Course: The Efficiency of Markets (NCEA L3 - Economics)
Students will develop the skills to analyse markets in detail to explain if the situation achieves allocative efficiency. The markets may be influenced by factors influencing supply or demand or situations where the government has intervened.
When:
Term Two
Subject Area(s)
Economics - This course builds on the Investigating Micro-economic Concepts module offered in Term 1.
NCEA L3
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 (fair) outcome so the government may need to intervene. Students will learn to evaluate the options available to the government and justify which is the best solution. This course prepares students for first year tertiary study in commerce, business, agribusiness and many other degrees. It also prepares students to take an active role in politics, business and many other real world situations.
Requirements
Students will have an advantage if they have studied Level 1 NCEA Economics, in particular having background knowledge of the market model. They will also need to be ready and willing to complete both individual and collaborative learning activities in the online learning environment. "Understanding Microeconomics Level 3 Workbook" - Dan Rennie (Approximate cost $28). Note: This book is also used in the term 1 module "Investigating Micro-economic Concepts".
Assessment
91399 Demonstrate understanding of the efficiency of market equilibrium (External) (4 credits)
91402 Demonstrate understanding of government interventions where the market fails to deliver efficient or equitable outcomes (Internal) (5 credits)
About the Teacher
Angela Mitchell has been teaching for 15 years. She currently teaches at Ashburton College where she is Head of the Faculty of Social Sciences. Mrs Mitchell has taught Level 3 Economics online for NetNZ for the last 5 years and finds teaching in the online environment extremely rewarding. She has a passion for netball having spent many years playing elite netball and coaching secondary school teams. Mrs Mitchell also enjoys travelling and spending time with her two children.