NCEA Level 2 Economics
12ECO Subject DescriptionTeacher in Charge: Mr K. Addinall.
Economics
Prerequisite: 12 credits from Level 1 Economics or at discretion of HOD.
Students will apply investigate, statistical thinking skills to the study of the New Zealand economy in the areas of the economic growth, international trade, unemployment, inequality and inflation.
Subject Overview
Term 1
Growth
Proverbs 22:16: Whoever oppresses the poor to increase his own wealth, or gives to the rich, will only come to poverty.
It has surely come time for the environmental and human consequences of uninhibited economic growth to be both acknowledged and reimbursed for.
Unemployment
1 John 3:17-18: But if anyone has the world's goods and sees his brother in need, yet closes his heart against him, how does God's love abide in him? Little children, let us not love in word or talk but in deed and in truth.
Understanding of the impact of involuntary unemployment is necessary to assist decision-makers make the ethical decision around employment of the labour resource in an economy.
Term 2
Inflation
Jeremiah 17:10: “I the Lord search the heart and test the mind, to give every man according to his ways, according to the fruit of his deeds.”
Inflation affects each person differently depending upon their individual circumstances. As students of the economy, we must take into account these differences in order to improve equity.
Term 3
Trade
Exodus 12:49: “There shall be one law for the native and for the stranger who sojourns among you.”
International trade intersects with human rights, the environment and politics. A person must ensure that meeting commercial needs/wants is not at the expense of others or the environment.
Government policies
Jeremiah 29:11: For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope.
Decisions made by government and the Reserve Bank of New Zealand have far-reaching impacts on all participants in the economy. It is necessary to mitigate negative impacts of those decisions, especially upon those groups who are economically vulnerable.
Term 4
Exam revision
Assessment Policy & Procedures Pathway
The focus for Year 12 Economics is macro-economics. In year 13 there is one external paper on macro-economics.
Contributions and Equipment/StationeryFee: Four workbooks at $12 each