SMC foundation diploma – Economics
Entry Recommendations: Open entry.
Course Outline: Economics examines the choices people make about the use of limited resources to satisfy unlimited wants. It helps us to explain and predict how goods and services will be produced and consumed. Students will gain knowledge, skills, and experience to understand the choices consumers and producers face in the market and how the performance of the New Zealand economy is measured using macroeconomic key performance indicators.
Skills developed in the course:
- Critical thinking
- Problem solving
- Decision making
The course leads to: NCEA Level 2 Economics and IB Economics.
- Producers – demonstrate understanding of Producers – 20%
- Supply Concepts and Models – demonstrate understanding of producer decisions using supply concepts and models – 25%
- Demand Concepts and Models – demonstrate understanding of consumer decisions using scarcity, choice and demand concepts and models – 25%
- Market Concepts and Models – demonstrate understanding of how decisions made by consumers, producers and the government affect scoiety, using market concepts and models – 25%