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Overview
Students will explore key decisions made by local companies, to better understand how successful businesses operate, and respond to challenges. They will also focus on how two sectors of the economy (businesses and consumers) interact through the market. Students will then apply their knowledge and skills by creating and evaluating their own business. Overall, this course provides a grounding in economic theory, and the opportunity to apply this knowledge in a practical context.
What will I learn?
That pricing is determined by market forces, including supply and demand.
That various factors influence the viability of a business – including many that are outside of the company’s control.
How businesses are often formed in response to a perceived opportunity in the market.
How businesses use various tools to inform their decision-making processes.
How key decisions impact a range of stakeholders.
How businesses evolve in response to changing market conditions or events.
Explore the concept of interdependence and how different groups rely on each other within the economy.
What should I have done already?
There is no prerequisite for this course. However, it is a major advantage to have taken Year 10 Economics and Business.
Assessment outline
Assessment regulations
The internal achievement standards will be assessed after the appropriate topics have been taught. There will be no reassessment opportunity for these standards. You will only be given the opportunity to improve on your efforts if you get small things wrong that can be fixed with no further teaching or learning occurring (resubmission) that will bring your grade from a Not Achieved to Achieved. Because there is no reassessment, if you do not submit the assessment on the due date you have failed the standards.
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.
Where does this course lead?
This course leads directly to Level 2 and 3 Economics and Level 2 and 3 Business/ Enterprise. Courses in economics and business also continue to tertiary level. A study of economics or business is the basis of any career in commerce and is relevant to careers in tourism, social services, banking, finance and small business management.
Indicative costs
For all indicative course costs please see the course costs page.
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