Economics - Level 1

ECO1
Course Description

Teacher in Charge: C. Hays

Economics students explore decisions that directly affect their lives, such as:
- whether to do homework or go to a movie
- extract mineral resources today or save them for the future
- charge the full price or subsidise education to make it more accessible.

By studying economics, 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 study:
• Economic decision making of consumers and producers
• What is the market system and how in free market economies, prices set by the interaction of supply and demand allocate scarce resources.
• The New Zealand Economy and gain insight into how it works.


Course Overview

Term 1
Producers (Internal)
- understanding of the decisions a particular producer makes about production
- study of a local producer (what are their goals, production methods, innovative ideas to improve productivity, effect on the local economy)

Term 2
Circular Flow and the Economy (Internal)
- understanding of the interdependence of sectors of the New Zealand economy.
- providing a detailed explanation of how or why sectors are interdependent, using an economic model
- understanding the impact of an event on a sector with detailed explanations of the flow-on effects to other sectors, using an economic model.

Government Choices (Internal)
- understanding how government choices are made where affected groups have different viewpoints.

Term 3
Demand (External)
• understanding consumer choices related to scarcity
• understanding flow-on effects for the consumer and different choices the consumer makes in response to a change in a price or non-price factors affecting demand
Markets (External)
• understanding how producer, consumer and/or government choices affect market equilibrium with detailed explanations of how those changes affect different sectors
• integrating changes in supply and demand into different situations and markets.

Term 4
Exam preparation

Pathway

Accounting - Level 2, Business Studies - Level 2, Economics - Level 2

Prerequisites

Open Entry


Credit Information
Assessment
Level
Internal or
External
Credits
L1 Literacy Credits UE Literacy Credits Numeracy Credits
A.S. 90988 v3 Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
1
I
3
Y
A.S. 90987 v3 Economics 1.5 - Demonstrate understanding of a government choice where affected groups have different viewpoints
Assessments:
Term: 2, Week: 6
Term: 2, Week: 7
1
I
4
Y
A.S. 90986 v3 Economics 1.4 - Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium
1
E
5
Y
A.S. 90984 v3 Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
Assessments:
Term: 1, Week: 6
Term: 1, Week: 7
Term: 1, Week: 8
1
I
5
Y
A.S. 90983 v3 Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
1
E
4
Y
Total Credits

Total Credits Available: 21 credits.
Externally Assessed Credits: 9 credits.
Internally Assessed Credits: 12 credits.

Pathway Tags

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.


Disclaimer

POLICY
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.