This course requires 2 options.
Economics - Level 3
Teacher in Charge: M. Orchard
Economics examines the choices people make about the use of limited resources to satisfy unlimited wants.
Economics helps to explain and predict how goods and services will be produced and consumed. It will tell you who gets what, how, and why.
Economics explores issues of:
- sustainability (efficient use of scarce resources)
- enterprise (identifying profit-maximising levels of output)
- citizenship (economic decisions affecting New Zealand society)
- globalisation (the benefits of international trade).
Economists are interested in the factors that influence the well being of people and aim to find solutions to improve people’s standard of living.
Topic of study: Microeconomic Concepts
- Economic modelling of supply and demand
- Concepts of utility, elasticity and diminishing returns are introduced
- Analysis of the actions of the rational consumer and producer
Students begin to learn by online quizzes with immediate feedback, accurate graphing skills, and adoption of key economic terminology.
Topic of study: Market Failure
- Learning the economic history of New Zealand
- Differentiating between inequality and inequity
- Economic modelling of the labour market and Lorenz curves
- Analysing the Government policies to counter the market failure of inequitable wealth and income distributions
Students learn with research and written argument outlining the subjective nature of fairness or equity in society, using economic modelling and reasoning
Topic of study: Allocative efficiency
- Economic modelling of demand and supply to determine the welfare or benefit of markets
- Analysis of allocative efficiency and the causes of inefficiency in the market by making one party worse off while not making another party better off
Students analyse all Government interventions in markets to understand the impact on allocative efficiency
Topic of study: Macro-economic influences on the New Zealand economy
- Government goals of price stability, economic growth, balanced trade, and full employment are introduced
- Economic modelling of circular flow, aggregate demand and supply, foreign exchange market, and the business cycle are introduced
- Government policies including monetary policy, fiscal policy and trade policies are discussed and analysed
Students make sense of the daily business and economic news and its impact on the macro-economy
Revision for the NCEA exam of allocative efficiency and macro-economic influences
If you did not take a pathway course at Level 2, or achieved fewer than 14 credits in that course, you will need HOD approval
Total Credits Available: 20 credits.
Externally Assessed Credits: 10 credits.
Internally Assessed Credits: 10 credits.
Term: 4, Week: 8
Term: 2, Week: 5
Term: 1, Week: 8
Term: 4, Week: 8
Approved subject for University Entrance
Number of credits that can be used for overall endorsement: 20
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.
Economics can lead to a range of future career options. Specialist economists work for government agencies, various businesses (both in New Zealand and overseas), manufacturing, communications, insurance, banks and finance companies. However, the knowledge and skills gained through economics can be used in a wide range of occupations such as in research and analysis, administration, education.,
It is the policy of Tauranga Boys’ College to have school-wide policies that inform parents and students of the criteria for administering all Assessments for National Qualifications.