Assessment Specifications
Level 3 Economics 2023
General information
Domain |
Economics |
Method of assessment |
Written examination |
Standards |
Information relating to all achievement standards
To assist candidates, questions may be scaffolded. This scaffolding could mean that a question is broken into several parts and / or bullet points.
Questions in each standard may draw on specific examples from contemporary New Zealand contexts.
Equipment
Candidates are advised to bring a ruler, to be used when drawing graphs, and a calculator.
Specific information for individual achievement standards
Standard |
91399 |
Title |
Demonstrate understanding of the efficiency of market equilibrium |
Version |
2 |
Number of credits |
4 |
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.
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 |
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 |
The economic models assessed will be selected from:
- the business cycle
- the aggregate demand and aggregate supply model
- the spending multiplier
- the foreign exchange model
- the circular flow model.
Government policies assessed may include:
- monetary policy
- fiscal policy
- supply side policies
- international trade policies.