Level 3 Economics
13ECO Course DescriptionTeacher in Charge: Mr S. Healy.
Recommended Prior Learning14 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.
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.
Contributions and Equipment/Stationery
$30 personal subscription to the Elearn Website.
2B8 exercise book, Blue or Black pens, Ruler, Highlighters, Refill, Clearfile.