Preferable : 12 credits in Level 1 Economics. Learners who have not studied Economics at Level 1 will need permission from the HOD of Commerce to take this course.
Learners 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 be challenged to find solutions to current macro-economic issues, such as unemployment, poverty, low economic growth, inflation and overuse of natural resources. Learners will use economic models (both macro and micro) to enable critical thinking about the real world to be able to explain the real world and make predictions.
By studying Economics, learners will learn to value all cultures and the contributions they make to economies. For example, an individual might study the impact of immigration on the economy and what skills different immigrants bring to New Zealand. Such critical thinking skills are highly valued in global job markets.
Students will revisit prior learning from ECO101, and expand on this as they are introduced to new models and concepts in order to gain an understanding of how New Zealand's economic growth is measured and influenced by various factors and events. This learning relates to one of the two external Achievement Standards (91224) worth 4 credits.
Students understanding of models and concepts is further developed as we explore how inflation in the economy occurs and is influenced by various factors. This learning relates to the second of the two external Achievement Standards (91222) worth 4 credits.
We will also begin the first of two internal standards. The models and concepts studied in terms 1 & 2 are used to analyse unemployment and explain the causes and impacts of unemployment on various groups within New Zealand society. AS91225 is worth 4 credits.
Unemployment & How Government Policies Interact
Continuation and completion of Unemployment internal.
The second of the two internal standards looks at how policies set by the New Zealand Government affect economic issues such as Unemployment, Inflation, and Economic Growth. Learners will put together their own set of policies and justify their impacts using the concepts and models studied throughout the year. This standard is worth 6 credits.
ESA Workbook (approx $35) is recommended.
A one day to visit economic organisations in Wellington city.