11EC

Level 1 Economics

Subject Description

Teacher in Charge: Mrs M. Myers

This course focuses on how two groups in the economy (households and firms) interact in the economy. This interaction results in economic decisions about what will be produced and the process of production. The market is a central component of New Zealand's mixed economy and by studying the mechanism that allocates scarce resources and determines prices, students should understand the forces that influence their own economic participation.

There may also be the opportunity to complete a Level 1 Business Studies Achievement Standard. This entails setting up a small business and selling a product at a Market Day. This Achievement Standard is worth 6 credits.


Pathway

Contributions and Equipment/Stationery

The workbooks used during this course will be available for optional student purchase at a cost of $25.

Recommended Prior Learning

Open Entry

Credit Information

This course is eligible for subject endorsement.

Total Credits Available: 20 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 8 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90983 v3
NZQA Info
Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
4
4
4
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90984 v3
NZQA Info
Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
5
5
5
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90985 v3
NZQA Info
Economics 1.3 - Demonstrate understanding of producer choices using supply
3
3
3
Level: 1
Internal or External: External
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90986 v3
NZQA Info
Economics 1.4 - Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium
5
5
5
Level: 1
Internal or External: External
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90988 v3
NZQA Info
Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
3
3
3
3
Level: 1
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 20
Total Level 1 Literacy Credits: 20
Total University Entrance Literacy Credits: 0
TotalNumeracy Credits: 0