Albany Senior High School/economics/level3

This is the homepage for Level 3 Economics.

This course is a combination of micro and macro economics.

Web resource

Tutor2U[1] elearn economics - your teacher will need to give you the username and password [2] Investopedia [3] Economics Network [4] Basic Economics [5]

Achievement Standard 3.1

Topics include

• Topic 1 - Market types
  o Market structures
  o  Non price marketing strategies
  o  Alternative Strategies
  * Topic 2 - Deriving the demand and supply curves
  o  Deriving the Demand Curve
  + The law of diminishing marginal utility
  + Optimal Purchase Rule
  + Consumer Equilibrium
  +  Derivation of the individual demand curve using marginal utility
  o Deriving the Supply Curve
  + Accounting and Economic costs
  + The law of diminishing returns
  + The shape of the marginal cost curve
  + Supply curve for the perfect competitor
  *  Topic 3 - Marginal Analysis
  

Achievement Standard 3.2

Topics include

Production Possibility Frontiers or Curves
Consumer and Producer Surplus
Shifting the supply and demand curves
Elasticity
Factor and commodity markets

Achievement Standard 3.3

Topics include

Externalities
Merit/demerit goods
Public goods
Natural monopolies
Income distribution

Achievement Standard 3.4

Topics include

Achievement Standard 3.5

Topics include