Year 13 Economics

13ECO
Subject Description

Teacher in Charge: Mr M. Prasad

What is Economics about?

Economics examines the choices people make about the use of limited resources to satisfy unlimited wants.

“A simple decision to buy a milkshake in an economist’s eye is seen as players in an intricate game of signals and negotiations. The game is for high stakes; some of the people who worked to get the milkshake in front of you made a lot of money, some of them made very little and some of them are after the money in your pocket right now.

Some of the producers involved used sustainable production techniques and others used the cheapest methods they could, some sell their products on global markets and others deliver it to your local dairy.”

Adapted from Tim Harford’s The Undercover Economist (Little Brown, 2006)

Economics helps to explain and predict how goods and services will be produced and consumed. It will tell you who gets what, how, and why.

Economics explores issues of:

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

Economists are interested in the factors that influence the wellbeing of people and aim to find solutions to improve people’s standard of living.

“Economics is the study of how people as individuals and groups choose to satisfy their wants by allocating and managing scarce resources.”

 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.

Course Cost: $21.00 for the workbook


Subject Overview

Term 1
AS91401 DEMONSTRATE UNDERSTANDING OF MICRO ECONOMIC CONCEPTS

Term 2
AS91402 DEMONSTRATE UNDERSTANDING OF GOVERNMENT INTERVENTIONS TO CORRECT MARKET FAILURES
AS91399 DEMONSTRATE UNDERSTANDING OF THE EFFICIENCY OF MARKET EQUILIBRIUM


Term 3
AS91403 DEMONSTRATE UNDERSTANDING OF MACRO-ECONOMIC INFLUENCES ON THE NZ ECONOMY

Term 4
Revision and exam

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

Assessment
Level
Internal or
External
Credits
L1 Literacy Credits UE Literacy Credits Numeracy Credits
A.S. 91399 v2 Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
3
E
4
Y
4r,4w *
A.S. 91401 v2 Economics 3.3 - Demonstrate understanding of micro-economic concepts
3
I
5
Y
5r *
A.S. 91402 v3 Economics 3.4 - Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes
3
I
5
Y
5r *
A.S. 91403 v2 Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy
3
E
6
Y
6r,6w *
Total Credits
Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 20

* 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.

Total Credits Available: 20 credits.
Externally Assessed Credits: 10 credits.
Internally Assessed Credits: 10 credits.