What is Economics about?

Economics examines the choices people make about the use of limited resources to satisfy unlimited wants. Economics helps to explain and predict how goods and services will be produced and consumed. It will tell you who gets what, how, and why.

Economics explores issues of:

  • Sustainability (efficient use of scarce resources)
  • Enterprise (identifying profit-maximising levels of output)
  • Citizenship (economic decisions affecting New Zealand society)
  • Globalisation (the benefits of international trade).

Economists are interested in the factors that influence the well being of people and aim to find solutions to improve people’s standard of living.

Why Study Economics

If you study economics you will think differently to others.

Helps to solve issues people face in their everyday lives

Economics students explore decisions that directly affect their lives, such as:

  • whether to do homework or go to a movie
  • extract mineral resources today or save them for the future
  • charge the full price or subsidise education to make it more accessible.

By studying economics, students will consider how New Zealanders are affected by the economic decision-making of individuals, communities, businesses, and government agencies in New Zealand and overseas.

AS90983   1.1  |  Demonstrate understanding of consumer choices, using scarcity and/or demand  |  4 credits |  External

AS90985  1.3  |  Demonstrate understanding of producer choices using supply  |  3 credits  |  External

AS90986  1.4  |  Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium  |  5 credits  |  External

AS90987  1.5   |  Demonstrate understanding of a government choice where affected groups have different viewpoints  |  4 credits  |   Internal

AS90988   1.6  |  Demonstrate understanding of the interdependence of sectors of the New Zealand economy  |  3 credits  |  Internal

Students do a mix of Level 2 Economics and Level 3 Business standards in this course.

AS91384 3.6  | Carry Out, With Consultation, an Innovative and Sustainable Business Activity

AS91382 3.4  | Develop a marketing plan for a new or existing product

AS91222  2.1   |  Analyse inflation using economic concepts and models  |  4 credits  |  External

AS91223  2.2  |  Analyse international trade using economic concepts and models  |  4 credits  |  External

AS91399   3.1  |  Demonstrate understanding of the efficiency of market equilibrium  |  4 credits  |  External

AS91400  3.2 |  Demonstrate understanding of the efficiency of different market structures using marginal analysis  |  4 credits  |  External

AS91401   3.3  |  Demonstrate understanding of micro-economic concepts  |  5 credits  |  Internal

AS91402  3.4  |  Demonstrate understanding of government interventions to correct market failures  |  5 credits  |  Internal

AS91403  3.5  |  Demonstrate understanding of macro-economic influences on the New Zealand economy  |  6 credits  |  External