There are 5 Achievement Standards in this course contributing 24credits
towards a Level Three NCEA certificate. For University entry, Economics can
be used as 1 of the 3 “approved” subjects as well as for gaining literacy.
A.S. Title
UE Lit
3.1
91399
v1
Demonstrate understanding of
the efficiency of market equilibrium
Read/
Write
3.2
Demonstrate understanding of
the efficiency of different
market structures using marginal analysis
Read/
Write
Demonstrate understanding of
micro-economic concepts
Read
Demonstrate understanding of
government interventions to
correct market failures.
Read
91403
v1
Demonstrate understanding of
macro-economic influences on
the NZ economy
Read/
Write
BUS
3.6
91384
V1
Carry out, with consultation, an Read
innovative and sustainable
business activity
******OPTIONAL******.
91400
v1
3.3
91401
3.4
91402
v1
3.5
Assessment
Credits
Method
4
External
4
External
5
Internal
5
Internal
“The Invisible Hand” See Tutor2u
6
9
External
Internal
The 3 externally assessed achievement standards will be examined by NZQA
at the end of the year.
To gain course endorsement, students will need 14 credits at merit or excellence with at least 3 each from internal & external assessment.. AS BUS 3.6
can be used for course endorsement.
Level 3 Economics is essentially an investigation into supply-side or microeconomic policies. We start the year with Macroeconomics, looking at the big picture of what is happening to our economy. When then look at the idea of leaving individual markets alone to allocate our scarce resources efficient. This
leads us to the free market argument that market participants working to
maximise their own gains can make us all better off. We finish by looking at
the exceptions to the rule, where sometimes the market fails to deliver the
right outcomes and government intervention is justified.
An information booklet for students and parents
The internally assessed achievement standards will be assessed as
follows:
AS 3.3 Demonstrate an understanding of micro-economic concepts
(91401)
3 part assessment, includes 2 tests and a report.
Assessment Term 2
AS 3.4 Demonstrate understanding of government interventions to correct market failure (91402)
3 part assessment, includes a report, peer review and a test.
Term 3
Both these standards have a portfolio style for assessment. Students will complete a
series of assessments to show evidence towards the standard.
For AS 3.3. evidence of achievement must be shown for 2 microeconomic concepts
For AS 3.4 evidence of achievement must be shown for 2 types of market failures.
…...is a one year course that focuses mostly on what is called Micro-Economics.
That is the detailed study of individual markets in the pursuit of achieving
allocative efficiency and situations of market failure. Year 13 Economics can
lead on to university studies in Commerce, Science or Humanities.
Economics can lead on to various careers such as policy analysts, being in business, banking, accounting, politics, journalism, writing, forecasting & teaching.
Macroeconomics. An overview of the entire level 2 Economics course as well
as External Factors covered in level 2 Business Studies.
Then a lot of new stuff with the underlying motivations for Producer & Consumer decisions using Marginal Analysis. A in depth look at market efficiency
and the effect of taxes, subsidies, tariffs and price controls. This includes
the fundamental concept of the “invisible hand” made famous by Adam Smith.
Lastly market failure caused by externalities and inequality.
Business Studies. AS 3.6 Carry out, with consultation, an innovative and sustainable business activity. (91384)
Students who successfully carried out the level 2 Carry Out activity in 2014
will be given the opportunity to attempt this activity at level 3 via the YES
programme. More information on the YES program will be provided and interested students have the option of attending the regional “E’Day” on the 17/2.
This is an optional activity. Students who choose to complete it can discuss
with their teacher what level 3 Economics standards they could not attempt
in order to manage their time, commitments and achievement.
Students will still need to ensure they have the opportunity to earn a minimum of 14 credits in Economics for University Entrance.
Read the school’s policy on internal assessment published in the NCEA Information Booklet so
that you are very clear of your rights and obligations. See your teacher if you have any questions
Term 1 Macroeconomics . AS 3.5 (Ext) and part of AS 3.1 (Ext) & 3.3 (Int)
Term 2: Microeconomics . AS 3.1, 3.2 (Ext) & 3.3 (Int)
Term 3: Market Failure. AS 3.2 (Ext), 3.3 & 3.4 (Int)
Term 4: Revision (AS 3.1, 3.2, 3.5),Scholarship, Macroeconomics) NCEA Exams
Scholarship students: only & optional
ECON 199 - Distance learning via Canterbury University . Full year course.
This funded by the schools STAR program so is free to students, however places will be
limited.
Scholarship Macro-Economic Tutorials Late Term 3/4