Year 13 Economics (ECO)
13ECO Course DescriptionTeacher in Charge: Mr N. Mannering.
Recommended Prior LearningWHAT SHOULD I HAVE ALREADY DONE?
Economics at Level 1 or 2 is essential, or a high level of academic achievement at NCEA Level 2 (with approval from Mr Mannering). Request an exemption on this platform.
Year 13 Economics
WHAT WILL I LEARN?
Students use micro-economic models to gain an understanding of the efficiency of markets. We explore how Demand is determined via the Law of Diminishing Utility/ Supply through Diminishing returns. Elasticity - the responsiveness to changes in price is investigated for consumers and producers.
Students will see that markets can provide the most efficient outcome but also that it may be appropriate for the Government to override markets to deliver more efficient or more equitable outcomes. Consider taxes/ subsidies/ quotas and maximum or minimum prices.
Explore why the market can fail and evaluate how either the market and/or the Government can come up with solutions to provide more efficient or equitable outcomes. We will analyse examples of where the market may fail and provide solutions to this economic problem.
Macro-economic analysis at this level involves looking at indicators to gain an understanding of the current state of the economy. Internal and external influences are then analysed to allow students to predict their impact on the macro-economic indicators.
HOW IS THE COURSE ASSESSED?
4 Level 3 Achievement Standards – 20 credits
2 internally assessed make up 10 credits
2 externally assessed make up 10 credits
WHO COULD TELL ME MORE?
Mrs Mannering or Mr Mannering
Learning Areas: