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-maximising levels of output), citizenship (economic decisions affecting New Zealand society), and globalisation (the benefits of international trade).
Economics is offered at NCEA Level 6, 7 and 8.
At Level 6 the topics covered are:
- The Economy
- The Market
A total of 3 internal and 19 external credits are offered:
At Level 7 the topics covered are:
- Economic Growth
- Price Changes
- International Trade
- Government Economic Policies
A total of 6 internal and 18 external credits are offered:
At Level 8 the topics covered are:
- Producer and Consumer Decisions
- The Market
- When Markets Fail
- Overall Economic Activity
A total of 5 internal and 19 external credits are offered.