12ECO

Year 12 Economics (Level 2)

Subject Description

Head of Faculty: Mrs D. Kiely.

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.

 In this course, students will:

  • Develop an understanding of the New Zealand economy and the policies that the Government uses to manage it.
  • Make sense of economic problems that they may be facing, now and in the future.
  • Make connections between New Zealand’s economy and the global economy.

Students will be challenged to find solutions to current macro-economic issues, such as unemployment, poverty, low economic growth and inflation. 

 

Subject Overview

Term 1
Inflation (external examination)
• Understand different types of inflation.
• Understand the aggregate demand and aggregate supply models.
• Understand the quantity theory of money.
• Analysis of causes of changes in inflation using economic modelling.
• Understand the business cycle.
• Analysis of the impacts of changes in inflation on various groups in New Zealand society.

Term 2
Unemployment (internal written report)
• Government macro-economic goal of full employment.
• Understand different types of unemployment.
• Economic modelling of the labour market and the wider economy.
• Analysis of causes of changes in unemployment using economic modelling.
• Analysis of the impacts of unemployment on different groups in New Zealand society.

Term 3
Economic Growth (external examination)
• Measures of growth including economic and non-economic factors.
• Understand nominal economic growth vs real economic growth.
• Economic modelling of circular flow and production possibilities.
• Analysis of causes of economic growth.
• Analysis of the impacts of economic growth on various groups in New Zealand society and/or the environment.
Government Policies (internal written report)
• Understand how monetary policy, fiscal policy and government regulations function in the New Zealand economy with respect to government policy objectives. These policy objectives include maintaining price stability, increasing export receipts, increasing New Zealand’s growth rate, reducing unemployment and reducing inequality.
• Students begin to learn by analysing case studies in depth and discussing the impact (including economic models) on the macro economy.
• In this assessment, students research and analyse two different government policies with regards to a contemporary economic issue. Economic models are integrated throughout the report and the flow-on effects from the government policies on other economic issues are explored.

Term 4
• Revision for examinations.
• Students further develop writing skills to improve their ability to compare and contrast two or more impacts on the macro economy.

Prerequisites

Preference will be given to students who have achieved a minimum of 14 credits in the Year 11 Economics course. 

Discretionary entry will be offered by the Head of Faculty.  

Pathway

Career Pathways

Credit Information

You will be assessed in this course through all or a selection of the standards listed below.

Total Credits Available: 18
Internal Assessed Credits: 10
External Assessed Credits: 8
Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91222 v2
NZQA Info

Economics 2.1 - Analyse inflation using economic concepts and models


Level: 2
Internal or External: External
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 91224 v2
NZQA Info

Economics 2.3 - Analyse economic growth using economic concepts and models


Level: 2
Internal or External: External
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 91225 v2
NZQA Info

Economics 2.4 - Analyse unemployment using economic concepts and models


Level: 2
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 4r
Numeracy Credits: 0
A.S. 91227 v2
NZQA Info

Economics 2.6 - Analyse how government policies and contemporary economic issues interact


Level: 2
Internal or External: Internal
Credits: 6
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 6r
Numeracy Credits: 0
Credit Summary
Total Credits: 18
Total Level 1 Literacy Credits: 0
Total University Entrance Literacy Credits: 10
Total Numeracy Credits: 0