Course: How do choices made by the New Zealand government impact the market? (NCEA L1 - Economics)
Prices in the market are determined by the interaction of the choices made by consumers and producers. The interaction of these choices can be modelled and explained using the economic model of Demand and Supply.
When:
Terms three and four
Subject Area(s)
Economics
NCEA L1
Prices in the market are determined by the interaction of the choices made by consumers and producers. The interaction of these choices can be modelled and explained using the economic model of Demand and Supply. The problem is that producers and consumers are not the only players in the market, the government uses policies to intervene in the market. Do taxes on cigarettes reduce consumption? Will the government setting a maximum price for basic fruit and vegetables ensure that everyone can afford to have a healthy diet?
The aim of this course is to introduce some of the key ideas and concepts about markets, prices and equilibrium. In this unit we will explore the Demand and Supply model and how it can be used to illustrate the interaction between producers and consumers. We will then use the model to explore what happens to prices when the government becomes involved in the market.
Requirements
Learning in Economics is a blend of independent and collaborative tasks. This means that you will need to not only complete tasks for feedback, but you will also use online tools and the video conference to discuss and build ideas together. Full participation in all activities is required plus sharing both within the online community and the face to face sessions.
Assessment
This is a NCEA Level 1 course which means that you will be assessed under the following standards.
90985 Demonstrate understanding of producer choices, using supply. (External) (3 credits).
90986 Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium. (External) (5 credits)
About the Teacher
Marina Krijgsman teaches Economics, Accounting and Mathematics at Rangiora New LIfe School. She has taught Level 1 Economics for NetNZ for a while now. Marina is passionate about learning and her family.