Year 11 Economics

11ECO
Subject Description

Teacher in Charge: Mr M. Prasad

Recommended Prior Learning

Open Entry


What is Economics about?

Economics examines how people make choices about the use of limited resources to satisfy unlimited wants. Economics helps explain and predict how goods and services will be produced and consumed.

Economics is the study of how people make decisions and of the forces that affect their behaviour and the shape of their institutions, such as the value of leisure time, consumer preferences, and the extent of government intervention.

Economics explores:

  • issues of sustainability (efficient use of scarce resources)
  • enterprise (identifying profit-maximizing levels of output)
  • citizenship (economic decisions affecting New Zealand society)
  • globalization (the benefits of international trade).

Economics considers the factors that influence the well-being of people and aims to find solutions to improve people's standard of living.

Economics has an important role to play in the education of all students, particularly in our rapidly changing society. Understanding basic economic concepts and the way in which the New Zealand economy operates is important for young people if they are to function in and contribute to our society.

The Aims of the Economic Syllabus

At Year 11, key economic conceptual understandings related to scarcity are introduced. Students gain an understanding of everyday micro-economic choices consumers, producers, and government need to make, because of scarcity, and the implications of these choices for society. Students are introduced to the supply and demand model, using it to support predictions they make about the effect of choices on society. 

Course Cost: $21.00 for the workbook


Subject Overview

Term 1
AS9088 DEMONSTRATE UNDERSTANDING OF THE INTERDEPENDENCE OF SECTORS OF THE NEW ZEALAND ECONOMY.

Term 2
AS90984 DEMONSTRATE UNDERSTANDING OF DECISIONS A PRODUCER MAKES ABOUT PRODUCTION

Term 3
AS90987 DEMONSTRATE UNDERSTANDING OF A GOVERNMENT CHOICE WHERE AFFECTED GROUPS HAVE DIFFERENT VIEWPOINTS
AS90983 DEMONSTRATE UNDERSTANDING OF CONSUMER CHOICES USING SCARCITY AND/OR DEMAND

Term 4
AS90983 DEMONSTRATE UNDERSTANDING OF CONSUMER CHOICES USING SCARCITY AND/OR DEMAND
AS90985 Demonstrate understanding of producer choices using supply

Pathway

Year 12 Economics, Year 13 Economics

Credit Information

This course is eligible for subject endorsement.

Assessment
Level
Internal or
External
Credits
L1 Literacy Credits UE Literacy Credits Numeracy Credits
A.S. 90983 v3 Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
1
E
4
Y
A.S. 90984 v3 Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
1
I
5
Y
A.S. 90985 v3 Economics 1.3 - Demonstrate understanding of producer choices using supply
1
E
3
Y
A.S. 90987 v3 Economics 1.5 - Demonstrate understanding of a government choice where affected groups have different viewpoints
1
I
4
Y
A.S. 90988 v3 Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
1
I
3
Y
Total Credits

Total Credits Available: 19 credits.
Externally Assessed Credits: 7 credits.
Internally Assessed Credits: 12 credits.