Year 11 Economics
Course outline 2016
2011
Preamble:
Level 1 Economics focuses on how two groups in the economy (households and firms) interact in the
marketplace. This interaction results in economic decisions about what will be produced and the
process of production. The market is a central component of New Zealand’s economy and, by
studying the mechanism that allocates scarce resources and determines prices, students should
understand the forces that impinge on their own economic participation.
Aims of the course:
Students completing this course should be able to:
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provide an integrated explanation of consumer choices related to scarcity
link detailed explanations of flow-on effects for the consumer with detailed explanations of
choices the consumer makes in response to a changes affecting demand and supply
integrate changes in demand and supply into detailed explanations
provide a detailed explanation of how or why sectors are interdependent
link detailed explanations of the impact of an event on a sector with detailed explanations of
the flow-on effects to other sectors
link detailed explanations of how producer, consumer and/or government choices affect
market equilibrium with detailed explanations of how those changes affect different sectors
Description:
The Year 11 course builds on the skills taught in Year 10 Enterprise Studies with a broader focus
which includes exploring the resources used by consumers and producers as active stakeholders in the
economy. The course aims to develop students’ comprehensive understanding of the causes of the key
topics listed below, but also to recognise the validity of possible flow on effects of economic
decisions. This Year 11 course uses a domestic New Zealand context to provide foundational
economic skills for further study.
1
Assessment:
Standard
number:
Title
Credits
External/
Mode of Assessment
Due Date
Internal
A.S 1.1
(90983 v3)
A.S 1.2
(90984 v3)
A.S 1.3
(90985 v3)
A.S 1.4
(90986 v3)
A.S 1.6
(90988 v3)
Demonstrate understanding
of consumer choices, using
scarcity and/or demand
4
External
External exam where
students provide linked and
integrated explanations
related to consumer choices
Demonstrate understanding
of decisions a producer
makes about production
5
Internal
Report to justify decisions
made by a NZ producer
Demonstrate understanding
of producer choices using
supply.
3
External
External exam where
students provide linked and
integrated explanations
related to producer choices
Demonstrate understanding
of how consumer, producer
and/or government choices
affect society, using market
equilibrium
5
External
External exam where
students provide linked and
integrated explanations
related to changes in the
market
Demonstrate understanding
of the interdependence of
sectors of the New Zealand
economy
3
Internal
Investigation of
interdependence and
impacts of the Christchurch
Earthquake rebuild on
sectors of the NZ economy
Friday 1st July
Friday 4th
March
School assessment policy applies to all assessments and for all students in this course. Please refer to
your assessment guide as issued in Term One or refer to the College website.
Standards which contribute towards literacy and numeracy:
Literacy
Each Achievement Standard above contributes towards literacy credits
Numeracy
None of the above Achievement Standards above contribute towards numeracy credits
2
Topics:
The following topics will be taught:
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The five sector Circular Flow model
Impacts of injections into and withdrawals from the Circular Flow model
Scarcity, economic choice and opportunity cost
The impact of values on decision making
The Law of Demand, demand schedules and demand curves
Movements and shifts of demand curves
The Law of Supply, supply schedules and supply curves
Movements and shifts of supply curves
Causes and impacts of changes to productivity of labour and productivity of capital
Types and impacts of price and non-price marketing methods
Market equilibrium
Market disequilibrium – shortages and surpluses
Market disequilibrium via government interventions – minimum and maximum price
controls, indirect taxes and subsidies
Introduction to New Zealand’s international trading position – imports and exports
Some useful texts and websites
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Understanding Economics for NCEA Level ONE, Dan Rennie
elearneconomics.com - Dan Rennie
Suggested Readings (available from the College library)
50 Economics Ideas You Really Need to Know: you really need to know (50 Ideas)
Freakonomics: A rogue economist (Steven D. Levitt)
Money matters: an introduction to economics (Barbara Hollander)
30-second economics: the 50 most… (Donald Marron)
Level 1 Economics Learning Workbook (Phillip Jellyman)
3
2016 YEAR PLANNER: YEAR 11 ECONOMICS
Term 1
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
Week 11
ECO 1.6
Circular
Flow
Internal
ECO 1.6
ECO 1.6
ECO 1.6
ECO 1.1
Demand
ECO 1.1
EASTER
WEEKEND
ECO 1.1
ECO 1.1
EOTC WEEK
Monday 1st
February
Intro +
Diagnostics
Content
ECO 1.6
Summative
Internal
Assessment
Term 2
Content
Assessment
ECO 1.1 Summative
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
ECO 1.3
ECO 1.3
ECO 1.3
ECO 1.3
ECO 1.2
ECO 1.2
ECO 1.2
ECO 1.2
ECO 1.2
ECO 1.4 Market
Supply
Producers Internal
Supply
1.3
Formative
test
1.2 Field Trip
1.2 Final Summative
Report Due
4
Term 3
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
ECO 1.4
ECO 1.4
ECO 1.4
ECO 1.4
ECO 1.4
Revision
Revision
Revision
Content
ECO 1.4
Formative
test
Assessment
Term 4
Week 1
Week 2
Week 3
Week 4
Week 5
Mock Examinations
TBC
Feedback and
revision
Revision
Revision
NCEA exams
start
Week 6
Week 7
Week 8
Week 9
Content
Assessment
5