Level 1 Economics


ubject: Economics Level 1

Level: Year 11

Code: ECO1

Entry Guidelines: Nil

Course Description:

Students will gain both a practical and theoretical understanding of consumer decisions, producer decisions and the subsequent behaviour of these two groups in the market place. This is a foundation course that will equip students with economic terminology, knowledge, skills and models essential to the ongoing study of Economics at higher levels.

Future Pathways:

Why study Economics?

Economics is about choice and the impact of our choices for each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms.

Economics offers the tools with which to approach questions and how to make well – informed decisions about the desirability of individual ideas or the likely impacts of public policies. You will acquire problem-solving skills and develop a logical, ordered way of looking at problems.

Economics is important for many areas of society. It can help improve living standards and make society a better place, in turn, it can also make things worse. It partly depends on the priorities of society and what we consider most important.

Economics leads naturally to careers in business, law, research and consulting, marketing, communications or working within the Government.

Cost: Work Book - $25.00

Achievement Standards

AS 90983 Ext 4 Cr - Demonstrate understanding of consumer choices, using scarcity and/or demand

AS 90984 Int 5 Cr - Demonstrate understanding of decisions a

producer makes about production

AS 90985 Int 3 Cr - Demonstrate understanding of producer choices using supply

AS 90986 Ext 5 Cr - Demonstrate understanding of how consumer,

producer and/or government choices affect society, using market equilibrium

AS 90988 Int 3 Cr - Demonstrate understanding of the interdependence of sectors of the New Zealand economy

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