« Back to Economics

What is Economics?

Economics isn’t just about money – it’s about people, choices and how we use the resources we have. By studying economics, ākonga learn to think critically about everyday situations – like why prices go up, how jobs are created or what happens when interest rates change. They explore the roles of consumers, producers and government, and how their decisions affect things like income, wellbeing and environment. Economics helps ākonga become smarter decision-makers in their own lives and opens doors to exciting careers in areas like social planning, business, finance and government.

What this course involves

Ākonga develop and improve economic understanding of a range of social and economic issues. There are three main areas of study. The first is based around resource allocation and the market and will look closely at the concepts of scarcity and opportunity cost, demand and supply, market analysis, and monopolies and other market structures.

The second area explores situations of market failure and looks at the role of government in the economy in correcting market failure. The third area looks at influences on the New Zealand economy as a whole, both internal and external, including the aims of government and the effects of government policies.

New Zealand Scholarship exams are designed to extend very high-achieving Level 3 ākonga. Those who wish to enter the New Zealand Scholarship exam in this subject must discuss this option with their Te Kura subject kaiako.

Delivery Modes

• * This course is accessed through our online learning environment, My Te Kura. It includes a mix of interactive online modules and downloadable resources in PDF format.

Recommended prior learning

No prior learning needed.

National qualifications available in this course