Assessment Specifications

Level 3 Economics 2017

General information

Domain

Economics

Mode of Assessment

Written Examination

Standards

91399  91400  91403

Special notes

For higher levels of achievement, candidates should contextualise their answers, use appropriate economic terminology, and draw graphs accurately.

To assist candidates, questions may be scaffolded. This scaffolding could mean that a question is broken into several parts and/or bullet points.

Content/context details

Questions in each examination will draw on specific examples from contemporary New Zealand contexts.

Equipment to bring

Candidates are advised to bring a calculator and a ruler.

Specific information for individual external achievement standards

Standard

91399

Title

Demonstrate understanding of the efficiency of market equilibrium

Version

2

Number of credits

4

Special notes

The economic models assessed will be selected from:

  • the supply and demand model for the goods and/or service markets
  • internationally traded goods markets where New Zealand is a price taker.

For a comprehensive understanding, candidates may be required to demonstrate an understanding of elasticity concepts.



Standard

91400

Title

Demonstrate understanding of the efficiency of different market structures using marginal analysis

Version

2

Number of credits

4

Special notes

The economic models assessed will be selected from:

  • the supply and demand model
  • the cost and revenue model for a perfectly competitive firm and monopoly firm (including natural monopoly).


Standard

91403

Title

Demonstrate understanding of macro-economic influences on the New Zealand economy

Version

2

Number of credits

6

Special notes

The economic models assessed will be selected from:

  • the business cycle
  • the aggregate demand and aggregate supply model
  • spending multiplier
  • foreign exchange model
  • circular flow model.

Government policies assessed may include:

  • monetary policy
  • fiscal policy
  • supply side policies
  • international trade policies.
Economics subject page 2017 Examination timetable

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