NCEA Level 1 Economics 101
ECO101 Course DescriptionTeacher in Charge: Mr A. Munro
Economics 101
Students will consider how New Zealanders are affected by the economic decision-making of individuals, communities, businesses, and government agencies in New Zealand and overseas.
They will:
- make sense of economic problems that they may be facing, now and in the future
- make connections between New Zealand’s economy and the global economy
- research the viewpoints different groups in society bring to decision making
- be able to use knowledge and technologies that will enable them to actively contribute in individual, business, government, and global financial contexts
Course Overview
Term 1
Circular Flow and Interdependence & Producer decisions about Production
Learners will learn the first of a number of economic models studied this year - the circular flow model. Through this they will develop an understanding of how the New Zealand economy operates, and the dependencies that sectors within the economy have with each other. This is linked to AS90988 worth 3 credits.
We then begin to explore the Producer sector in more depth, looking at the decisions they make around productivity, and price and non-price marketing. This unit involves a visit to McDonald's Porirua in Term 2 ahead of the assessment.
Term 2
Producer Decisions & Market Day
In the first part of term 2 learners will complete their learning & assessment for the Producer Decisions unit (AS90984 worth 5 credits).
They will then form teams to create a Market Day Business and coming up with a cultural food to sell at our Market Day towards the end of the term. They will investigate the Marketing Mix (4P's) - how businesses make decisions around their product, promotion, price and place, and put this into practice as they make their own decisions about their Market Day product. This unit is linked to AS
Term 3
Supply & Market Equilibrium
Term 3 focuses on the external exams. Learners will explore the economic concepts of Supply and Demand, and how these interact to create a Market Equilibrium. They will then learn the impacts of changes to markets due to events and/or government interventions.
The two externals make up 8 credits (AS90984 Supply, 3 credits & AS90986 Market Equilibrium, 5 credits).
Term 4
Revision & Exam preparation.
Assessment Policy & Procedures
Pathway
NCEA Level 2 Business Studies 201, NCEA Level 2 Economics 201
Contributions and Equipment/StationeryESA Learning Workbook.
Learners will also be involved in a Cultural Foods Market Day activity in which may require a contribution to groups' ingredients and preparations.
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. 90840 v3
Business Studies 1.4 - Apply the marketing mix to a new or existing product
Assessments: Term: , Week: |
1 |
I |
3 |
Y |
||
|
A.S. 90984 v3
Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
Assessments: Term: , Week: |
1 |
I |
5 |
Y |
||
|
A.S. 90985 v3
Economics 1.3 - Demonstrate understanding of producer choices using supply
Assessments: Term: , Week: |
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
Assessments: Term: , Week: |
1 |
E |
5 |
Y |
||
|
A.S. 90988 v3
Economics 1.6 - Demonstrate understanding of the interdependence of sectors of the New Zealand economy
Assessments: Term: , Week: |
1 |
I |
3 |
Y |
||
Total Credits |
||||||
Total Credits Available: 19 credits.
Externally Assessed Credits: 8 credits.
Internally Assessed Credits: 11 credits.