Assessment Specifications

Level 3 Economics 2021

General information

Domain

Economics

Method of assessment

Written examination

Standards

91399  91400  91403

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
  • 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

Examination timetable

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