13ECO

Level 3 Economics

Course Description

Teacher in Charge: Mr S. Healy.

Economics is a social science involving the study of people and their activities relating to production, consumption and exchange. It covers the behaviour of individuals, their work decisions of what to produce, where to locate and how to market, and the activities of government. The subject also explores major economic issues such as employment, inflation, budget deficits, trade, economic growth and government policies. Economics develops analytical and critical thinking skills, and as students progress to more advanced levels at St John's College, they will have the opportunity to specialise in varied areas such as financial markets, game theory, labour and environmental economics.

Level 3 Economics is a course designed to set students up for studies at University. The students will examine the following areas:
1. Behaviour of Firms
2. Allocative Efficiency and Market Responses to Change
3. Government Intervention in the Market.  

4. Aggregate Economic Activity

Course Overview

Term 1
The first term will be focussed on the key Microeconomic concepts and then the Focus will be on Allocative Efficiency.

Term 2
There will be a continuation of focus on Allocative efficiency. The last 6 weeks will be focused on Marginal Analysis.

Term 3
The internal assessment on Market Failure will the focus until the School exams. Revision for the externals will occur for the rest of the term.

Term 4
Revision for the external examinations.

Recommended Prior Learning

14 Credits in Level 2 Economics or approval from the HOF. Progress in the practice exams in term 3 will used to determine suitability for the level 3 course.

Contributions and Equipment/Stationery

$30 personal subscription to the Elearn Website.
2B8 exercise book, Blue or Black pens, Ruler, Highlighters, Refill, Clearfile.

Credit Information

You will be assessed in this course through all or a selection of the standards listed below.

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Total Credits Available: 18 credits.
Externally Assessed Credits: 8 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: 0
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: 0
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: 0
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: 0
University Entrance Literacy Credits: 5r *
Numeracy Credits: 0
Credit Summary
Total Credits: 18
Total Level 1 Literacy Credits: 0
Total University Entrance Literacy Credits: 18
Total Numeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 18

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.