Year 13 economics

As individuals, families, and nations, we confront difficult choices about how to use limited resources to meet our needs and wants.

Year 13 Economics will ask you to study how these choices are made in various settings, evaluate the outcomes in terms of criteria such as efficiency, equity, and stability.  By studying Economics you will be able to think critically about the choices our society makes and the impact of those choices.  

Economics will encourage you to think about business, economic and social issues from a critical and independent perspective.

This year is mainly focused on resource allocation via the market system. Especially how and why the government is involved in the economy and people's lives. 

The main ideas involved in the operation and decision making process of the market system in NZ.  

•  economic problem of scarcity and allocation of resources

•  demand and what influences people's demand, and elasticity of demand 

•  supply and the influences of supply, and price elasticity of supply 

•  different market structures, such as monopolies and how they influence market outcomes

•  marginal analysis and the behaviour of firms in perfect and monopoly market situations

•  market failure, what is needed for a well functioning market and what might lead to the "failure" of some markets in NZ.

You will be confronted with an issue in the economy or a choice that a consumer or producer will have to make. Economics will teach you the skills to examine this from a number of perspectives to reach the 'best possible outcome'.

In a typical lesson you might:

• read a textbook, watch a video, answer questions, and make notes

• examine graphs, statistics, articles

• listen to a presentation

• engage in a class discussion or debate.

You will participate in individual and group work activities throughout the course so you can lean from one another (ako).

This course is recommended to students that enjoy graph work, written responses and thinking about big issues. Recommended prior learning includes taken 11 Commerce (as Year 13 Economics focuses on micro-economics). Having studied Economics previously would be helpful as you would have understanding of the fundamental models used in the course. 

You should:

• have an interest in the economy and how we as a country use our resources

• be comfortable with graphing and reading data from graphs

• be able to write logical, detailed explanations

If you are unsure or have yet to meet the prior learning recommendations, the HoD will meet with you to discuss your plans and ensure you have selected a pathway that meets your needs. This is a content heavy course, so if you are new to the subject, you can be given work to complete over the summer break to ensure you start the year with some prior knowledge.

This course is assessed using a mixture of 2 internally assessed standards and 2 externally assessed standard. You will negotiate an assessment programme with your teacher selected from a number of different standards that offer a range of activities. One assessment will be a written assessment with individual and group work, another will involve a portfolio approach via three small tests, while the external exams are a mixture of graph work, short and long answer essay. 

NZQA Economics Subject Resources

http://www.nzqa.govt.nz/qualifications-standards/qualifications/ncea/subjects/economics/levels/

School Policy for NCEA Assessment

You should be aware of the school procedures for NCEA assessment.  They can be found on the school website at this link. There you will find answers to frequently asked questions about how NCEA works as well as guidance about how to apply for extensions, reconsiderations or the process for withdrawing from a standard.