11ECO

NCEA Level 1 Economics

Course Description

Teacher in Charge: Mr M. Terry

Course outline

This course aims to give students an understanding of how individuals as consumers make economic choices, how and why producers make decisions about using resources, and their interaction in the market. The market is the focus of this course of study, and students will appreciate that market forces determine what and how much is produced. Economics is an important subject, which leads to excellent career prospects in government, banking, business, foreign exchange, investment, management and international agencies.

The topics studied are:

  • The relationships between different sectors of the economy, namely households, producers, government, the financial sector and the overseas sector.
  • Concepts related to consumer choice and the derivation of a demand curve
  • Understanding the roles and characteristics of producers, the nature of production and the use of resources, price and non-price marketing
  • Description of factors influencing the supply of goods and services, the derivation of a supply curve and shifts in supply
  • Description of the market and the market forces which lead to equilibrium



Course Overview

Term 1
Introduction - Scarcity and values
Goals of public and private producers
Resource use
Productivity
Business Expansion
Price and non-price competition

Term 2
Supply schedules and curves
Demand for goods and services
Market equilibrium

Term 3
Market equilibrium continued
Interdependence of sectors of the economy - microeconomics
Interdependence of sectors of the economy - macroeconomics

Term 4
Revision
NCEA examination

Contributions and Equipment/Stationery

Workbook $30.

Pathway

Economics can be studied right through university towards a bachelor degree, masters degree and doctorate. There are several areas to specialise in in later study. Macroeconomics which is relevant to careers with the Reserve Bank, Treasury, various economic institutes, domestic and international banking and finance companies. Econometrics leads to opportunities in Statistics NZ, actuary firms, insurance and polling firms. Microeconomics and Management science are branches of economics of interest to industry, health, airlines and freight logistics firms.

Credit Information

Total Credits Available: 20 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 8 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90983 v3
NZQA Info
Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
4
4
4
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90984 v3
NZQA Info
Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90985 v3
NZQA Info
Economics 1.3 - Demonstrate understanding of producer choices using supply
Level: 1
Internal or External: External
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90986 v3
NZQA Info
Economics 1.4 - Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium
5
5
5
Level: 1
Internal or External: External
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90988 v3
NZQA Info
Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
3
3
3
Level: 1
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 20
Total Level 1 Literacy Credits: 20
Total University Entrance Literacy Credits: 0
TotalNumeracy Credits: 0

SchoolPoint by Inbox Design SCHOOLPOINT129, Rendered 1.09MB in 0.2199 seconds with 17 queries.

----