Business, Money and the Economy

This is the portal for the subjects supporting an understanding of consumers, business and the economy

Where Commerce subjects can take you


The purpose of accounting is to provide the information that is needed for sound economic decision making. 

Most people like to know how much money they currently have, which means they check it on a regular basis to verify charges. Think about it: when is the last time you logged into your bank account? What were you there for?

Chances are you were checking the balance and looking to see that all the charges were correct. In the accounting world, this is known as reconciliation. Accountants use two sets of records to ensure that the money balances at the end of a recording period. You are reconciling by using receipts or check registers to make sure that everything that cleared your bank account matches what you have for your spending.

Budgeting and Managing Your Spending

What happens if you spend more money than you have? The answer isn’t pleasant to think about. When you overspend, you are left with a zero or negative balance, and often you incur additional banking fees that put you further in the hole. To prevent this from happening, people usually use a budget.

You create a budget by looking at your income and your expenses and make sure that at the end of your pay period you have enough to cover everything. If the numbers don’t line up—in other words, if you spend more than you make—that’s when you budget and work to manage your spending. You do this by cutting down expenses in some areas (such as dining out or entertainment) so you “make ends meet” each month, and hopefully have something left for savings.

An accountant is doing the same thing for an individual, business or organization, but usually with a different goal in mind: to make a profit. They look at cash flows, expenses, inventory, and more. 

Planning for the Future

In economically unstable times, it’s common for people to assess the future. The desire is to have enough so you can stop working, pay for your child’s college tuition, have money for a vacation, a home, or a car. You’re planning ahead financially, and the ultimate goal is a healthy financial future.

Accountants also are consistently working to maintain and expand the financial health of businesses. They do it several ways—just like you do. Investments, savings goals, analyzing, debt control and profitability are just a few key concepts in financial planning. Every time you sit down and think about how you’ll have the money to do important things you are  using accounting skills

Accounting for businesses

Accounting is the most important part of any successful business. It tells you the state of the business in numbers, not words. It provides the most vital information you need to understand how your business grows, makes money, where the profit of a business goes, and what your cash flow is. In short, if you do not understand the basic principles of accounting, you cannot run a business, nor can you even hope to help a business grow and profit.


Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The economic way of thinking can help us make better choices

Students explore decisions that directly affect their lives and helps to solve issues people face in their everyday lives

Students will consider how New Zealanders are affected by the economic decision-making of individuals, communities, businesses, and government agencies in New Zealand and overseas. 
Students will understand why New Zealand consumers may experience price increases for products, such as cheese and butter, if local producers are exporting goods such as dairy produce for increasing returns

At senior level students will be challenged to find solutions to current macro-economic issues, such as unemployment, poverty, low economic growth, inflation, overuse of natural resources
Students are prepared to participate effectively in the real world. They will see how their incomes will grow if they develop skills that employers demand.

By studying Economics you will examine topics of obvious importance to human well-being. Economics is applicable in a wide range of fields, including:

Local and national government
Increasingly, policy debate in all areas is being cast in economic terms. Understanding most current issues requires knowledge of Economics.

Economics provides a valuable set of intellectual skills, it is more than just a subject – it’s a way of thinking. It provides a logical way of looking at a variety of issues.

So learn about economic theory, develop your skills of logical thinking – and pick up some great interpersonal skills along the way!


The focus in this subject is learning from experience. 

Students learn how to build, promote, and manage their own businesses. 

Learning is real and authentic
Learners are the drivers and teachers act as facilitators
Learning is individualised 
Students work as individuals and as groups
Students are engaged
Students experience success
Students gain knowledge and understanding of good business practice and of business as a productive activity
Students acquire greater financial capability.

Enterprise and innovation involves creating and developing new ideas into products, services, technologies, and businesses. It's a vital component in ensuring strong social and economic development.

Students need skills that will allow them to navigate uncertain waters and chart their own paths. Enterprise education teaches these skills. Entrepreneurship education equips students to seek out problem-solving opportunities, empathize with others, think creatively, take risks, accept failure as part of the growth process, and appreciate the correlation between hard work and success.It encourages students to be creative, to innovate, and to collaborate with others.

The world needs students who are looking to make a difference. Entrepreneurs, by definition, want to make a difference. 

In the business sense, entrepreneurs seek to solve problems, meet needs, and ease pain or difficulty as a means of selling products or services. In the social sense, entrepreneurs seek to solve problems because of the impact ideas and solutions can make on human beings or on the environment. Either way, Enterprise students enter the world not only trained to identify problems that need solving, but also determined to creatively solve problems, meet needs, and make the world a better place.

Enterprise education holds great value for all of our students, and in particular, those entering the fields of science, technology, social work, healthcare, and education. The future belongs to the innovators and creators, and Enterprise education serves as a great incubator for the types of creative, innovative ideas our students and our world need in the 21st century.


Financial education is the process by which financial consumers/investors improve their understanding of financial products and concepts. They develop the skills and confidence to become more aware of financial risks and opportunities, to make informed choices, to know where to go for help, and to take other effective actions to improve their financial well-being.  

Exploring and understanding the factors influencing people’s financial decisions will position students to make more informed financial decisions.  

Financial skills are an important way of helping to change people’s attitudes and behaviour in order to deal with financial pressures and make more effective decisions about their personal finances. 

As young adults learning to live independently they will need to know how to budget and make wise financial choices for everyday living, for example, choosing mobile phone and utility contracts. They will need to manage risks: save for a ‘rainy day’, avoid taking on unmanageable debt, and provide for their old age. Financial products and services vary widely and, in the case of credit, can be almost too easily accessible for many of today’s young people. At the same time, these products and services are becoming more complicated and the choices more difficult. Poor financial decisions can have a long-lasting impact on individuals, their families and society.

Financial education can make a difference. It can empower and equip young people with the knowledge, skills and confidence to take charge of their lives and build a more secure future for themselves and their families