13ECO - Economics - NCEA Level 3

Level 3 Economics involves the study of both micro and macro-economics. Students gain skills to analyse markets in detail to explain their efficiency. They will also understand that markets may not always provide an efficient and equitable or fair outcome so the government may need to intervene.

• The behaviour of firms (including output and pricing decisions)

• The market (including supply, demand and allocative efficiency)

• Government intervention in the market

• Aggregate economic activity (including government policy to control the economy)