Level 1 Economics
11EC Subject DescriptionTeacher 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.
| Assessment | Level |
Internal or External |
Credits |
L1 Literacy Credits | UE Literacy Credits | Numeracy Credits |
|---|---|---|---|---|---|---|
| A.S. 90983 v3 Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand | 1 |
E |
4 |
Y |
||
| A.S. 90984 v3 Economics 1.2 - Demonstrate understanding of decisions a producer makes about production | 1 |
I |
5 |
Y |
||
| A.S. 90985 v3 Economics 1.3 - Demonstrate understanding of producer choices using supply | 1 |
E |
3 |
Y |
||
| A.S. 90986 v3 Economics 1.4 - Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium | 1 |
E |
5 |
Y |
||
| A.S. 90988 v3 Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy | 1 |
I |
3 |
Y |
||
Total Credits |
||||||
Total Credits Available: 20 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 8 credits.