ASHS Coursebook: 2ECO (Level 2 Economics)

2ECO
NCEA Level:	Level 2
Primary Qualification:	NCEA
Primary Learning Area:	Social Sciences
Date:	20/11/2017

https://wikieducator.org/Albany_Senior_High_School/Coursebook/2ECO

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What is this course about?

The focus of the Level 2 course is on macroeconomics. Macroeconomics is the study of the economy as a whole. The course investigates issues that affect the New Zealand economy and how the New Zealand government manages the economy. The course is divided into five parts.

• analysis of a current economic issue
• inflation
• unemployment
• trade
• government intervention

What will I learn?

You will learn the answers to the following questions;

• what is causing the price of real estate in Auckland to increase?
• why are rising prices a bad thing for an economy?
• what causes unemployment in New Zealand?
• how can New Zealand export more products?

It is important that you keep up to date with current events in the New Zealand economy. You will be expected to watch the television news and read business related articles. Students will gain a better understanding of the issues facing the New Zealand economy and be able to link the concepts being taught in class with the real world.

What sorts of things will I do?

You will investigate economic issues that affect New Zealand. You will do this by learning concepts and models and then apply them to the issues facing the New Zealand and world economies.

What standards can I enter?

Most students will sit all of the credits available however some may only be assessed on some of the standards. This will be planned in consultation with the teacher. All of the standards are version one of the standards and all the standards come from the economics domain on the NZQA framework.

Summary of standards:

NCEA Level	Standard Number	Name of standard	Version Number	Credits	Assessment	University Entrance Literacy
2	91222	Analyse inflation using economic concepts and models	2	4	External	W
2	91223	Analyse international trade using economic concepts and models * This is an optional extra standard for those who wish to extend themselves and / or prepare for scholarship in the following year	2	4	External	W
2	91225	Analyse unemployment using economic concepts and models	2	4	Internal
2	91227	Analyse how government policy and contemporary economic issues interact	2	6	Internal	R
2	91228	Analyse a contemporary economic issue of special interest using economic concepts and models	2	4	Internal	R
3	91403	Demonstrate understanding of macro-economic influences on the New Zealand economy * This is an optional extra standard for those who wish to extend themselves and / or prepare for scholarship in the following year	2	6	External	W
3	91399	Demonstrate understanding of the efficiency of market equilibrium * This is an optional extra standard for those who wish to extend themselves and / or prepare for scholarship in the following year	2	4	External	W
			Total available credits:	32

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.

Approximate dates of internal assessments

AS 91225 Unemployment - Week 5 term 2

AS91228 Special Topic - Week 9 term 1

AS91227 Government policies Week 9 term 3

Frequently asked questions:

Do I need to have done Level 1 Economics to do this course?

No. However, it is an advantage to have studied Economics before this course because you will be familiar with some of the economic terms, concepts and models. If you start studying Economics at Level 2 having not done Level 1 Economics, you will need to work extremely hard at the start of the year to catch up on some of the main economic concepts and models that we will be using this year.

What resources do I need to do Level 2 Economics?

You need the following resources:

• a calculator - your calculator from maths will be sufficient
• a ruler for drawing graphs
• pens and highlighters
• an exercise book or ring binder folder for your notes

What do I need to do that will help me to succeed in this course?

This course is all about what is happening in the New Zealand economy. You must keep up to date with current economic events. You can do this by reading the newspaper, watching the news and subscribing to economic newsletters.