NCEA Level 3 Economics

Economics at this level provides very good preparation for study at university and also provides an interesting overview of the economic issues facing a modern economy. The course would provide a good background for students studying not just economics at university but also areas as diverse as law, environmental science, politics, and other areas of business and commerce.
The course is divided into four main areas of study and a selection will be made from:
• Microeconomic concepts: This is an overview of the concepts related to consumer demand and to producer supply.
• Markets and efficiency of different market structures: This is how firms are organised to use scarce resources to provide us with the goods and services we consume. Some forms of market structures are more desirable than others.
• Market failure: This explores ways in which the government needs to intervene into some markets in order to correct issues facing modern economies.
• Aggregate economic activity: This looks at the New Zealand economy and the internal and external factors that influence the economic activity within the economy. The impacts on all of us from changes in economic activity are covered in this section of the course.

A student will be withdrawn from a standard if the teacher is not confident that the achievement of the standard is within the reach of the student or there is no evidence of the student attempting the assessment.