NCEA Level 3 Economics

Aims 

• Demonstrate understanding of the efficiency of market equilibrium

• Demonstrate understanding of micro-economic concepts

• Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes

• Demonstrate understanding of macro-economic influences on the New Zealand economy

Course Content 

• Demand, supply and market equilibrium including sales tax, subsidies, price controls, trade and government intervention

• Elasticity of demand and supply

• Marginal utility and marginal analysis

• Externalities of consumption and production

• Trade, growth, inflation, and employment and government policy

Assessment 

There are a variety of internal assessment tasks and external school examinations. Externally assessed topics are examined nationally at the end of the year. Learners select appropriate assessments from the list below. 

Qualification gained 

Full course completion — 20 credits in NCEA Economics Level 3 

This subject has links with

Business Studies, Geography and Mathematics with Statistics.

Prior knowledge required

NCEA Level 2 Economics with a minimum of one external and one internal Achievement Standard at Level 2, or a satisfactory level of achievement in NCEA Level 2 Mathematics and English.

In exceptional circumstances entry is by consultation with the HoD and the Year Level Dean.

Next Step 

Tertiary study in a wide range of fields - Commerce, Business, Law and Humanities