NCEA Level 2 Economics 201
ECO201 Course DescriptionTeacher in Charge: M. McIntosh.
Recommended Prior LearningLevel 1 Business and Economics or Accounting will provide background knowledge but is not essential.
Students with no prior study are recommended to speak to the Teacher in Charge of Commerce
Economics 201
Level 2 Economics will provide you with an understanding of some of the key issues that face NZ and how the economy operates.
We investigate the government’s macroeconomic goals, key economic indicators and focus on the macroeconomic issues of Inflation, International Trade & Unemployment.
Our course sets you up to understand how the economy works along with knowledge of financial systems, trade & the labour market. This knowledge is useful for almost any career but especially for those interested in finance, commerce, journalism, politics, law and the public sector.
In 2025 we are investigating the option of students completing half a year of Accounting with assessment likely to involve one internal and external achievement standard. Then a pure Economics course for the second half of the year, again with one internal and one external standard.
A selection of standards will be offered from the list below depending on student interest and current economic issues in NZ.
An individual program of either straight Economics or Accounting is possible, with negotiation.
The course outlined below is for a full year Economics program.
There are a number of extension opportunities available such as: The NZ Economics Competition, The NZ Monetary Policy Challenge plus other challenges or competitions from different NZ universities and government departments.
Course Overview
Term 1
Introduction to Macroeconomics and Economic Growth
Statistics: Real GDP, CPI, Current Account, Terms of Trade, Trade Weighted Index and the Household Labour Force Survey.
Economic Issues: Economic Growth, Inflation, Trade and Unemployment.
Economic Models: Supply and Demand - Including Exchange Rates, Circular Flow Model and the Aggregate Demand and Aggregate Supply (ADAS) Model.
Economic Growth: Causes and Impacts
Students will use the Circular Flow Model, the Production Possibilities Frontier and the Aggregate Demand and Supply Model to examine the cause and impacts of Economic Growth.
Practice towards AS 91222 ECO 2.3 External 4 credits
Alternatively Accounting: Prepare Financial Information
Term 2
Unemployment
Students look at measures and types of unemployment including recent New Zealand statistics and examples.
They then use Supply and Demand as well as the ADAS model to analyse changes in levels and types of unemployment
Students finish their study by analysing and researching the impacts of unemployment on various groups within New Zealand society.
Internal assessment for AS91225 ECO 2.4, 4 credits.
Alternatively Accounting - Process Accounting Information using Xero/Accounts Receivable.
Term 3
Government Policies:
In this term we use our understanding of Macroeconomics to understand Government Economics Policies such as Fiscal, Monetary, Regulatory (Supplyside) and International Trade.
Students will visit Treasury, the Reserve Bank, MBIE or MFAT as part of their study (Subject to Availability)
Students will then be given at least two macroeconomic objectives to achieve for one economic issue. In 2026 this is likely to be Economic Growth
They will then need to identify and explain at least two economic policies to achieve these objectives before analyzing the flow on effects to other economic issues such as Inflation, Trade, Unemployment or a special issue such as Inequality or the Environment. AS 91227 (ECO 2.6) 6 Credits.
Derived Grade Exams:
Term 4
Finish Government Policies & Exam Revision.
Pathway
NCEA Level 3 Business Studies 301, NCEA Level 3 Economics 301
Career PathwaysPolicy Analyst, Urban/Regional Planner, Elected Government Representative, Animator/Digital Artist, Cook, Sales Representative, Office Administrator, Receptionist, Advertising Specialist, Copywriter, Sales and Marketing Manager, Survey Technician, Personal Trainer/Exercise Professional, Agricultural/Horticultural Scientist, Agricultural Technician, Agricultural/Horticultural Consultant, Mechanical Engineering Technician, Product Assembler, Auditor, Animal Care Attendant, Case Manager, Medical Physicist, Microbiologist, Dancer, Biochemist, Chiropractor, Medical Laboratory Scientist, Psychologist, Trainer, Pharmacist, Oral Health Therapist, Diagnostic Radiologist, Dietitian, Plumber, Gasfitter and Drainlayer, Driving Instructor, Early Childhood Teacher, Health and Safety Adviser, Veterinarian, Primary School Teacher, Kaiwhakaako Māori, Massage Therapist, Accountant, Accounts Officer, Actuary, Finance Manager, Debt Collector, Managing Director/Chief Executive, Civil Engineer, Quantity Surveyor, Economist, Game Developer, Payroll Officer, Management Consultant, Data Analyst
Contributions and Equipment/StationeryEOTC: Economics in the City - 1 day in Term 3 with a combination of visits to the Reserve Bank of NZ, MFAT, Treasury, Victoria University, and PWC or Deloitte's.
Depending on the standards selected students will need to a laptop to complete at least one assessment. In addition this course frequently makes use of rulers and calculators.