3ECO

Level 3 Economics*

Course selection will be active in August.

Course Description

This course focuses on understanding consumer and producer behaviour and the decision making that underpins pricing and market structure through using economic models. Students will Investigate the part the Government plays in allocating resources, and influencing  behaviour particularly where the market does not result in efficient or fair outcomes.

Learning Opportunities

In this course you will need to:

Develop these skills:Explore this content:
  • Think critically about what motivates consumers  and the strategic responses of firms and Government.
  • The role of marginal analysis in economic decision making where comparison of extra cost with extra benefit answers the question “What's the big deal about an extra scoop of ice cream?”
  • Observe trends and patterns and draw conclusions about the cost and revenue relationships of producers.
  • Why are petrol prices so high? How do firms gain maximum profit and to what extent can they manipulate prices?
  • Use economic models to predict, analyse and explain market behaviour.
  • Who would benefit most from a rental subsidy? What are the fundamental failures in the housing market and can they be fixed? 
  • Analyse information and ideas to make reasoned recommendations on Government action and communicate them in writing and verbally 
  • When good markets go bad, investigate the role of the Government when market failure occurs. What interventions are necessary and why does noise control have the right to shut down my party?

         


Resources Required

Folder
A4 Lined Refill Pad
Students have the opportunity to purchase NCEA workbooks and an online elearn economics subscription at a total cost of $30.00. (optional)

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Total Credits Available: 18 credits.
Externally Assessed Credits: 8 credits.
Internally Assessed Credits: 10 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91399 v2
NZQA Info
Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 4r,4w *
Numeracy Credits: 0
A.S. 91400 v2
NZQA Info
Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis
Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 4r,4w *
Numeracy Credits: 0
A.S. 91401 v2
NZQA Info
Economics 3.3 - Demonstrate understanding of micro-economic concepts
Level: 3
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 5r *
Numeracy Credits: 0
A.S. 91402 v3
NZQA Info
Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes
Level: 3
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 5r *
Numeracy Credits: 0
Credit Summary
Total Credits: 18
Total Level 1 Literacy Credits: 18
Total University Entrance Literacy Credits: 18
Total Numeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 18

This course is University approved and will allow you to meet the requirements for University Entrance.

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