriate information and data, processing and interpreting that data and drawing conclusions
Statistical - Interpreting statistical data, percentages, decimals, ranking sizes, constructing and interpreting a range of graphs
Decision-making - Setting desired goals, identifying obstacles in realising those goals, determining the alternatives before choosing the best one, and evaluating the consequences of decisions

Qualification gained

Full course completion — 24 credits in NCEA Economics Level 1

This subject has links with

Mathematics, English, and Geography

Prior knowledge required

Open entry

Next Step

NCEA Economics Level 2

Achievement Standard

90983 1.1 4 Credit External Demonstrate understanding of consumer choices, using scarcity and/or demand

90984 1.2 5 Credit Internal Demonstrate understanding of decisions a producer makes about production

90985 1.3 3 Credit External Demonstrate understanding of producer choices using supply

90986 1.4 5 Credit External Demonstrate understanding of how consumer, producer and/or government choices affect society, using market Equilibrium

90987 1.5 4 Credit Internal Demonstrate understanding of a government choice where affected groups have different viewpoints

90988 1.6 3 Credit Internal Demonstrate understanding of the interdependence of sectors of the New Zealand economy

Course contribution: $55 indicative amount, may be subject to change.

e-Learn Economics, field trips, guest speakers.