Field Social Sciences
Review of Economic Theory and Practice unit standards
|
Subfield |
Domain |
ID |
|
Economic Theory and Practice |
Macro Economics |
8417-8424 |
|
Micro Economics |
8415, 8416, 26010-26012 |
NZQA National Qualifications Services has completed the review of the unit standards listed above.
Date new versions published June 2019
Summary
These standards were reviewed in early 2019 as part of regular scheduled maintenance of unit standards. They were last reviewed or developed in 2009, but since 2013, usage of the standards has dropped significantly. Consultation with recent users of the standards and the wider sector has not supported retaining them.
Main changes
· These unit standards will expire without replacement.
Detailed list of unit standards – classification, title, level, and credits
|
Key to review category |
|
|
A |
Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number |
|
B |
Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number |
|
C |
Major changes that necessitate the registration of a replacement standard with a new ID |
|
D |
Standard will expire and not be replaced |
Social Sciences > Economic Theory and Practice > Macro Economics
|
ID |
Title |
Level |
Credit |
Review Category |
|
8417 |
Demonstrate knowledge of National Income determination |
5 |
2 |
D |
|
8418 |
Investigate macroeconomic activity using the aggregate demand/aggregate supply model |
5 |
3 |
D |
|
8419 |
Demonstrate knowledge of fiscal policy and evaluate its effectiveness |
5 |
3 |
D |
|
8420 |
Demonstrate knowledge of monetary policy and evaluate its effectiveness |
5 |
3 |
D |
|
8421 |
Investigate the causes and discuss the consequences of economic instability |
5 |
2 |
D |
|
8422 |
Investigate the causes and discuss the consequences of exchange rate movement |
5 |
2 |
D |
|
8423 |
Explain and evaluate arguments for and against free trade and trade restrictions |
5 |
2 |
D |
|
8424 |
Examine a contemporary economic issue |
5 |
2 |
D |
Social Sciences > Economic Theory and Practice > Micro Economics
|
ID |
Title |
Level |
Credit |
Review Category |
|
8415 |
Analyse and explain the pricing and allocation of factors of production using economic principles |
5 |
2 |
D |
|
8416 |
Investigate market failure and evaluate corrective mechanisms |
5 |
2 |
D |
|
26010 |
Analyse economic events using the demand and supply model |
5 |
2 |
D |
|
26011 |
Apply elasticity concepts to the demand and supply model |
5 |
2 |
D |
|
26012 |
Analyse the behaviour and performance of firms in different market structures |
5 |
6 |
D |