Level 3 Economics

This course will be of particular interest to students who have an interest in how the business and financial worlds work, as we learn about markets and the wider NZ and global economy.  This includes investigating topics such as:

• Efficiency of markets and the impacts of government interventions on efficiency

• Elasticity of demand, which has important implications for businesses in terms of the impact of price changes on revenue

• Market structures, for example those dominated by a few powerful businesses, which we analyse to model the impacts on consumers, business and society / Government 

• Market failures, in which we examine what factors may cause markets to deliver inefficient, or unfair outcomes and what can be done to improve these outcomes

• Macro economic concepts in which we examine factors that impact important outcomes for NZ, such as economic growth, the inflation rate and the unemployment rate

Key skills students develop in this course include the ability to analyse and evaluate the impact of changes in the economic environment on key indicators such as inflation, economic growth and employment.  Students will also develop their oral and written skills for making logical, well reasoned arguments.