Economics
Market equilibrium, marginal analysis & market structures, and macro-economic influences.
Achievement standards
Reference sheet Print flashcardsExternal · 14 credits
AS 91399 Demonstrate understanding of the efficiency of market equilibrium Supply & demand, shifts, elasticity, consumer/producer surplus, allocative efficiency. External 4 credits AS 91400 Demonstrate understanding of the efficiency of different market structures using marginal analysis Marginal analysis, profit maximisation, perfect competition vs monopoly, efficiency. External 4 credits AS 91403 Demonstrate understanding of macro-economic influences on the New Zealand economy AS/AD, inflation, unemployment, exchange rates, the balance of payments, fiscal & monetary policy. External 6 creditsInternal · 10 credits
AS 91401 Demonstrate understanding of micro-economic concepts Internal report: scarcity, opportunity cost, externalities and market failure applied to an organisation. Internal 5 credits AS 91402 Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes Internal report: taxes, subsidies, price controls — effects, winners, losers, deadweight loss. Internal 5 creditsWhere this leads in business & finance
Economics is the direct route into finance, policy and strategy: reading markets, judging trade-offs and arguing from evidence are the daily work of analysts, treasurers and central bankers. New Zealand's exporters, the RBNZ and The Treasury all hire for exactly this toolkit.
Watch: Economics in the real world Opens a YouTube search: a good one to watch when motivation dips