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
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
External
NZQA Info
Economics 2.1 - Analyse inflation using economic concepts and models
NZQA Info
Economics 2.3 - Analyse economic growth using economic concepts and models
NZQA Info
Economics 2.4 - Analyse unemployment using economic concepts and models
NZQA Info
Economics 2.6 - Analyse how government policies and contemporary economic issues interact
Possible Careers
Animator/Digital Artist, Sales Representative, Accountant, Auditor, Accounts Officer, Actuary, Office Administrator, Finance Manager, Advertising Specialist, Sales and Marketing Manager, Agricultural/Horticultural Consultant, Retail Manager, Statistician, Bank Worker, Hotel/Motel Manager, Debt Collector, Property Manager, Urban/Regional Planner, Managing Director/Chief Executive, Elected Government Representative, Civil Engineer, Communications Professional, Quantity Surveyor, Economist, Payroll Officer, Policy Analyst, Management Consultant, Data Analyst,