L3ECO Economics


Level 3 Economics


This UE approved Level 3 course covers various aspects of macro and microeconomics. You will learn about current economic issues facing New Zealand and why the Government gets involved in our economy.


  • On a micro level -you will study the market, its efficiency, and the Government’s involvement in the market. You will investigate what happens when the market fails to deliver efficient or equitable outcomes. (AS 3.1, 3.3, 3.4)

  • On a macro level - You will study the working of the economy as a whole and the effects of Government policy on the economy are studied. (AS 3.5)


It will definitely be an advantage to have done either Level 1 or Level 2 Economics. The entire Level 2 course is the focus of the 3.5 macroeconomics paper. The Level 1 course will set you up well for the micro-economic standards. Individual students may make a case to study L3 Economics without having done Level 1 or 2 but they should have strong literacy and numeracy skills.



* AS 91400 will only be taught to students contemplating attempting Economics Scholarship.


The internal achievement standards will be assessed after the appropriate topics have been taught. There will be no reassessment opportunity for these standards. Instead, you will be given the opportunity to improve on your efforts if you get small things wrong that you can fix with no further teaching or learning occurring (resubmission). Because there is no reassessment, if you do not submit the assessment on the due date you have failed the standard.

The externally assessed achievement standards will be formatively assessed using tests and exams during the year. The results from these assessments will count towards class placings and any derived grade applications if you are unable to sit final examinations.

It is vital that you read and understand the rules relating to NCEA in the section on NZQA Information. The following rules are emphasized here:

Late Work

Work submitted late for the internally assessed standards will score a “Not Achieved” . If you have a genuine reason why you are unable to submit work by the due date, then you are able to apply for an extension. This should occur prior to the due date, not after. Approach your subject teacher and make your case. Read the NCEA Student Handbook (in the NZQA Information section) for more detail.

Authenticity and Appeals

The work you do must be your own. Copied work or work attributed to you that is actually someone else’s (e.g. downloaded from the Internet) will not be marked. The school has policies that clearly state what happens in these cases.

You have the right to appeal your teacher’s assessment decision. This must be done within 7 days. These issues are dealt with by the college’s assessment procedures. Read your NCEA Student Handbook for details.

Computer Failure:

Many of your assignments will be computer-based. Ensure you have a back-up system in place. Using Google Docs, an external hard drive, a USB, or email the work to yourself to guard against computer failure. Computer and printer failures are not valid excuses for handing work in late


Level 3 Economics is a university-approved subject. It is a valuable foundation for any career in commerce, trade or politics. It provides basic knowledge to ensure you will be an informed member of New Zealand society.


For all indicative course costs please see the Course Costs Page.