ASHS Coursebook: 1ECO (Level 1 Economics)

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Information icon.svg 1ECO
NCEA Level:
Primary Qualification:
Primary Learning Area:
Date:
20/11/2017
wiki
en


What is this course about?

Economics is the study of how people manage the earth's scarce resources. Have you ever wondered why:

  • Petrol prices change so much?
  • A house that was sold for $700000 a year ago is now worth $800000?
  • A carbon tax could help the problem of global warming?

Economics will help to answer these questions. You will learn about economics models such as the supply and demand model that are used around the world to help to explain what is happening in the economy.

What will I learn?

You will learn the following;

  • what factors affect a consumer's demand for a product
  • how producers use resources to create products
  • the demand and supply model
  • how the government controls the distribution of resources
  • how the different sectors in an economy interact


You will also learn valuable skills such as drawing and interpreting graphs, interpreting economic models and understanding economic terminology.

What sorts of things will I do?

You will do the following things during this course


  • look at why some products are more popular than others
  • look at why some producers can produce at a lower cost than other producers
  • investigate how the government tries to control certain markets

What standards can I enter?

Summary of standards:
NCEA Level: Standard Number: Domain Name of standard: Version Number: Credits: Assessment:

Assessment

Date:

1
 90988
 Economics
 Demonstrate understanding of the interdependence of sectors of the New Zealand economy
 3
 3
 Internal
 Wk 8 Term 1
1
 90987
 Economics
 Demonstrate understanding of a government choice where affected groups have different viewpoints
 3
 4
 Internal
 Wk 6 Term 2
1
 90984
 Economics Demonstrate understanding of decisions a producer makes about production
 3
 5
 Internal
 Wk 2 Term 3
1
 90983
 Economics
 Demonstrate understanding of consumer choices, using scarcity and/or demand
 3
 4
 External
 end of year exams
1
 90985
 Economics
 Demonstrate understanding of producer choices using supply
 3
 3
 External
 end of year exams

1
90986
Economics 		Demonstrate understanding of how consumer, producer and / or government choices affect society, using market equilibrium
 3
 5
 External
 end of year exams

2
91223
Economics
Analyse international trade using economics concepts and models

*This is an optional extra standard for those who wish to challenge themselves

2
 4
 External
 End of year exams

3 		91401
 Economics
Demonstrate understanding of micro-economic concepts

*This is an optional extra standard for those who wish to challenge themselves and / or prepare for scholarship

2
 5
 INTERNAL*
 to be discussed on individual basis


Total available credits:
28


Students will choose (in consultation with their teacher) from the standards above. Some of the standards will be optional.

Vocational Pathways provide a framework for students to show how their learning and achievement is valued in the workplace by aligning learning to the skills needed for industry.  Follow this link to see the profile for this course

Frequently asked questions:

What sort of jobs would studying Economics be advantageous for?

Any of the following

  • Business related positions such as being an entrepreneur or managing a business
  • Finance e.g. Banking
  • Tourism
  • Real Estate
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