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LEVEL 1 ECONOMICS 1ECO   

What is this course about? Economics is the study of us as consumers and producers and how we interact with the government and international  markets. As economists, we study who we are, how we have created societies and the incentives (like profit) that drive  our actions. Each individual, group or nation is faced with a scarcity of resources. In economics, students will gather  information in order to outline possible solutions to this problem of scarcity. Level 1 Economics aims to create an  understanding of the relationships between consumers and producers as they interact in the marketplace. Students will  learn the concepts of the Demand and Supply model and use this tool to examine consumer, producer and government  actions. Students will be introduced to the key economic concepts of scarcity, These concepts provide the foundation  for study in Level 2, Level 3 and University Economics​. 

What sorts of things will I do? ● ● ●

We will visit a business to examine how they use scarce resources and make business decisions for production and profit.   We will learn graphing skills and how and why businesses maximise profit and how consumers make economic  decisions.  We will investigate the circular flow of money and resources around the economy. We will consider our New  Zealand economy from the perspectives of consumers, producers and government. 

What standards can I enter? NCEA  Level 

Standard Name of standard  Number 

1

Version number 

Credits

Assessment

Approximate assessment  date 

AS90983 Demonstrate understanding of  2  consumer choices, using scarcity and/or  demand   

4

External (L)

Term 4

1

AS90984 Demonstrate understanding of the    decision a producer makes about  production   

2

5

Internal (L)

Term 2

1

AS90985 Demonstrate understanding of producer  2    choices, using supply   

3

External (L)

Term 4

1

AS90986 Demonstrate understanding of how  consumer, producer and/or government  choices  affect society, using market equilibrium   

2

5

External (L)

Term 4

1

AS90988 Demonstrate understanding of the  interdependence of sectors of the New  Zealand economy 

2

3

Internal (L)

Term 1/2

Profile for Claire Amos

ASHS Course Booklet 2020  

ASHS Course Booklet 2020  

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