L3ECO

Level 3 Economics

Course Description

Teacher in Charge: Mrs L. Williams

Graduate profile: (What qualities/additional skills learners will achieve by taking this course?)
Pupils will study the New Zealand economy. Pupils study both microeconomic models to gain an understanding of the efficiency of markets. They will lean to understand that in the real-world firms do not meet the conditions for perfect competition, meaning government intervention is almost certainly required to improve efficiency and/or equity. Analysis at this level will show that government intervention may involve a trade-off between efficiency and equity. Macroeconomic analysis at this level involves looking at the performance of the New Zealand economy. The impact of internal and external influences on the economy are analysed using economic models that allow them to predict the impact of the influences on the goals of government. Skill development includes critical thinking, guided inquiry learning, self-management, statistical analysis, logical thinking, interpretative and analytical thinking, and collaborative and team work.

Possible Career/ Vocational Pathway(s): (What career pathways are related to this course?)
Economist, market researcher, financial analyst, economics advisor, business analyst, policy analyst, politician, lawyer, management consultant, economic analyst, entrepreneur, banking, research analyst, secondary school teacher, property manager, journalist, tax consultant, stockbroker and many more.

Learning outcomes/Assessment links: (See standards list below). 
NOTE: Courses are subject to change with the review of courses at the end of each year.

Progression: (What courses does this course lead to?) 
This course can lead to a Bachelor of Commerce, Bachelor of Business Studies, or Bachelor of Arts - focusing on politics, philosophy and economics, Bachelor of Law, Bachelor of Science and similar certificate or diploma courses.

Contextualised contexts: (What local, cultural, real-life content is involved in this course?)
Local community links and business study.

Teaching and Learning Approaches: (How will I learn in this course?)
Students will learn through group participation, peer-learning and teacher focused learning environment.  A combination of practical and theory components.

Resource requirements: (What resources will I need to have to learn in this course?)
Students will require access to a chromebook, and a 1B5 exercise book. They have the option to purchase a workbook.

Course Overview

Term 1
Demand and Utility; Elasticity
KEY DATES:

Term 2
Market Structures; Marginal Analysis
KEY DATES:
Week 5: AS91401; Week 7: Assessment week

Term 3
Market Failure; Government Interventions and Policy
KEY DATES:
Week 6: AS91402; Week 9-10: Derived Grade examinations

Term 4
NCEA Revision
KEY DATES:
Week 5: NCEA Examinations

Recommended Prior Learning

Although entry is open, it is preferable that students have achievement in Government Policies, Inflation and Growth from Level 2 Economics. A reasonable level of literacy is also required.

Resource Requirements

Students will require access to a chromebook, and a 1B5 exercise book. They have the option to purchase a workbook.

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Total Credits Available: 24 credits.
Externally Assessed Credits: 14 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
A.S. 91403 v2
NZQA Info
Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy
Level: 3
Internal or External: External
Credits: 6
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 6r,6w *
Numeracy Credits: 0
Credit Summary
Total Credits: 24
Total Level 1 Literacy Credits: 24
Total University Entrance Literacy Credits: 24
TotalNumeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 24

Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.

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