1ECO

Level 1 Economics

Course Description

Teacher in Charge: Mr R. Reddy

Introduction

Economics is the study of us. As economists, we study who we are, how we have created societies and the incentives that drive our actions. Each individual, group or nation is faced with a scarcity of resources. In economics, as an applied social science, students will gather information in order to outline possible solutions to this problem of scarcity. 

Course Outline

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 underpinnings 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, opportunity cost, interdependence and equilibrium. These concepts provide the foundation for study in Level 2, Level 3 and University Economics.  It is also an excellent one year course that provides general educational skills for everyday living.


Recommended Prior Learning

Literacy skills from Year 9 and Year 10 English.

Pathway

Credit Information

This course is eligible for subject endorsement.

Total Credits Available: 16 credits.
Externally Assessed Credits: 7 credits.
Internally Assessed Credits: 9 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90983 v3
NZQA Info
Economics 1.1 - Demonstrate understanding of consumer choices, using scarcity and/or demand
4
4
4
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90984 v3
NZQA Info
Economics 1.2 - Demonstrate understanding of decisions a producer makes about production
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90985 v3
NZQA Info
Economics 1.3 - Demonstrate understanding of producer choices using supply
Level: 1
Internal or External: External
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90987 v3
NZQA Info
Economics 1.5 - Demonstrate understanding of a government choice where affected groups have different viewpoints
Level: 1
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 16
Total Level 1 Literacy Credits: 16
Total University Entrance Literacy Credits: 0
Total Numeracy Credits: 0

Disclaimer

Lynfield College has procedures and guidelines for the administering of assessments.  Click HERE to go to the school website with more information, and links to the appropriate Year Level Assessment Guides.

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